- Medicare fraud alone is about $60 billion a year.
- This comes out to about a $400 cost for every U.S. household every year.
- The Medicare fraud level itself is larger than the Federal budgets for the EPA, Nuclear Security Administration, Department of the Interior, NASA, Pell College Grants, NIH Medical Research, and the Department of Homeland Security.
- In fact, that $60 billion fraud loss is larger than the budgets of the EPA, Nuclear Security Administration, Department of the Interior, and NASA combined.
- A Floridian doctor, Salomon Melgen, was sentenced to 17 years in jail for stealing $73 million from Medicare.
- Houston doctor, Earnest Gibson III, was sentenced to 45 years in jail for stealing $158 million from Medicare.
- A Fort Worth doctor, Noble Ezuknma, got 16 years in jail for being part of a $50 million Medicare scheme.
- In the previous economic 11 recoveries after a recession prior to Obama, the lost jobs during the recession were, on average, recovered in 27 months after the recession began: for Obama’s recovery, it took more than six years, 76 months.
- Even the severe recession during the Reagan years recovered all of the lost jobs in just 35 months, half the time of the Obama recovery.
- In those previous pre-Obama recoveries, GDP recovered on average in a little over a year: in the Obama recovery, that GDP recovery too three and a half years, twice the length of the severe Reagan recovery.
- GDP growth averaged 2% over the Obama years, a third lower than the long term growth trend while Trump has gotten growth back over the 3% level in many quarters.
- He wants to spend $50 million a year on “free” community college for state residents. How spending $50 million and saying it is free still eludes me.
- He wants to increase annual school spending by over a quarter billion dollars a year.
- He wants to bump up the top state income tax rate to 10.75% from 8.97%, an act that Obama proved is usually counter productive to economic growth and vitality.
- Note: when Maryland did the same thing several years ago, the wealthier state residents just moved out of state, resulting in less income tax revenue despite higher tax rates.
- But his tax insanity does not stop with the income state raise: he wants to raise the state sales tax to 7.5% from 7% and he wants to raise the state’s corporate tax rate to 13% from 9%, making it the highest corporate tax rate in the country and likely driving many businesses, and the jobs they create, out of the state.
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