Saturday, March 20, 2010

For bankruptcy and socialism

This article states that
the latest so-called "health reform" bill -- Friday it turned out the latest version would raise to 3.8 percent a new job-killing tax on investment income, meaning "overall tax rates on income from interest, annuities and royalties would rise to as much as 43.4 percent," according to Bloomberg News. The new scheme would also impose a new 10 percent excise tax on indoor tanning services!

It also states that
Court challenges both to the insurance mandates in this bill, and to the procedural trickery being used to force it through, will festoon the courts for months and years to come, even as our overseas trading partners increasingly balk at buying the promissory notes needed to fund this wobbling house of cards.

If the bill will be tied up in courts for months or years, what is the rush? Why not do it right the first time and it will be as soon as it is passed? Notice that it also includes tax increases. You can bet that you will have more tax increases in the future just to cover the cost of this bill.

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