The Corner

Health Care

From the transcript:

BIDEN: Now, with regard to the — to the health care plan, you know, it’s with one hand you giveth, the other you take it. You know how Barack Obama — excuse me, do you know how John McCain pays for his $5,000 tax credit you’re going to get, a family will get?

He taxes as income every one of you out there, every one of you listening who has a health care plan through your employer. That’s how he raises $3.6 trillion, on your — taxing your health care benefit to give you a $5,000 plan, which his Web site points out will go straight to the insurance company.

And then you’re going to have to replace a $12,000 — that’s the average cost of the plan you get through your employer — it costs $12,000. You’re going to have to pay — replace a $12,000 plan, because 20 million of you are going to be dropped. Twenty million of you will be dropped.

So you’re going to have to place — replace a $12,000 plan with a $5,000 check you just give to the insurance company. I call that the “Ultimate Bridge to Nowhere.”

The crowd liked the line, but does Biden really think that wages would not rise to recoup any of that $12,000?

Ramesh Ponnuru is a senior editor for National Review, a columnist for Bloomberg Opinion, a visiting fellow at the American Enterprise Institute, and a senior fellow at the National Review Institute.

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