Friday, March 19, 2010

Obama Care: Now Who Knows Better? 130+ Prominent Economists or the community organizer who is destroying America.

Source: National Review


Friday, March 19, 2010


130+ Economists Sign Letter Calling Health 'Reform' a Jobs Killer [John R. Graham]

House Minority Leader Boehner is circulating a letter signed by over 130 economists, addressed to the president and Congress, describing the catastrophic effects of the so-called "reform" to U.S. health care. Both I and my colleague Benjamin Zycher are signatories.

The letter focuses on the avalanche of new taxes and the resulting negative impact on capital investment and job growth. It also emphasizes that the "reform" will increase the cost of health care.

Highlighted text by Storm'n Norm'n

ECONOMISTS RESPOND TO WHITE HOUSE LETTER

Dear President Obama and Congress:

As early as this week, the House of Representatives will vote on the Senate-passed health care bill as well as a reconciliation package making changes to the bill. While Speaker Pelosi asserts that health care reform will create four million jobs, we disagree. In our view, the health care bill contains a number of provisions that will eliminate jobs, reduce hours and wages, and limit future job creation.

New Taxes. The bill raises taxes by almost $500 billion over ten years. A significant portion of these tax increases will fall on small business owners, reducing capital and limiting economic growth and hiring.

New and Increased Medicare Taxes. An increase in the Medicare payroll tax included in the bill will affect small businesses employing millions of Americans. Over time, higher payroll taxes will decrease wages for these employees. And a new Medicare tax on investment income such as interest, dividends, and capital gains proposed by President Obama and likely included in the bill will threaten jobs and decrease economic growth.

Employer Mandate. The bill will impose a tax of $2,000 per employee on employers with more than 50 employees that do not provide health insurance. The bill will also tax employers that offer health coverage deemed “unaffordable” by the government. These new taxes on employers will reduce employment or be passed on to workers in the form of lower wages or reduced hours.

In addition to constricting economic growth and reducing employment, the health care bill will increase spending on health care and will increase the cost of health coverage. The new and higher taxes on America’s small businesses and workers included in the bill are detrimental to job creation and economic growth, especially now given the fragile state of the economy. The Congress should instead enact a health care bill that will reduce spending on health care, reduce the cost of health coverage for every American, and that does not harm the economy or cost jobs.

Sincerely,

Adam Gifford Jr.

Professor and Chair

Department of Economics

California State University

Charles Calomiris

Henry Kaufman Professor of Financial Institutions Columbia University

Alan Viard

Resident Scholar

American Enterprise Institute

Charles N. Steele

Herman and Suzanne Dettwiler Chair in Economics

Assistant Professor

Dept. Economics and Business Administration Hillsdale College

* Institutional affiliations are provided for identification purposes only.

Alex Brill

Research Fellow

American Enterprise Institute

Christopher Douglas

Assistant Professor of Economics

University of Michigan, Flint

Allan Meltzer

Professor of Political Economy

Carnegie Mellon University

Coldwell Daniel III

Professor Emeritus of Economics

University of Memphis

Arthur A Fleisher III

Professor & Chair

Department of Economics

Metropolitan State College of Denver

David L. Kendall

Professor of Economics and Finance Chair

Department of Business and Economics University of Virginia's College at Wise

Barry Poulson

Professor of Economics

University of Colorado Boulder

David VanHoose

Herman W. Lay Professor of Private Enterprise

Baylor University

Benjamin Zycher

Senior fellow

Pacific Research Institute

Dennis Halcoussis

Professor of Economics

California State University, Northridge

J. Brian O'Roark

Associate Professor of Economics

Department of Finance and Economics

Robert Morris University

Derek Stimel

Assistant Professor of Economics

Menlo College

Brian Strow

BB&T Professor for the Study of Capitalism Associate Professor of Economics

Western Kentucky University

Diana Furchtgott-Roth

Senior Fellow

Hudson Institute

Bruce Bender

Professor

Lubar School of Business

University of Wisconsin-Milwaukee

Donald Booth

Professor of Economics

Chapman University

Don Bellante

Professor of Economics

University of South Florida

Dorla A. Evans

Professor of Finance

University of Alabama in Huntsville

Glenn Wilson

Associate Professor of Economics

Odessa College, Odessa, TX

Dorsey D. Farr

Partner

French, Wolf & Farr

Howard Baetjer

Lecturer

Department of Economics

Towson University

Douglas Holtz-Eakin

President

American Action Forum

Ivan Pongracic, Jr.

