CBO: Health law repeal adds $230 billion to deficit

[Quantum Windbag]

That's the dumbest thing I've seen all week. By your logic, churches are for-profit enterprises. By your logic there's no such thing as a non-profit.

I doubt that many intelligent people would agree with you on that.

Sigh.

Some churches are profit making businesses, or did you think the Baker's got rich through divine intervention. I think every intelligent person would admit that some churches make lots of money, and that the Catholic Church is one of the richest organizations on the planet.

nonprofit corporation n. an organization incorporated under state laws and approved by both the state's Secretary of State and its taxing authority as operating for educational, charitable, social, religious, civic or humanitarian purposes. A nonprofit corporation (also called "not for profit corporation") is formed by incorporators, has a board of directors and officers, but no shareholders. These incorporators, directors and officers may not receive a distribution of (any money from) profits, but officers and management may be paid reasonable salaries for services to the corporation. Upon dissolution of a nonprofit corporation its assets must be distributed to an organization existing for similar purposes under the "cy pres doctrine." In order for contributions to the corporation to be deductible as charitable gifts on federal income taxes, the corporation must submit a detailed application (with a substantial fee) for an Internal Revenue Service ruling that it is established for one of the specific nonprofit purposes spelled out in the Internal Revenue Code. Informational tax returns must be filed annually with the IRS and the state taxing body. In addition, the state Attorney General may have oversight powers to determine if the corporation is abiding by state laws by limiting its activities to its approved nonprofit purposes, and not milking the corporation for disguised profits

nonprofit corporation legal definition of nonprofit corporation. nonprofit corporation synonyms by the Free Online Law Dictionary.

Where in that definition does it say anything about not making money? Non profit simply means that any profit a corporation makes does not go to the owners, it is folded back into the business.

 

[jeffrockit]

Erci Cantor says the CBO is wrong, so it MUST be so, right?

The CBO can only work with the data supplied to them by the creators of the bill. Read up on the creative accounting measures proponents of the bill used such as counting spending cuts twice. To believe every element of this bill as gospel is to accept the legislation completely blind. We are being asked to accept something crafted by those who main career ambition is to increase their power and maintain their power...at all costs.

"Medicare Cuts. CBO and the Chief Actuary for the Medicare program have both stated that Medicare spending cuts cannot be counted twice—to pay for a new entitlement expansion and to claim that Medicare’s financial outlook has improved.[3] But that is exactly what the proponents of the new legislation do. If the Medicare cuts and tax hikes for the hospital trust fund (about $400 billion over 10 years, according to CBO[4]) are used solely to improve the capacity of the government to pay future Medicare claims, then the health law becomes a massive exercise in deficit spending.
But the problems do not end there. Many of the assumptions used to build the official cost projections are likely to prove entirely too optimistic."
Obamacare: Impact on Future Generations of the Health Care Reform | The Heritage Foundation

 

[saveliberty]

That's the dumbest thing I've seen all week. By your logic, churches are for-profit enterprises. By your logic there's no such thing as a non-profit.

I doubt that many intelligent people would agree with you on that.

Sigh.

Some churches are profit making businesses, or did you think the Baker's got rich through divine intervention. I think every intelligent person would admit that some churches make lots of money, and that the Catholic Church is one of the richest organizations on the planet.

nonprofit corporation n. an organization incorporated under state laws and approved by both the state's Secretary of State and its taxing authority as operating for educational, charitable, social, religious, civic or humanitarian purposes. A nonprofit corporation (also called "not for profit corporation") is formed by incorporators, has a board of directors and officers, but no shareholders. These incorporators, directors and officers may not receive a distribution of (any money from) profits, but officers and management may be paid reasonable salaries for services to the corporation. Upon dissolution of a nonprofit corporation its assets must be distributed to an organization existing for similar purposes under the "cy pres doctrine." In order for contributions to the corporation to be deductible as charitable gifts on federal income taxes, the corporation must submit a detailed application (with a substantial fee) for an Internal Revenue Service ruling that it is established for one of the specific nonprofit purposes spelled out in the Internal Revenue Code. Informational tax returns must be filed annually with the IRS and the state taxing body. In addition, the state Attorney General may have oversight powers to determine if the corporation is abiding by state laws by limiting its activities to its approved nonprofit purposes, and not milking the corporation for disguised profits

nonprofit corporation legal definition of nonprofit corporation. nonprofit corporation synonyms by the Free Online Law Dictionary.

