Wednesday, July 15, 2009

ObamaCare taxing and spending

AmSpec's Phillip Klien has this chart on ObamaCare, a new $200 billion/ year entitlement spending program:

How its paid for:

Revenue-raisers include: $544 billion from a new income tax surcharge on single people making $280,000 a year and households making $350,000 and above; $37 billion in other tax adjustments. About $500 billion in cuts to Medicare and Medicaid. About $200 billion from penalties paid by individuals and employers who don't obtain coverage.

Wall Street Journal on the cost: The Democrats will hit an 8% payroll tax on business if they dont follow Govt mandate, that's any business with a payroll above $250,000; and another $500 billion income tax increase, rich will pay income tax rates not seen since Jimmy Carter days (and that went *so* well); and they tax individuals who dare to go health insurance free, e.g., if you are self-employed and make about $60,000 and don't have Govt approved health insurance, you get taxed. And they are going to carve out 'savings' from Medicare and Medicaid by screwing the doctors and patients in those systems.

Then they add mandates and complexity that will eventually destroy our private health insurance options, the ultimate end-goal for the liberals is a 'single-payer' fully socialized medicine system, 100% govt, 0% private. Turns out most of the uninsured are doing so out of choice, and only about 8 million of the uninsured really need assistance that is unavailable from existing extensive Govt programs.

So to help 8 million, the healthcare system is going to be nationalized and screwed up beyond all recognition for the 90% rest of us. This bill is a nightmare and a clear and present danger to our jobs and the economy.

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