Associate Professor of Economics

Hillsdale College

Earl Grinols

Distinguished Professor of Economics

Department of Economics

Baylor University

J. Christopher Hughen

Associate Professor of Finance

Daniels College of Business

University of Denver

G. Michael Phillips

Professor of Finance, Real Estate, and Insurance College of Business and Economics

California State University, Northridge

James L. Doti

President and Donald Bren Distinguished Chair of Economics

Chapman University

Gary Wolfram

William Simon Professor of Economics and Public Policy

Hillsdale College

James F. Smith

Chief Economist

EconForecaster, LLC

Gene Smiley

Emeritus Professor of Economics

Marquette University

Jane Lillydahl

Professor Emerita

University of Colorado at Boulder

George J. Viksnins

Professor of Economics Emeritus

Georgetown University

John Bethune

Dorothy and K. D. Kennedy Chair of Business Barton College Wilson, NC

Gerald Gay

Chairman and Professor of Finance

Georgia State University

John Eckalbar

Professor of Economics

California State University, Chico

Gerald R. Jensen

Professor of Finance

Northern Illinois University

John P. Hoehn

Professor

Environmental and Natural Resource Economics

Michigan State University

John R. Graham

Director, Health Care Studies

Pacific Research Institute

Lester D. Taylor

Professor Emeritus of Economics

University of Arizona

John Merrifield

Professor of Economics

University of Texas at San Antonio

Marek Kolar

Assistant Professor

Ketner School of Business

Trine University

John Seater

Professor of Economics

North Carolina State University

Micha Gisser

Professor Emeritus of Economics

University of New Mexico

John Wicks

Professor Emeritus

University of Montana

Michelle Michot Foss

Chief Energy Economist and Head

Center for Energy Economics

Bureau of Economic Geology

Jackson School of Geosciences

University of Texas at Austin

Joseph S. DeSalvo

Professor of Economics

University of South Florida

Mike Schuyler

Senior Economist

Institute for Research on the Economics of

Taxation

Joseph Haslag

Professor of Economics, University of Missouri

Nancy Jay

Associate Professor of Finance

Mercer University

Joseph Zoric

Associate Professor of Economics MBA Director Franciscan University of Steubenville

Nikolai G. Wenzel

Wallace and Marion Reemelin Chair in Free-Market Economics

Assistant Professor of Economics

Hillsdale College

Judd W. Patton

Professor of Economics

Bellevue University

Owen Irvine

Associate Professor of Economics

Michigan State University

Kevin Hassett

Director of Economic Policy Studies and Senior Fellow

American Enterprise Institute

Phoebus J. Dhrymes

Edwin W. Rickert Professor of Economics

Columbia University

Lawrence Franko

Professor of Finance (ret.)

University of Massachusetts, Boston

College of Management

Paul Gregory

Cullen Professor of Economics

University of Houston

Michael C. Davis

Associate Professor

Missouri University of Science and Technology

Lee Ohanian

Professor of Economics

UCLA

Robert Dammon

Professor of Finance

Carnegie Mellon University

Paul H. Rubin

Samuel Candler Dobbs Professor of Economics

Emory University

Robert Genetski

President

Classicalprinciples.com

Richard Grant

Professor of Finance & Economics Lipscomb University

Robert Herren

Professor of Economics

North Dakota State University

Phillip Bryson

Professor of Economics

Brigham Young University

Robert Tamura

Professor of Economics

Clemson University

R. Ashley Lyman

Professor Emeritus of Economics and Statistics University of Idaho

Roger Meiners

Professor of Economics

University of Texas at Arlington

R. David Ranson

President and Director of Research, H. C. Wainwright & Co. Economics Inc.

Roger Leroy Miller

Center for University Studies

Arlington, TX

Richard Cebula

Editor

Journal of Regional Analysis and Policy Managing Editor

Journal of Economics and Finance Education

Sanjai Bhagat

Professor of Finance Director, Ph.D. Program Leeds School of Business University of Colorado Boulder

Richard E. La Near

Chair holder of Free Enterprise

School of Business

Missouri Southern State University

Sherry L. Jarrell

Professor of Practice in Finance and Economics

Schools of Business

Wake Forest University

Richard Vedder

Edwin and Ruth Distinguished Professor of Economics

Ohio University

Simon Hakim

Director, Center for Competitive Government Fox School of Business & Management

Professor of Economics Temple University

Robert D. Tollison

J. Wilson Newman Professor of Economics Clemson University

Stan Liebowitz

Ashbel Smith Professor of Economics Director

Center for the Analysis of Property Rights and Innovation School of Management University of Texas--Dallas

