We’ve been talking about how health care reform could spread to dentistry, and we’ve learned that dentists are almost totally opposed to any sort of universal dental care plan in the U.S.
Most doctors feel nationalized dental care would lead to higher bureaucratic costs and a lower standard of care.
But that’s not the only threat on the health care horizon. The proposed health care reforms will have a dramatic effect on small business owners… that’s you, doctor.
It’s time to get ready for a tax increase…
They’ve proposed paying for health care changes by essentially putting a surcharge of anywhere from 1% up to about 5.4% on your personal income. Plus, Congress is looking at increasing your taxable base for Social Security.
Are you making $300K? Then your taxes will go up. Do you and your spouse pull in $1M a year? Then prepare for up to a 5.4% tax increase just to pay for other people’s health care. And the House Democrat plan would also impose a penalty of 8% of payroll if employers do not offer health insurance.
And the more successful you are, the more you’re penalized for growing your business and employing people. Believe me, I feel your pain, because I’m in the same boat myself.
This weekend, my wife Suzanne and I sat down to do a little financial planning. Between federal and state taxes (we live in the bankrupt state of California), we predict we’re going to be paying an extra 10%.
It seems to me that the American dream isn’t what it used to be. It’s getting to where the only way to make it in America is to make it BIG – that is, you’re 120% successful, or else you’re squeezed into the middle class – which won’t be what it used to be.
When people say we should “tax the rich,” I know they’re talking about me and Suzanne and other entrepreneurs like us. We’re proud of our small business. We employ a number of people, and we’ve been doing well enough that we’ve even been hiring during the recession.
But why should we go through all this work to expand our company when we’re going to be penalized 10%? I’ll tell you, folks – sometimes numbers like that make it hard to stay motivated!
What do you think? Here are some highlights from other dentists’ comments:
- “It is really very simple—no one values what they do not have to pay for personally.” (Dr. Julian Gray, DDS)
- “How will the young graduates of U.S. dental programs be able to pay back their educational loans if we are under a socialized health care state? Will the dental education become free under Obama’s plan?” (Dr. Mark Collins, DDS)
- “What in the world happened to our country? Where are private property, liberty, and pursuit of happiness in this ‘Atlas Shrugged’ world the leftists are trying to create? Why does the growing entitlement class created by Democrats think they are entitled to my life’s work and energy? I feel like Charlton Heston in Planet of the Apes! Good God, what are they doing to our country!?” (Denver doctor)