Countdown to Repeal: Economy Will Suffer If Obamacare Stands | The Foundry: Conservative Policy News.

Countdown to Repeal: Economy Will Suffer If Obamacare Stands | The Foundry: Conservative Policy News.: "The law also creates several new taxes and increases existing rates. Taxes on drug and medical device manufacturers will not only raise the cost of medical services but create incentives for businesses in those industries to move jobs overseas. Obamacare increases the Medicare payroll tax for high earners and expands the tax to apply to investment income, hurting small businesses and reducing investment in the American economy.

Heritage’s Center for Data Analysis (CDA) conducted a dynamic analysis of the new law that, unlike the static model used by the Congressional Budge Office (CBO), accounts for how policy changes will impact behavior and the overall performance of the economy. The results show that “the bill’s taxes, penalties, and fees on investors and businesses will decrease the amount of investment in the economy. This reduced investment will in turn lead to a decline in productivity, causing the economy to produce $706 billion less worth of goods and services.”

Finally, the 200 economists supporting repeal write that “a more comprehensive and realistic projection suggests that the Affordable Care Act could potentially raise the budget deficit by more than $500 billion during the first ten years and by nearly $1.5 trillion in the following decade,” when budget gimmicks and omitted costs"