Monday, June 22, 2009

Another layer off the onion

As more of the Obama Healthcare Scheme unfolds more disturbing data is beginning to surface. Here are some facts for you to digest today.

About one in eight U.S. workers who receive health benefits from an employer -- more than nine million workers -- could pay higher income taxes on benefits as part of a Senate proposal that aims to raise billions of dollars to finance health-care reform, according an independent analysis of the proposal.

So in addition to your income tax this new back door method will ensure that anything that can remotely be considered compensation will be subject to tax. Liberal apologists will say in defense of this idea "but they are only going to tax the rich". For sake of argument lets take a look at the initial proposed numbers from chairman of the Senate Finance Committee, Sen. Max Baucus (D-Mont.).

  • Tax benefits of single workers who earn more than $100,000 a year and couples that earn more than $200,000. The presentation cites a previous estimate from the Congressional Joint Committee on Taxation [JCT] that the proposal would raise $161.9 billion over 10 years if the changes were effective on January 1, 2010.
  • Tax benefits that exceed a value of $6,182 for a single worker and a value of $15,700 for a worker who also receives coverage for his family. The document cites a previous JCT estimate that the proposal would raise $418 billion over a decade if the changes were effective January 1, 2010.
  • Tax those “base” benefits plus 10%, or a value of $6,800 for an individual worker and a value of $17,240 for families. The higher cap would eliminate taxes for some workers. The document says Baucus has requested an estimate, presumably from the JCT, of how much this proposal would generate in new tax revenue with the change effective January 1, 2013.
  • Tax base benefits plus 20%, or a value of $7,420 for an individual and a value of $18,840 for families, which would shelter even more workers from tax liability. Baucus also has requested, presumably from the JTC, an estimate for this proposal also effective January 1, 2013.
Watch how this unfolds. They roll out a tax that will only be applied to the rich, defined in Washingtonese as households that make over 200K per year. As the debate on this process unfolds do not be surprised as this number begins to creep downward to the point that the scope of this new tax will exceed the 9 million households it is expected to affect. This will affect every working family in the country who has the gall to have two working adults that are trying to eke out a better existence for their family.

This my friends is Socialism. Others will spin the story hither and yon but this is all about taking something you earn and giving it to someone else. In addition to increasing your yearly burden of feeding the Washington machine this will certainly impact your ability to be charitable. See what happens to organizations that truly help the poor. Churches and volunteer social programs that feed the hungry and clothe the naked will see dramatic dips in donations. Remember that most of these organizations can reliably provide social services with a minimum of administrative costs thus making sure that more of every dollar donated gets to the people who need it. How lean do you think the Washington bureaucracy will be that manages this new pile of untold government pork. Pork my friends that will have to be sustained by generations of our descendants long after we are dead and gone. Now can you see that when you are duped in to following Socialist ideas and you choose to cast your ballot for their vision of Utopia the reward you will receive. Less of your hard earned money for your family and more for someone else.

You can read the whole article here.

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