Business unimpressed with McCain health care plan

Oh boy, better look out for yet another erratic stunt by McCain. Even his business supporters aren’t impressed with the McCain health care plan that will cost even more and do nothing to help the uninsured. Does anyone even care about “tax credits” anymore? That has to be the oldest trick in the book in Washington because it does so little to even impact taxes, unless maybe you’re worth hundreds of millions and have the serious tax credits. What good is a stingy $5,000 tax credit when family coverage is over $12,000 per year? Only an aloof millionaire sitting on a dozen houses and teams of attorneys and tax accountants would think this plan is good for regular families.

Over the weekend, Mr. Obama more accurately characterized the McCain plan as a swap but one that would work to the detriment of millions. Middle-class families, he said, would “watch the system they rely on begin to unravel before their eyes.”

The business leaders said that was also their fear. Despite steady declines this decade, employers still provide coverage to 62 percent of Americans younger than 65. Surveys show that they want to continue doing so to attract and maintain a productive workforce.

The business leaders forecast that Mr. McCain’s free-market approach would impose particular burdens on small businesses and old-line manufacturers that are already struggling.

“To some in the business community, this is very discomforting,” said R. Bruce Josten, executive vice president for government affairs at the Chamber of Commerce. “The private marketplace, in my opinion, is ill prepared today with an infrastructure for an individual-based health insurance system.”

An American in Paris, France. BA in History & Political Science from Ohio State. Provided consulting services to US software startups, launching new business overseas that have both IPO’d and sold to well-known global software companies. Currently launching a new cloud-based startup. Full bio here.

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