Where in that definition does it say anything about not making money? Non profit simply means that any profit a corporation makes does not go to the owners, it is folded back into the business.

Since the bulk of a nonprofit coporation's revenue comes from donations and not the production of a product or service, I do not think the term profit applies at all. Typically profit is used to describe the difference between the costs of production and the revenue from selling that produced item or service.

I would be more inclined to call it retained contributions than profit.

 

[Quantum Windbag]

That's the dumbest thing I've seen all week. By your logic, churches are for-profit enterprises. By your logic there's no such thing as a non-profit.

I doubt that many intelligent people would agree with you on that.

Sigh.

Some churches are profit making businesses, or did you think the Baker's got rich through divine intervention. I think every intelligent person would admit that some churches make lots of money, and that the Catholic Church is one of the richest organizations on the planet.

nonprofit corporation n. an organization incorporated under state laws and approved by both the state's Secretary of State and its taxing authority as operating for educational, charitable, social, religious, civic or humanitarian purposes. A nonprofit corporation (also called "not for profit corporation") is formed by incorporators, has a board of directors and officers, but no shareholders. These incorporators, directors and officers may not receive a distribution of (any money from) profits, but officers and management may be paid reasonable salaries for services to the corporation. Upon dissolution of a nonprofit corporation its assets must be distributed to an organization existing for similar purposes under the "cy pres doctrine." In order for contributions to the corporation to be deductible as charitable gifts on federal income taxes, the corporation must submit a detailed application (with a substantial fee) for an Internal Revenue Service ruling that it is established for one of the specific nonprofit purposes spelled out in the Internal Revenue Code. Informational tax returns must be filed annually with the IRS and the state taxing body. In addition, the state Attorney General may have oversight powers to determine if the corporation is abiding by state laws by limiting its activities to its approved nonprofit purposes, and not milking the corporation for disguised profits

nonprofit corporation legal definition of nonprofit corporation. nonprofit corporation synonyms by the Free Online Law Dictionary.

Where in that definition does it say anything about not making money? Non profit simply means that any profit a corporation makes does not go to the owners, it is folded back into the business.

Since the bulk of a nonprofit coporation's revenue comes from donations and not the production of a product or service, I do not think the term profit applies at all. Typically profit is used to describe the difference between the costs of production and the revenue from selling that produced item or service.

I would be more inclined to call it retained contributions than profit.

Just because a non profit is permitted to solicit donations it does not mean that they do, nor does it mean they are necessarily successful at it. As far as I know Kaiser Permnente does not solicit any donations at all.

 

[Wright]

"The costs are causing more and more people and companies to either drop insurance completely or to use plans with such high deductibles that people can't afford."

So stop buying health insurance and the insurance companies will have to lower costs if they want to stay in business. Very simple, supply in demand. High demand, high price. Lower the demand, lower the price. As soon as everybody starts loosing money then either they will lower prices or lose their jobs and their companies. You don't like how high a price something is? Stop buying it. That's what I did.

I don't have health insurance and I spend a day in the emergency room on the 21st of December. I paid $905 for my one day stay. If I was to buy health insurance then it would cost me $800 a month for health insurance and the bill would have been $1,300. So I stopped buying health insurance and started putting $800 a month into a savings account. Now I make money off my savings and I can pay for my medical costs myself and not have to deal with insurance companies.

BTW, if I did have insurance, I would have had to pay $1,000 for my deductible before the insurance would have covered anything. So either way I would be paying $9,600 a year for medical insurance that does not do me any good until I have spent another $1,000 in medical costs for the year.

Once again, if medical care is to expensive, stop feeding the system. Get out of it and start putting your money into a savings plan and pay for your own health care.

Stop looking to the government to solve problems. All it does it make them worse. Take care of yourself and stop relying on everyone else to take care of you. I know social security is not going to be there when I retire, at least I do not plan on it being there, so I am saving for my own retirement. Rely on yourself, not on everyone else.

 

[healthMagistrat]

ooh, now i understand the topic.. i guess they are just like that..

 

[Care4all]

it's $7 grand a year for my health care insurance with a $2500 a year deductible before they pay....

It stinks, BIG TIME!

 

[Avorysuds]

When the CBO report says what they like they tout it.

when it reports what they dont like they pan it

Truth! And it really does not matter which "they" we are talking about.

+rep for that!