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|Mitt Romney on the campaign trail during the Republican Primary|
After the recent primary caucuses and elections, presidential hopeful, Mitt Romney claimed that if he became president he would tackle the deficit by repealing the health care bill (Patient Protection and Affordable Care Act). He continued to claim that repealing the bill would save $95 billion a year. Not only is the latter statement completely false according to politicafact.com, but it is quite the opposite of the reality. Over the next 10 years, the PPACA is projected to lower the deficit by $143 billion. This will be done through a variety of means including a medicare payroll tax to those earning over $200,000 being the primary method. Others include some fees on the medical industry, the tanning industry, and a $2000 fine to large employers that do not offer insurance and their employees who therefore utilize the individual exchanges (marketplace). Finally, there are measures to cut down on waste, fraud and abuse, end overpayments to medicare advantage, an excise tax on high end plans, stronger restrictions for Health Savings Accounts (HSA) and of course the highly debated fine for not adhering to the mandate.