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Happy Anniversary Honey! But Not Really!!!
Now We're Seeing "What Is In It!"
Anniversary's should be such joyous occasions but such is not the case with the second year since the passage of Obama's signature piece of legislation affectionately known as Obamacare. Hopefully soon the divorce will be final when the Supreme Court strikes down this fiasco as being unconstitutional. It was a bad idea then and remains a bad idea now. It wasn't popular with the people when he rammed it down our throats instead of paying attention to job creation and remains even more unpopular now as we find out what is really in it and what it really will cost the US tax payer. Now keep in mind that Obama would never lie to us nor use the smoke and mirrors routine to get his way. Or would he?
Really San Fran Nan?
Now bear in mind that Obamacare is over 2,500 pages long and more than 500,000 words of a lot of mumbo-jumbo and many hidden taxes which we are all about to feel if the law is allowed to stand. It's cornerstone is the individual mandate which is intended to be the stepping stone for expansion to a single payer health care system. This wasn't the first time our elected professional pick pockets signed a bill without bothering to read it and it probably won't be the last. One thing for sure though is that Obamacare is bad medicine. Notice also that it isn't something Obama wants to talk about on the campaign trail, which he calls official business trips, because it is even more unpopular than he is at the present time but he's catching up quickly.
Coincidentally, it was also discovered by the Congressional Budget Office that the cost of Obamacare is actually twice the cost that was initially touted. Why is it that I always have to be a bearer of bad news about this administration? Wednesday's revelation projects the actual cost to the American tax payer over the next ten years to be $1.76 trillion. You have that kind of money? Does the government have that kind of money? The government has "NO" money because it makes nothing but grief for those of us who pay taxes to finance its foolishness. Evidently Obama doesn't understand that we can't afford all his whimsical spending be it on health care or algae powered cars. We're broke!
Back When The Tap Dance In Action...
Remember over the past three years how many times Obama has promised not to raise taxes on the middle class. Well, he is lying through his teeth as usual. There are at least 20 provisions in his signature piece of legislation that either raise taxes, or create new ones, on those of us who make less than $250K a year. That's Obama's definition of the middle class, not mine. Of the 20, five will impact the elderly the most. Now you know how those older folk can afford to finance the world according to Obama. Lets run some of them down for your reading pleasure.
Dividends please step up to the plate. Your current sentence is 15% on your dividend income. You will now have to pay 39.6% beginning January of 2013. Doesn't that just encourage you to invest and save? Right now according to the IRS anyone over 55 receives 70% of the dividends paid. If you make more than $250K you will be hit with an additional surtax of 3.8% which ups the ante to our wasteful government to a mere 43.4%.
Next up to bat is the medical device excise tax which comes on line in 2013. You know the little people who make things like wheelchairs, walkers, prosthetic devices, pace makers and such. Now who do you reckon is the major purchaser of such items. Yes, it's Grandma and Obama is going to push her over the cliff starting next year. The unintended consequence is that medical device manufacturers are even now shuttering plants, moving overseas or down sizing with the knowledge that their profits are about to take it in the shorts. CYA Grandma! Whoopsie... Great for increasing unemployment, don't ya think?
Lets get to ALL Americans now, at least those of us who actually pay income taxes. Speaking of being fair Obama, what about that bad deal? Next year there will be a decrease in your allowable deductions. So if you were able to deduct expenses before over 7.5% of your Adjusted Gross Income (AGI) just plan on raising that to 10%. So no new taxes on the middle class? The bill is riddled with them. They're called "hidden taxes."
An especially cruel provision pertains to what is called "The Special Needs Kids" tax. That's affectionately called the Flexible Spending Account Cap in the bill. Starting in 2013 that will be capped at $2,500.00. The thousands of parents who now use FSA's to help pay to meet the educational needs of their children, which is rather expensive, will have to suck it up. There go Little Johnnie and Janie over the cliff after Grandma.
Also coming next year is a new real estate tax on the sale of your home. That will be a mere 3.8% on the sale of your most valuable investment. I'm still scratching my head wondering what my house has to do with health care. Maybe someone can explain that to me.
Makes It Hurt Too
You getting the picture here yet? Here's a link to some of the taxes that are either coming down the pipeline or have already taken effect. This was all in the timing for Obama's reelction run. Of course he didn't want the middle class to wake up and sock em in the wallet.
Take A Gander Then Check Your Wallet
So Happy Anniversary to Obamacare. In about two weeks we'll hear the arguments at the Supreme Court of The United States and hopefully the divorce will become final this summer. It wasn't what the American people wanted back when he signed it without anyone having read it and it's even more unpopular now. Such is the case with some marriages.
Quote by Queen Pelosi yesterday on the House floor: “what our founders put forth in our founding documents, which is life, liberty, and the pursuit of happiness. And that is exactly what the Affordable Care Act helps to guarantee.”
The Frog Prince