Source: Wall Street Journal Online
The Obama Administration and the radical leftist Democrats in congress are hell-bent to pass a healthcare "reform" bill that is not reform, but a major tax hike and it will destroy the best healthcare system in the world.
The Wall Street Journal wrote:
But the most remarkable quality of this health-care exercise is its reckless disregard for economic and fiscal reality. With the economy still far from a healthy recovery, and the federal fisc already nearly $2 trillion in deficit, Democrats want to ram through one of the greatest raids on private income and business in American history. The world is looking on, agog, and wondering why the United States seems intent on jumping off this cliff.
On funding this idiotic scheme, the WSJ also wrote:
A new payroll tax. Unemployment is at 9.5% and rising, but Democrats will nonetheless impose a new eight percentage point payroll tax on employers who don't provide health insurance for employees. This is on top of the current 15% payroll tax, and in addition to a new 2.5-percentage point tax on individuals who don't buy health insurance. This means that any employer with more than $400,000 in payroll would have to pay at least 25% above the salary to hire someone. Result: Many fewer new jobs, with a higher structural jobless rate, much as Europe has experienced as its welfare states have expanded.
Other new taxes, including an as yet undetermined levy on private health plans. This tax, which Democrats say could raise $100 billion or so, would make it even harder for private plans to compete with the government plan, which would already benefit from government subsidies and lower capital costs. For good measure, the House bill also gets the ball rolling on tax increases on foreign-source corporate income.
The WSJ published this table on what the tax rates would be if this healthcare bill is passed (along with tax hikes some states, like California, have already imposed) and compares them to other countries and some states:
To read the full article, go here.
This legislation will kill jobs, ration healthcare, take medical decisions away from doctors and put it into the hands of Washington bureaucrats, add more tax burdens on taxpayers and it will kill small business. Do you want the same people who caused the mortgage meltdown to handle your healthcare?
Now is the time to contact your member of congress and tell them to vote against this legislation. Nancy Pelosi is trying to ram this through within the next two weeks.
It needs to be stopped and it needs to be stopped now!
1 comment:
California taxes its top income earners more than 10 percent, meaning that between state taxes, federal taxes, Medicare taxes and the proposed health care surtax, one would face a total tax rate of more than 56 percent on part of their income.
And on top of everything, they are going to have to pay for everybody else's health insurance?
And this is fair how?
According to a report this month by the Tax Foundation, a tax research group based in Washington, D.C., wealthy taxpayers in 39 states could pay a top tax rate higher than 50 percent by 2011.
Are you flippin kidding me?
To quote Texas Governor Rick Perry on how to run a State...I think the same holds true on how to run a nation. Wake up Obama...wake up U.S. Congress or we are all going to perish under your dictatorship.
“You keep your taxes low, keep your regulatory climate fair and predictable, a legal system that doesn’t allow for oversuing, and keep a skilled workforce in place. Then get out of the way and let the private sector do what the private sector does best and create jobs and wealth.”
God help us all.
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