The consquences and pain of Obamacare do not start their assault on America until next year. It is when Obama goes after all those people who did not build their businesses as he would say. It is when he can distribute the poverty to us all.
Starting in 2013, a 0.9% Medicare tax will be levied against income above $200K for singles and above $250K for couples. There is no inflation adjustment so the tax will hit more people every year Obamacare exists.
In addition, there is a 3.8% tax on investment income starting in 2013 to fund Pelosi's unread monstrosity.
These two taxes will primarily hit top income earners. The top 10% of taxpayers already pay 70% of the income tax paid to the federal government.
In following years, taxes on high cost insurance plans and medical devices will follow. That is unless it is a union plan and Obama has already granted an exemption. The burden of these costs will eventually end up in higher health care costs ultimately paid by patients. Government patients not included. Medicare or Medicaid will just refuse to pay any more further shifting costs to people who pay their own way. The government plans will even look for reasons to pay less.
Somehow, all of this is supposed to save money if you talk to liberals. Given they elected a president who lives in fantasy land, are we really surprised? Many liberals are really upset with the fact Obama once smoked marijuana and now will not legallize it at the same time. What is that data on frequent cannibus use and psychosis again?
Medicare has already cost the government well beyond any projections that were made when it was started. Equally made poor projections have been made by the CBO that even former CBO people admit were based on false assumptions.
Even if you believe the bogus arguments about how much Obamacare costs the government, the costs to individuals and companies will be staggering.
Liberals want to keep talking about "coverage for all," "no caps," "no denial for pre existing conditions," and "coverage for kids until 26." All of this costs money. No worries, we will just ask people to keep paying more since they do not pay a fair share.
There is nothing in Obamacare that will control costs. Costs are going to continue to rise. If anything, more people will be on government plans where they will not feel the cost and overutilize the system. Studies already show Medicaid patients use the emergency room more than the uninsured. Why not? It does not cost them much because everybody else is paying.
The tax code gets more complicated. The IRS also now gets to track down people who do not get health insurance. More government bureaucrats that do nothing to make the country better are employed. Talk about a way to make sure Democrats have voters.
Alas, this is not just a Democrat issue. Republicans can be just as warped in their thinking patterns.
Senator Marco Rubio (R-FL), hero to Tea Partiers everywhere, recently introduced a bill to exempt Olympic earnings from taxes. His argument is that the tax code is complicated and burdensome mess. And his solution is to add more levels to the mess? It seems Rubio is channelling his inner pandering Palin on this one. Is there a socialist dairy he can save in Florida somewhere?
The truth is if you make money you should pay taxes on it. Rubio and Obama and everybody in DC should settle on a simplified fair or flat tax or some combination. Using the tax code to play pandering games like Rubio or class warfare like Obama is destructive to the country.
It all comes down to politicians wanting to give people things for free. It is a pandering tactic that does not know party lines. Granted, Obama is a league all his own because he does not have the first clue what it means to actually work hard in the real world but when so-called conservatives like Rubio get involved one must simply shake their head.
Washington DC needs less thousand page bills and more simple straight forward solutions. We need less complicated regulations and more streamling of process. We need more people actually making things and providing real services in this country rather than managing. We need more people who actually get fired when they complain somebody is asking them to work.
The problem is as soon as you start taking complication away you take away the government industry of complication. You take away the private industry of lawyers, accountants, and clipboard carriers designed to comply with the compliance. That is a lot of people and they all vote.
Obamacare is not free. It only seems that way to the uninformed. And if the average guy routing on Michael Phelps is paying taxes so should Mr. Phelps.
Anybody else know what Obama and Phelps have in common?