On February 11, 2011 Douglas Elmendorf reiterated his statement that the exact opposite is the case. ObamaCare will destroy around 800,000 jobs. One reason why the plan will destroy jobs is that in
"Section 1411: increases the Medicare Hospital Insurance (HI) portion of the payroll tax. This provision will increase the employee’s portion from 1.45 percent to 2.35 percent for families making more than $250,000 a year (and for individuals making more than $200,000). Combined with the employer’s portion, the total rate will be 3.8 percent on every dollar of income over $250,000 when the tax hike takes effect in 2013." (heritage.org) Such a large tax hike is not exactly ideal especially due to the current state of the American Economy.
"Douglas Elmendorf "
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He is the director of the Congressional Budget Office
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