, outrage. Voters take to the polls and did the never ending economic recovery the issues dominating the ballot boxes are taxes. We have Grover Norquist and john lonski, moodys chief economist. I have to think people are fed up, and it a greek just look at the innercity high key marginal tax rates on income, five and a thousand per year at four. 4 we see the same thing in colorado and other places. Will people put up with this . These are blue cities and states. Colorado and a new york are voting with the incometax bracket is possible in colorado that could be defeated although was started off with a lot of support Teachers Unions because it is 1 billion to go to them if they get the tax increase through. But over the last two years the states have been cutting incometax rates North Carolina, oklahoma, kansas carolina, oklahoma, kansas, across the country. Tonight we will see of colorado wants to become california and if new york wants to become detroit. Gerri looked at colorado with amendment 66 income tax is 4. 6 it is. 75,000 of medium income then it is 5. 9 above that they try to push that. But it is up to the year because we talk about giving the money to schools and people our reluctant to say about giving money to kids. The last time they put a 1 sales tax for the kids it was defeated handily. Colorado does have a history as a western states but the Teachers Union the democrats have put a lot of money into advertising. They also try to raise taxes on marijuana from 15 percent up at 25 also on the ballot. Gerri how do people respond with their wallets . We know Consumer Confidence is already down. By increased taxes you will probably spend the last face it. This is the economic recovery that remains the worst, the most feeble upturn since the second world war. The last thing we need right now are higher personal income taxes. Gerri grover, you agree . There are other options. You dont have to spend less if you have higher taxes in new york or colorado, you move. There is no national tax increase. Gerri people from new york city are apoplectic because a year you save 70,000 but that is Median Income in this town. A lot of people will vote with their feet. In hampshire, tennessee, texas, florida, nevada, and no income tax not for millionaires, and nobody. They love to have people who earn money and work hard move to those states. Colorado could learn from california that people will leave. That is happening right now some of the big banks in new york city are moving operations to jacksonville florida, a Salt Lake City city, increasing taxes will simply reinforce the trend and the city of new york in the long run will end up with far less tax revenue than what they had expected after implementing the tax hikes. New york is a wonderful city. So is europe. Go visit and live there. [laughter] gerri you make a good point but talk about the middleclass. The people who are under arrest, fewer and fewer people, taxes go up, you were talking about this. Year to date we find personal income taxes our up by 16point 5 that is 142 billion. Some of that is growth of more than 100 billion was taken away by the government from the private economy and as a result we still have a dismal economic recovery. Gerri and those numbers are negative . That is slowing down because at the start of the year they thought it would grow by 2 percent instead that looks like 1. 5 this year or no faster than 2. 5 next year. Gerri i have to bring up obamacare. I believe this is another tax on americans my guess day your premiums would every pay do you see this as another tax . There are 20 different taxes in obamacare some of which have not hit yet so yes obamacare forces the cost of health care is a tax but also 28 different taxes. Gerri there are others in the actual law for sure. Obamacare is a net drag on Economic Activity if you have so many Small Businesses trying to find ways to hit the or avoid the 50 employee threshold is the invisible tax costing us jobs. Gerri the blue states leading will they pay the piper . What will happen tonight . Watch colorado. It could be close it is interesting to see people who just legalized marijuana want to tax it back into prohibition. We will see the governor of new jersey refused to raise taxes will be reelected. The republican candidate in virginia who follows a republican governor who raised taxes the biggest in history may pay a penalty for his predecessors. Gerri there is a lot going on in that race. Thank you for coming on tonight. We appreciate your time. War to come including a Major Insurance Company for canceling policies for obama forces to change his message it changes every day a little bit different about keeping your Insurance Plan. So ally bank has a raise your rate cd thatonthats correct. Rate. Cause im really nervous about getting trapped. Whys that . Uh, mark . I have my reasons. Look, you dont have to feel trapped with our raise your rate cd. If ourate on this cd goes up, yours can too. Oh that sounds nice. Dont feel trapped with the ally raise your rate cd. Ally bank. Your money needs an ally. Help the gulf when we made recover and learn the gulf, bp from what happened soe could be a better, safer energy company. I can tell you safety is at the heart of everything we do. Weve