by Jason Easley: Democratic presidential candidate Sen. Barack Obama (D-IL) unveiled his universal health care plan today . . . Obama would create a national health insurance plan that would allow the uninsured to buy coverage, with premiums based on income level. Obama’s plan is not mandatory for all, but he would create a health insurance oversight body called The National Health Insurance Exchange. The Exchange would set the rules and standards for private insurance plans. A big change is that the insurance companies would have to issue a policy for any applicant regardless of their health. . . . This plan already has an unrealistic house of cards feel to it, but the kill shot is the way he plans to pay for it. Obama would do two things, first he would repeal the Bush tax cut to the wealthiest Americans, and, “To help pay for this, we will ask all but the smallest businesses who don’t make a meaningful contribution today to the health coverage of their employees to do so by supporting this new plan,” Obama said. Small businesses are a political sacred cow. No Republicans and very few Democrats will vote for a plan that causes small businesses to pay more taxes. On top of this, the campaign estimates that their plan will cost a very expensive $50-65 billion a year. . . . [Read More]
See also: Obama, Following Rivals, Unveils Health Care Plan
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