Showing posts with label Tax increases. Show all posts
Showing posts with label Tax increases. Show all posts

Monday, September 21, 2009

Who Are You Going to Believe…Me, or That Lying Dictionary?


Obama has decided to sacrifice his credibility in pursuit of his health care agenda. If that wasn't perfectly clear before Obama's media blitz on Sunday, it certainly is now. In his interview with ABC's George Stephanopoulos, Obama explained that a tax ain't a tax unless he says it's a tax:

ABC: You were against the individual [health insurance] mandate...during the campaign.

OBAMA: Yes.

ABC: Under this mandate, the government is forcing people to spend money, fining you if you don’t. How is that not a tax?

OBAMA: Now what I've said is that if you can't afford health insurance, you certainly shouldn't be punished for that. That's just piling on. If, on the other hand, we're giving tax credits, we've set up an exchange, you are now part of a big pool, we've driven down the costs, we've done everything we can and you actually can afford health insurance, but you've just decided, you know what, I want to take my chances. And then you get hit by a bus and you and I have to pay for the emergency room care, that's...

ABC: That may be, but it's still a tax increase.

OBAMA: No. That's not true, George. For us to say that you've got to take a responsibility to get health insurance is absolutely not a tax increase. What it's saying is, is that we're not going to have other people carrying your burdens for you anymore than the fact that right now everybody in America, just about, has to get auto insurance. Nobody considers that a tax increase. People say to themselves, that is a fair way to make sure that if you hit my car, that I'm not covering all the costs.

ABC: But it may be fair, it may be good public policy...

OBAMA: No, but but, George, you you can't just make up that language and decide that that's called a tax increase. Any...

ABC: I I don't think I'm making it up. Merriam Webster's Dictionary: Tax "a charge, usually of money, imposed by authority on persons or property for public purposes."

OBAMA: George, the fact that you looked up Merriam's Dictionary, the definition of tax increase, indicates to me that you're stretching a little bit right now. Otherwise, you wouldn't have gone to the dictionary to check on the definition.

Obama makes a lot of audacious claims here. Particularly absurd is the assertion that the Dems are pushing ObamaCare to promote personal responsibility. There can be little doubt that the primary reason for the individual health insurance mandate is "far more cynical and political." As Rivkin and Casey note, the individual mandate is a "cross-generational subsidy...essential to winning insurance industry support for the legislation and acceptance of heavy federal regulations." The young and the healthy will be forced to carry the burdens of the old and the unwell (or illegal) by paying for excessive government-approved coverage...at the behest of the Obama regime.

Obama has admitted as much: "Unless everybody does their part, many of the insurance reforms we seek especially requiring insurance companies to cover pre-existing conditions just can’t be achieved."

I also take umbrage with the notion that lack of insurance precludes payment for unexpected health expenses. Thomas Sowell has written an excellent article that shreds that myth to bits:

What did we do, back during the years when most Americans had no medical insurance? I did what most people did. I depended on a "single payer" myself. When I didn't have the money, I paid off my medical bills in installments.

The birth of my first child was not covered by medical insurance. I paid off the bill, month by month, until the time finally came when I could tell my wife that the baby was now ours, free and clear.

In a country where everything imaginable is bought and paid for on credit, why is it suddenly a national crisis if some people cannot pay cash up front for medical treatment?

The most objectionable of Obama's claims is the incredible declaration that his tax isn't a tax...simply because he says it isn't.

Do we need a definition czar?

In the very same interview Obama had said that this year's projected increase in total health care spending equates to a tax increase on American families:

"...you've got what is effectively a tax increase taking place on American families right now. The Kaiser Family Foundation report just came out last week. Health care premiums went up 5.5 percent last year at a time when the rest of the economy, inflation was actually negative. So that is a huge bite out of people's pockets."

So money that goes to the health care industry is a tax increase, but money that goes to the government is not? I'm confused.

As The blogprof points out, Obama has a history of dubious claims about tax cuts, taking credit for consumer savings that have nothing to do with tax revenues. "In the case of mortgage refinancing, Obama himself claimed a tax cut even though actual money paid to the government (i.e. - taxes) wouldn't change..."

Update:

Why don't we just point out the obvious?

Let’s all open up our copy of the Baucus plan and turn to page 29. We find ourselves in SUBTITLE D: SHARED RESPONSIBILITY. And what does the bill tell us will happen if you fail to purchase health insurance?

