Posted on 12/01/2012 5:36:20 AM PST by Libloather
The ObamaCare fiscal cliff
By: John Hayward
11/30/2012 02:34 PM
While we’re busy listening to President Obama demand a $1.6 trillion tax increase on some people as the price for disarming part of a $1.2 trillion tax bomb aimed at other people, let’s not forget that he’s already detonated a $1.058 trillion tax warhead on all of us: ObamaCare.
As the House Ways and Means Committee noted last summer, in the wake of the Supreme Court decision upholding ObamaCare, it contains 21 distinct tax increases, “a dozen of which target Americans earning less than $200,000 per year for singles or $250,000 per year for married couples.” In other words, the Sainted Middle Class.
And we’re not talking about the shape-shifting extra-Constitutional tax/penalty “individual mandate,’ either. That’s a mere $55 billion of the total. These are good old-fashioned cash grabs, no different than the $2,000 bite from Taxmageddon that “working Americans” are supposed to be upset about. Among the larger items is a surtax on capital gains that we delicate middle-class flowers will be encountering if we try to sell our houses.
(Excerpt) Read more at humanevents.com ...
One of the points I’ve maintained during this socialized-medicine debate is that, on one level, it is largely a moot point.
The feds do not have the funds to pay for it.
If they tap business for those funds, they will spike unemployment.
If they tap the individual for those funds, they’ll crush personal spending and retail sales.
Essentially, they can’t pay for Obammie-the-Commie’s version of socialist medicine, which is nothing new.
We will either be bankrupt and it will become a footnote in history of just another socialist’s reign.
Or it will bankrupt us, in which case, rather than a footnote, it will wear the dubious badge of a separate chapter in the history of just another socialist’s reign.
Forgot to add...
Of course, in Obama’s world, and as far as his plans for America, “D” is for “Dive.”
Unlike us mere citizens, the US Treasury can print all the money it wants. They can always pay back their debts -- but don't count on that money being worth too much.
Unlike the government machine, we can’t give ourselves more money. We are stuck mainly at what we get. The Dems should be told that they can have the whole tax decision and tax whomever, however much, but there is a stipulation. The Repubs are going to look out for the spending side, therefore no more can be spent than the new taxes pay for so that at least we don’t get worse off. This is what we would do if our income didn’t cover the bills. We’d stop increasing spending unless and until we got more income. So odd that the only time we hear “how will we pay for this” is if someone talks about cutting taxes..the ONLY time.
Forward!
We will have so many people feeding at the public trough that it will be close to impossible to prevent the death spiral. Obama's reelection shows we have already reached the tipping point.
Do that, and Obama becomes powerless. And America will be saved.
A rose by any other name...
You either have no money or the money you have is worth nothing, either way, you are bankrupt.
A funding provision for the Feds to set up exchanges in the states was not in the bill. Evidently, the "geniuses" who wrote it figured the states would gladly shoulder all the state-bankrupting costs. Every state that opts out of setting up an exchange (AZ & MI are the latest two) just adds more and more to the Obamacare fiasco from the Fed end of it. Logistically, trying to get the exchanges up will be a Herculean task, if they can even do it. I think the weight of Obamacare (as the states pull their 'legs' out from under it one by one) is going to collapse the whole thing eventually. The states need to keep on doing what a lot are doing ... just say NO to the Feds and tell them "your mess, you deal with it". This may be the way the states get a foot back in the door, literally & psychologically, with 'the people' for more state-centered government rather than central Fed governing. Obamacare's supposed "freebies" are going to be a huge disappointment to a lot of Obamaphoners (i.e. the hands out gimme gimme types).
THIS IS THE REASON HE WANTS NO DEBT LIMIT SO HE CAN FUND OBAMACARE!
Good points.
But never underestimate what these tyrants will do to maintain and increase their power.
If enough states pull out, Obammie and his Commies will ensure one of the leftist states sues for the other states to cover their costs. The USSC will support that and essentially rule that no states can opt out if just one state wants to opt in, because it wouldn’t be “fair” and this is an administration that believes in economic and social “justice.”
Remember, Obammie and his Commies can’t stand the idea of anyone pulling out. That is why they want contraceptives and abortions to be funded with federal tax dollars. Sorry. Couldn’t resist.
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