Thursday, June 28, 2012

....he's slicker all the time

Well, our current president has proven himself the all-time Grand Wizard of the Shell Game.

Recently, he opened our borders for millions of "Americans" that were a victim of being "born here" as a product of illegal aliens (ooops, sorry...not PC, the "undocumented.")

While his persistent promises of "no new taxes" ring in our ears, while his insistence that the dreaded, unwanted mandate would not impose new taxes on those who chose not to comply — his own attorneys argued successfully that it could be ruled on by the Supreme Court as a Congress-imposed tax.....and today it was.

And no matter how he tries to convince us otherwise — he's slicker all the time in his convincing speech — this Obamacare is a massive new tax on every American!

Although a clear majority of citizens, especially seniors, adamantly opposed the healthcare takeover, Former Speaker Pelosi urged "let's pass the bill, and then we'll find out what's in it."

And we sure are.

We now find that this takeover of one sixth of the nation's economy will cost initially at least twice what the president said it would, almost $1.7 trillion . . . and that's just the start. And who's going to pay for all that? Guess who — every taxpaying American, that's who.

Greek socialism, here we come, ready or not!

A technically bankrupt nation taking on ever more drastic, unpayable debt, succumbing to the Pied Piper siren song of "hope and change."

The inexperienced captain of the Titanic ship of state sailing the vessel straight toward the looming icebergs, proclaiming "victory for the masses."

These are all new taxes starting in less than 5 months. Some take full effect by 2014. This list does not include anticipated increases in insurance premiums or actual health care.

• New tax on individuals who do not purchase government-approved health insurance-$17 Billion

• New tax on employers who fail to fully comply with government health insurance mandates-$52 Billion

• New 40% excise tax on certain high-cost health plans.-$32 Billion
• Increase the Medicare tax on wages and self-employment income by 0.9% and impose a new 3.8% surtax on certain investment income (for individuals over $200,000 and couples over $250,000)-$210.2 Billion

• Increase, from 7.5% to 10% of income, the threshold after which individuals can deduct out of pocket medical expenses-$15.2 Billion

• Impose a new $2,500 annual cap on FSA contributions-$13 Billion

• New annual tax on brand name pharmaceuticals-$27 Billion

• New 2.3% excise tax on certain medical devices-$20 Billion

• New 10% tax on indoor UV tanning services-$2.7 Billion

• New tax on insured and self-insured health plans-$2.6 Billion

• Double the penalty for non-qualified HSA distributions-$1.4 Billion

• Eliminate the deduction for expenses allocable to Medicare Part D Subsidy-$4.5 Billion

• Limit the deduction for compensation to officers, employees and directors of certain health insurance providers-$0.6 Billion

America…land of the free! (Well, not anymore). Next blog: Obama’s quest to print Euro dollars? (or is it the Peso?)

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