Excise Tax. The consequence for not maintaining insurance would be an excise tax.

Sunday, March 22, 2009

Money For Democrats Dries Up


Are Democrat donors bearish on their party's future?

The Democratic National Committee raised $3.2 million in February, a strikingly low take for a financial juggernaut led by President Barack Obama and his legions of grass-roots supporters who helped him shatter campaign fundraising records.

Even the committee's Republican counterpart raised more  $5.1 million  last month and did so under more difficult circumstances. The GOP was coming off of a disastrous election in which it lost the White House and saw its numbers in Congress shrink further. New GOP chairman Michael Steele also had a rocky start.

Overall, monthly reports being filed Friday with the Federal Election Commission show the Republican National Committee in healthier shape than the Democrats as both parties start raising money for special congressional elections and governor's races in Virginia and New Jersey this year, as well as congressional elections in 2010.

The DNC reported $8.6 million on hand and $7 million in debt, while the RNC reported $24 million in the bank and no debt.


More


CEOs Push Back on Bonus Tax

A Hidden Agenda Behind the 90 Percent Tax?
You see, taxes matter. They hugely impact economic behavior. The whole economic system is run on incentives to work, invest and take risks. And it must pay, after tax, to ignite the entrepreneurial activity that really drives the economy. Like it or not, our free-market capitalist system is driven by the economic activist, provided he or she is properly rewarded.

Maria Shriver: Obama Special Olympics 'joke' hurts
Maria Shriver says the reaction to Obama's joke shows there is still more work to do. She says laughing at such comments "hurts millions of people throughout the world."

Wednesday, March 4, 2009

Obama's Fearless Critic

The Dow-Jones Industrial Average since the passage of the stimulus bill.

There's one critic Obama can't silenceone critic Obama can't ridicule or intimidate.

There's one critic who will never be afraid to point a finger at Obama and condemn his stupid ideas, and this critic has a very harsh assessmet of Obama's performance.  

Obama's toughest critic is the market.  At this point, there is no question that the market is circling the drain as a result of Obama's plans, policies and propaganda.


More


The DJIA since the passage of the Spending Bill. 
Looks like a vote of “no confidence” to me.

Upper-Income Taxpayers Look for Ways to Sidestep Obama Tax-Hike Plan
I don’t make enough to put me in the $250K+ bracket that Obama will be targeting. Despite that, I am doing everything I can to lower my tax footprint by maximizing my 401K contributions and perhaps working less overtime at work. I simply do not want to work harder so I can fund these socialist programs that will damage our economy.

I have a friend in Denmark who tells me that workers there don’t especially value pay raises because they’ll lose 70% to taxes. Instead, their preferred bonus is extra vacation time, as the government can’t claim 70% of that (yet).

Me? I’ll probably go back to school and ride out the recession with education entitlements instead of doing anything productive. The best way to fight entitlement programs, after all, is to bleed them dry instead of feeding them.

I wonder if our intrepid social engineers simply don’t understand basic human behavior and the correlation between productivity and quality of life, or if they simply see economic equality as a more noble goal for society than high quality of life.

A Tax Code Based on Fairness?
Treasury Secretary Tim Geithner said that Obama's budget reflects "a deep moral imperative to make our society more just.  But it's very good economic policy too.  It will mean there is again a fairer, more equitably shared tax burden on the vast majority of Americans." Excuse me, but what in the h*%! is this tax cheat talking about? "More Just?"  Geithner and Obama are absolutely dependent on the ignorance of the American people here.

Lawmaker Wants Barbie Banned in W.Va.
Barbie could get an unwelcome present for her 50th birthday: outlawed in West Virginia.  A state lawmaker proposed a bill Tuesday to ban sales of the iconic Mattel doll and others like her.

Saturday, February 28, 2009

RightKlik Rewind: Marxism

Solve this problem:

Democratic President + Democratic Senate + Democratic House of Representatives + Democratic Media =  ?

HINT:



More:



A President Who Won't Uphold the Constitution?


Taxing the achievers
There are people who actually believe that Obama is going to succeed in his quest to return economic prosperity to our country through taxation. There are also people who believe that wet streets cause rain. These people are commonly called "idiots."

*This classic weblog post was originally broadcast on October 29, 2008, but if you didn't read it, it's new to you!