Newt Gingrich on the ABC Sunday show said that most employers would be overjoyed to stop buying health care in return for an 8% payroll tax. Howard Dean (same show, other side of the table) said this number came from an insurance company supported think tank and was false. Newt didn't object and the talk moved on.
Got to thinking about that. Family health care runs about $12K, and costs the company the same for new assembly line hires as it does for high paid executives. $12K is more than 8% of all salaries less than $150K. In short, 8% of salary would be cheaper than buying a family health insurance policy. Also less hassle to the company.
So, corporate America has no problem with an 8% payroll tax instead of company health care. It will save them money. In short, the health care bill will wipe out company paid health insurance, the kind of insurance most of us have. Leaving us to the tender mercies of Government Health Care, Inc.