Stacie E. Beck

Associate Professor of Economics

University of Delaware

Thomas A. Rhee

Professor of Finance, California State University, Long Beach

Stephen Entin

President & Executive Director, Institute for Research on the Economics of Taxation

Thomas Carl Rustici

Assistant Professor of Economics

George Mason University

Stephen W. Pruitt

Arvin Gottlieb/Missouri Endowed Chair of Business Economics and Finance

Henry W. Bloch School of Business and Public Administration

University of Missouri—Kansas City

Timothy Mathews

Assistant Professor of Economics

Kennesaw State University

Steve Jackstadt

Professor Emeritus of Economics

University of Alaska Anchorage

Tom Lehman

Professor of Economics

College of Arts and Sciences

Indiana Wesleyan University

Steven E. Margolis

Professor of Economics

North Carolina State University

Tom Miller

Resident Fellow

American Enterprise Institute

Steve Parente

Associate Professor

Department of Finance Carlson School of Management

University of Minnesota

Tomas Philipson

Daniel Levin Professor of Public Policy Studies University of Chicago

Steven T. Call

Economics Professor Emeritus

Metropolitan State College

Denver, Colorado

William R. Dougan

Professor

John E. Walker Department of Economics

Clemson University

Steven N. Kaplan

Neubauer Family Professor of Entrepreneurship and Finance

University of Chicago Booth School of Business

William F. Ford

Former President

Federal Reserve Bank of Atlanta

Ted Day

Professor of Finance School of Management University of Texas at Dallas

Richardson, Texas

Marc W. Simpson Chairman, Department of Finance Northern Illinois University

Philip I. Levy

Resident Scholar

American Enterprise Institute

Dean R. Lillard

Senior Research Associate

Department of Policy Analysis and Management

Cornell University

Vernon L. Smith

Economic Science Institute

Chapman University

Frank Falero

Emeritus Professor of Economics

California State University

Anthony T. Lo Sasso, Professor Division of Health Policy and Administration School of Public Health University of Illinois at Chicago

Cory Krupp

Associate Professor of the Practice

Sanford School of Public Policy

Duke University

Christopher J. Conover Research Scholar

Center for Health Policy

Mark Pingle

Professor of Economics

President, Entrepreneurship Nevada

President, Society for the Advancement of Behavioral Economics

Associate Editor, Journal of Economic Behavior and Organization

Associate Editor, Journal of Socio-Economics

University of Nevada, Reno

John P. Cochran Dean School of Business Professor of Economics Metropolitan State College of Denver

Robert J. Rossana

Professor of Economics

Wayne State University

Robert D. Niehaus

Principal Economist

Robert D. Niehaus, Inc.

Richard L. Gordon

Professor Emeritus of Mineral Economics

The Pennsylvania State University

Scott Harrington

Professor of Health Care Management

University of Pennsylvania

Don Chance

Flores Chair of MBA Studies

Professor of Finance

Louisiana State University

R. Richard Geddes

Associate Professor

Department of Policy Analysis & Management

Cornell University

Antony Davies

Associate Professor of Economics

Duquesne University

Stephen A. Tolbert, Jr. Lecturer of Economics, Montgomery County Community College Blue Bell, PA

Thomas R. Saving University Distinguished Professor of Economics Texas A&M University

Larry Eubanks Associate Professor Department of Economics University of Colorado at Colorado Springs

Nathan J. Ashby

Assistant Professor of Economics University of Texas at El Paso

Jason E. Taylor

Professor of Economics

Central Michigan University

C. Thomas Howard

Professor, Reiman School of Finance

Daniels College of Business

University of Denver

Lawrence Southwick

Associate Professor Emeritus

University Research Scholar

University at Buffalo

Martin C. McGuire

Emeritus Heinz Professor

for Economics of Global Security

University of California-Irvine

John Murray Professor of Economics University of Toledo

King Banaian

Professor

Department of Economics

St. Cloud State University

Ronnie H. Davis

Vice President & Chief Economist

Printing Industries of America

DeVon L. Yoho

Associate Professor of Economics

Ball State University

William F. Shughart II

F.A.P. Barnard Distinguished Professor

Editor in Chief, Public Choice

Senior Fellow, The Independent Institute

President, Southern Economic Association

The University of Mississippi

Department of Economics

Gerry L. Suchanek

Department of Finance

University of Iowa

Susan K. Feigenbaum

Professor of Economics

University of Missouri-St. Louis

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