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A Historic Review
Assessment
Doctors, FAs and all ME-P readers. What is your strategy for the fiscal cliff situation?
Conclusion
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Filed under: Breaking News, Health Law & Policy, Insurance Matters | Tagged: DJIA, federal debt, Fiscal Cliff, GDP, iShares, ism, recession |
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My Fiscal Cliff Philosophies
The Keynesian multiplier was introduced by Richard Kahn in the 1930s. It showed that government spending brought about cycles of spending that increased employment and prosperity regardless of the form of the spending.
On the other hand, according to the monetarist Dr. Arthur Laffer Curve, lower tax rates change people’s economic behavior and stimulate economic growth, which leads to tax revenues exceeding static revenues.
IMHO:
The Keynesian multiplier effect rarely works.
But, the Laffer curve usually does work.
Dr. David Edward Marcinko MBA CMP
http://www.CertifiedMedicalPlanner.org
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What the cliff really means to us!
http://www.slate.com/articles/business/moneybox/2012/12/fiscal_cliff_and_you_how_daily_life_will_be_affected_for_retirees_working.html
Kirk
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The “Non-Cliff”
The financial markets aren’t sweating the fiscal cliff – are you, colleagues?
Dr. Subata
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BREAKING NEWS
No vote on the ‘fiscal cliff” package tonight.
Ann Miller RN MHA
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Ann,
Oh no …….. Here we go ……..
Benjamin
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Update: MAYBE
The White House and GOP just reached a deal on the ‘fiscal cliff’, still weighted toward spending. And, the Senate OK’d measures to avert the debacle.
http://news.msn.com/politics/update-white-house-gop-reach-a-deal-on-the-fiscal-cliff
The 11th-hour legislation, which the House must approve, stops most tax hikes & across-the-board spending cuts due to begin with the new year. This interim deal would raise some income taxes, block spending cuts, extend jobless benefits & prevent a spike in milk prices. It will go to the House on Tuesday and is not an end to the political drama …. Maybe!
But, is all this good news for the economy, small business and doctors? Where is the pro-growth agenda?
Ann Miller RN MHA
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Fiscal Cliff Package Covers Doc-Pay Fix with Cuts to Other Medicare Providers
The Senate’s last-minute fiscal cliff package staves off a sharp Medicare physician pay cut by cutting billions from other Medicare providers, including hospitals, pharmacies, and dialysis clinics. Early on New Year’s Day, the Senate voted 89-8 to approve the American Taxpayer Relief Act, which permanently extends middle-class tax cuts and postpones the automatic spending cuts known as the sequester for two months. The legislation also averts the expected 26.5% Medicare physician payment cut and extends current Medicare payment rates for doctors through Dec.31, 2013.
Instead, the bill offsets the cost of a one-year patch to the sustainable growth-rate formula through reductions to other Medicare programs, most of which affect hospitals. For instance, a documentation-and-coding adjustment that seeks to recoup past overpayments to hospitals because of the shift to Medicare Severity Diagnosis Related Groups, or MS-DRGs, would save about $10.5 billion.
Source: Jessica Zigmond, Modern Healthcare [1/1/13]
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Fiscal Cliff Averted
No cuts to doctors for one more year.
http://www.rollcall.com/news/cuts_to_some_medicare_payments_provide_offsets_for_doc_fix-220446-1.html
Dr. Burton
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Doc groups counter fiscal cliff deal and SGR “Patch”
Physician organizations expressed relief, but also renewed their calls for action, following last-minute negotiations by lawmakers to stave off 28.5% in Medicare reimbursement cuts.
http://www.modernmedicine.com/modernmedicine/article/articleDetail.jsp?id=801217&cid=PRAC
Dr. Rowan
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