Economist Doug Holtz-Eakin, a former CBO director, has a new six-page paper out reviewing the cost of Obamacare. It’s high. More interestingly, he has an estimate of implicit marginal tax rates.

The key implication for labor markets is that deficits represent a commitment to either raise taxes or reduce outlays in the future. To the extent that it is the former, new taxes on labor will be an impediment to smooth functioning of labor markets by interfering with decisions on education, career choice, hiring, job-switching, second-jobs, and a myriad of aspects of the most crucial economic activity in the United States today. Large deficits are bad news for labor markets and the PPAC is a commitment to that bad news.

The paper contains some interestingly numbers and is worth reading. Here.