added cuttingedge technology, like a new deepwater well cap and a stateoftheart monitoring center, whe experts watch over all drilling activity twentyfourseven. And were sharing what weve learned, so we can all produce energy more saly. Our commitment has never been stronger. If you like your doctor you can keep your doctor. Period. If you like your Health Care Plan you can keep your Health Care Plan. Period. Gerri another obamacare promise broken hundreds of thousands of not millions of times over as policyholders debt cancellation notices there rather than owning a to the reality president adds a new caveat neff former policy adviser for the center of Medicaid Medicare Services you were giggling what do you make of it . There are people in the white house who clearly knew that we see the documents but policy people probably believed it because they did not understand the insurance markets. Small businesses were able to review the plan as early so there grandfathered next year so they have through december 2014 to come into compliance. October 2014 and Small Businesses will get notices that they are also dropped right in time for the election and politicians know that which is why the democrats are so worried. Gerri millions are already getting cancellations take a look at the cancellations all across the country but given that those of the real numbers how can you say the Insurance Companies make the decision not cancellations just routine business . Some are looking to get out of certain markets but by and large the vast majority are dropped because they are not in compliance with the new regulation now they are forced to offer plans of the exchanges. These cancellations were anticipated but the administration the devil they would be so happy that they would not notice that got dropped but the plans are not good the prices our high in the benefits are not very good. Gerri you mentioned there moby even more cancellations what is the solution . I hear the republicans beating their breasts but i dont hear anybody say this is how you get fixed. The law is flawed in certain individuals will have to look hard if they can get a better deal going outside the exchange but individuals below 250 of the federal Poverty Level they will get a better deal on the people above those levels will have to look for plants outside the exchange in they will not be as good as what they have now with the individual market. Gerri people try to make sense of that and you are helping. We talked about the cancellations Blue Cross Blue Shield california canceling the cancellations because that acre is bubbling up and they are suing . This date government to bobby Blue Cross Blue Shield to reinstate the plan so looks like they have to give 90 days and the states say 180 i the they could have contested this legally so they just reinstated. The administration has been bringing in and executives as well to browbeat them. It will not work. Gerri young folks not signing up what we feared. Priority Health Reporting the average age of people is 51. 50 percent are over the age of 50 we see this play out over andover not what we expected. We cannot pay for this of this is what happens. Premiums will go of 2015 and then they will drop out of the market sees see that right now teetering in participation i think that will be worse than that of premiums of have to accommodate the older and sicker population. They are already higher aid to say it will be worse . And the exchanges that is why it will be more competitive to go outside the Exchange Even though theyre not have that benefit they will still get the cheaper deal but at least will be affordable. Gerri doctors got taken for coming on. Consumers fighting back against their insurance getting canceled to residents are suing in them blue cross from misleading them into key and selling from the grandfathered policies we have the attorney representing the plaintiffs in both cases figgie for coming on to be with us. Explain what happened in simple terms. My to clients were induced to switch from the grandfathered policy to a new policy that is of the blue cross touted would be a better policy and in some cases cheaper. What they did not tell them is by switching there would be canceled that was important because if they knew there would have been canceled they never would have switched in the first place they would have kept the grandfathered policy but now theyll lose access to their doctors paul simon has a battery of doctors for serious illness and he will now lose access because of the cancellation. Gerri it is a big problem and we have noticed that there was not dead in the wall street journal yesterday about a woman with cancer losing access to her doctors and her hospital and a similar situation. What i found interesting is that company kept pounding the people offering new policies to say they were trying to entice them that and the blue cross would have to keep paying . It looks like they tried to get people off the grandfathered policies because it costs them more than the newer policies. Said they had enticed them from the grandfathered policies to the others which debut at the time they would be cancelling but did that tell the people that. Gerri here is what a of the blue cross had to say because we have not refused review the lawsuit we decline to comment. It is too early they have not even been served yet. They were just filed yesterday but we hope to get into negotiations are hope they would allow these people to go back or give them the option because they were happy with their old policies and doctors before they were enticed they feel to seek broad dash dc and civic two Different Cases one is 59 the other is 32 . Speethree guess a and the long term customers. 