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Unintended consequences of a National Health Care System

By
Real Estate Broker/Owner with AKELA REALTY INC
If passed, a national health insurance program will negatively impact the already-disastrous real estate market and further implode our economic recovery. Just when there was a hint of a possible bottoming of home prices the administration is trying to force through a $1.5 trillion + health care system which most Americans do not want. They don’t want to insure 10,000,000 illegal aliens, another 10 million 18-25 year olds who do not want health care and another 10 million who choose not to purchase insurance. What they do want are lower health care costs which require major tort reform. With the Bush tax cuts scheduled to expire plus new taxes for all tax payers which will be assessed to pay for the proposed national health care program, average effective tax rates will be 49-51% on incomes over $70,000. Not the so-called rich but all middle class payers will be affected. The discretionary money 2nd home buyers and baby boomers were ear marking for a real estate purchase will instead be sent to Washington to pay for Obama Care. Potential home buyers will dry up because their income is too heavily taxed & they will not qualify for a mortgage. Existing home owners, who are just barely maintaining their mortgages or who perhaps just modified their loans, will be forced into foreclosure, further increasing the slew of abandoned properties in this country. New as well as existing construction jobs will be lost adding to the unprecedented unemployment rate. Local tax rates are bound to be increased to cover losses from a shrinking tax base. Regardless of the politics, Washington has to stop the spending. Who cannot see the disaster looming on the horizon?

Comments (6)

Pat Champion
John Roberts Realty - Eustis, FL
Call the "CHAMPION" for all your real estate needs

I certainly hope this is not the case. I have been hearing a lot of negative on the new National Health Care System I just hope it proves not to be true.

Jul 21, 2009 04:42 AM
TIM MONCRIEF
Tim Monciref - Austin, TX
Over 2,000 homes sold…..

I definitely believe something has to be done.  To shove it down our throat while we are trying to get on our feet is pure politics and total selfishness with a massive ego.  This is one of the biggest decisions in our country's history and Mr. O wants this done before anyone understands the consequences.  I do believe that we need some type of government assistance, even though it will be run like Medicare. 2009 is not the time to pull this off.  This is a sad time in the history of our government.

Jul 21, 2009 04:43 AM
Anonymous
Gary Brey

I believe there has to be a private market solution. I learned earlier today Medicare cost about 20% more to deliver care versus the private sector.

Jul 21, 2009 04:55 AM
#3
Elizabeth Bolton
RE/MAX Destiny Real Estate Cambridge, MA - Cambridge, MA
Cambridge MA Realtor

I'm all for national health care - the whole package.  And I think there are *plenty* of people right now who are facing bankruptcy, foreclosure and homelessness due to medical bills.  Brian Williams had a short piece on this very topic on tonight's news.  Having profit making companies in between health care and patients makes zero sense.

Liz

Jul 21, 2009 12:11 PM
Anonymous
Gary Brey

Where is there a national health care system which delivers the care we get now from our system? Just look to Canada or England and see what mess we would have. I feel no responsibility to insure people illegally in our country. Also I see very few people losing their homes because of medical bills. Massive tort reform would go a long way to bring down insurance costs.    

Jul 21, 2009 12:31 PM
#5
Anonymous
Gary Brey

Liz,

How is that health care system working in Mass?

Jul 21, 2009 12:32 PM
#6