Friday, July 17, 2009

Democrats digging a hole to China with Health Care Reform

Democrats’ Bureaucratic Health Care Monstrosity
(For larger chart click here)
Vice President Joe Biden told people attending an AARP town hall meeting that unless the Democrat-supported health care plan becomes law the nation will go bankrupt and that the only way to avoid that fate is for the government to spend more money.—
Democrats’ health care plan will put the American economy in such a deep hole that we will literally be able to see China. According to Vice President Joe Biden America is going bankrupt and the only way to stop it is to spend more money, like spending over a trillion dollars on Barack Obama’s and the Democrats health care reform. (see story)

Well that cockamamie idea makes as much sense as digging a hole from the USA through the earth’s molten core all the way to China. Yet Obama and the Democrats are selling their so-called health care reform as mandatory to preventing a coming fiscal apocalypse just like Al Gore sold Global warming in 2000. (Hey shouldn’t we all be dead by Gore’s calculations?)

Same thing with Obama he told America if we didn’t just sit back and watch the Democrat controlled Congress allocation $787billion dollars in stimulus money for Democrat pork spending then the whole US economy would melt down, vaporize or both (up until now only about 6% of the emergency stimulus money has been spent just as Democrats planned from the beginning). So Democrats passed the stimulus bill and are sitting on the bulk of the money to help them win reelection in 2010 and 2012. Aren’t Democrats just wonderful Stewards over our nation!

And then there’s this, as reported by USA Today the Congressional Budget Office reports that health care as planned by Democrats will bankrupt America. (see story)
Democrats' health care bills won't meet President Obama's goal of slowing the ruinous rise of medical costs, Congress' budget umpire warned on Thursday, giving weight to critics who say the legislation could break the bank. –AP Washington
And also this, the organization Americans for Tax Reform reports that the Democrat health care bill is laden with usurious taxes across the board meaning that Obama’s promise not to raise taxes on the middle class was just a lie.
A draft of the House Democrat health care bill is out, and it's been leaked to ATR staff. There are several major tax increases in here, most of which violate the Taxpayer Protection Pledge. They include:

• a tax on individuals failing to sign up for health care equal to the lesser of 2.5% of adjusted gross income (AGI) or the average individual premium amount
• a tax on employers for not providing a health care plan equal to 8% of payroll. This becomes 0, 4, or 6 percent of payroll as payday totals dip below $400,000 annually
• a new and undetermined excise tax on health insurance plans
• codification of the "economic substance doctrine," whereby businesses would not be able to engage in legal tax avoidance techniques without demonstrating a bona fide business purpose
• delay of worldwide interest allocation, a baby step toward the full double-taxation of corporate profits earned overseas
• the big one--a new "surtax" on the AGI of small businesses and other high income earners. Here's the details:

1% on AGI of $350,000 to $500,000
1.5% on AGI of $500,000 to $1,000,000
5.4% on AGI of over $1,000,000
Those brackets are 50% if you're Married Filing Separately, and 80% if you're Single or Head of Household

This will result in a top rate of 45%, and a capital gains rate of over 25%. It's more than that when you factor in that this surtax is not on taxable income, but on adjusted gross income. Factoring that plus state income tax in means that the top rate will exceed 50%, and the capital gains rate will exceed 30%. (source)

Democrats' health care bills won't meet President Obama's goal of slowing the ruinous rise of medical costs, Congress' budget umpire warned on Thursday, giving weight to critics who say the legislation could break the bank.

The sobering assessment from Congressional Budget Office Director Douglas Elmendorf came as House Democrats pushed to pass a partisan bill through committees, while in the Senate a small group of lawmakers continued to seek a deal that could win support from both political parties. (source)
This information is not coming from wild-eyed Republicans attempting to thwart Barack Obama in hopes that he will fail.

No if you though that there were any Republicans in Congress in opposition to Obama the Senate Judicial hearings should have dispelled such notions when Republicans joined hands with Democrats and sung Coom ba ya and give Sonia Sotomayor their blessings to fight and prevail against the mean old Conservative Justices that are already on the Court.

No this dismal negative information about Obama’s health care initiative is coming from other than Republican sources. (see story)

So what are Republicans saying?

Republicans who have the moxie and the integrity stand up to Democrat’s Health Care catastrophe are attempting to warn the American people that we are in grave danger if Democrats pass this so-called health care reform. One such Congressman is Representative John Boenher who shows a chart of the incredible bureaucracy that Democrat health care reform would produce. (see 1:37min. video)

Democrats are determined to dig a hole to China literally. If this health care reform is passed Democrats will have dug a fiscal hole in our economy so deep that we would literally be depending on China (a nation that already holds too much of our debt) to hold even a larger stake in America as we borrow money to help defray the cost of socializing America’s health care system.

Obama’s health care reform is too costly and layered in too much bureaucracy both things are ingredients for fraud, waste and poor government health care,none of which will keep Democrats from enacting it but I thought the American people ought to know.

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