50 years ago for 25 years. Gerri have they ever see in those letters before to say get a new policy before . I dunno if they saw letters like that before but they both called up the blue cross representatives of both felt pressured to get new policies and they both felt deceived by the blue cross representative to entice them into these policies they knew would be switched or canceled i mean. Gerri will either of your clients go on to the California Exchange if they dont win this lawsuit . They are looking at the exchange and unfortunately none of the doctors and hospitals that might call it goes to is on the exchanges and he is a bad shape. My heart goes out to those people. We appreciate your time. Nextel will be joined by one smallbusiness owner who was forced to cancel his health plan. And your reaction. Customer erin swenson ordered shoes from us online but they didnt fit. Customers not happy, im not happy. Sales go down, im not happy. Merch comes back, im not happy. Use ups. They make returns easy. Unhappy customer becomes ppy custom. Then, repeat customer. Easy returns, im happy. Repeat customers, im happy. Sales go up, im happy. I ordered another pair. Im happy. both im ppy. Im happy. Happy. Happy. Happy. Happy. Happy happy. I love logistics. But it doesnt usuallyork that way with health care. Wi unitedhealthcare, i get information on quality rated doctors, treatment opons and cost estimates, so we cake Better Health decisions. Thats health in numbers. Unitedhealthcare. Gerri smallbusiness owners scrambling over the high cost of obamacare they are among the millions of americans receiving cancellation notices of the male white turnips guess that says this Small Business plan gets the ax cofounder of slid capital management. Tell me about the plea and you have in place currently you will lose. It covers everybody the entire Single Person and it meets our needs very well for the whole staff. Gerri newly have nine employees doing the right thing then one day of a telephone they tell you what . There are only two major providers in their area one is completely vacating the industry at the end of the year we get intel the renewal date which is you first saw it have through may to figure out what we will do but i went on to look at the options and there is significantly more expensive. Gerri why do you think this is connected to obamacare . You normally get in annual increase normally 5416 but we offer a full suite of benefits and there is only so much money to go around now were faced if these increases are 33 or if we cut coverage to pay out of pocket to have a co pay or Something Like that. ,. Gerri what did they tell you about why they did this . Did they give you the explanation . You meet people that have gotten notices that review in the First Quarter but because we deal with a lot of Small Businesses they said this is coming second and Third Quarter people dont even know yet so what is going on people dont even realize they will be faced with this short may be just happen to know. Gerri you are just on the curve so i do you put them into obamacare . I dont know to be honest. That is part of the problem. There are some options but theyre all for this save money is significantly worse id benefits or significantly more of money to come out of someones pocket if it comes out of the employees pocket how can they come to work . The family plan is over 2,000 per month. It is already expensive but at what point is almost not worth going to work . Gerri this is the obamacare cost your company the gold planned 15 increase . That is what they have out of pocket expenses 20 coinsurance with a 50 but the platinum plan the 733 with a 33 it is the closest to what we have now about where does that money come from . It is not in the cheaper or the same that they told us. I expected some increase but not this much and where will it come from . Gerri a tiny the company now has to figure this out. What would you tell washington . I would have told them how to roll the ball better or beta test of the things that business would do with some things this major. I would love to compete across state lines i can make my own decisions i just did not get that opportunity gerri that is what makes people frustrated it is good for you. Take it. This is what you will pay. What do you think . Who do you blame for the losing your Health Care Plan . I will share the results of the end of tonights show how the feds policy of low Interest Rates could hurt your pocketbook with insurance. 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You hear lots of complaints coming out of the lifeinsurance industry people that were upset with policies that seems to be pretty dramatic. Absolutely right to. People by thoss in good faith paid premiums 10 or 1