Yesterday the House Democrats introduced a $1.5 trillion public health care plan riddled with new taxes and surtaxes on successful Americans aimed at redistributing their wealth, in the form of rationed government health care, to lower income brackets.
Bloomberg reports on the travesty:
July 15 (Bloomberg) — House Democrats plan to fund the broadest U.S. health-care expansion in four decades by increasing taxes on the wealthiest Americans, imposing a surtax of 5.4 percent on couples with more than $1 million in income.
The legislation unveiled yesterday would place additional taxes on households with more than $350,000 a year in income and calls for further increases if the measure doesn’t hit a target for cost savings. The provisions are intended to raise $544 billion over 10 years.
House leaders said the plan, which includes mandates to purchase coverage and a public health-insurance option, would cover 97 percent of Americans by 2019. President Barack Obama praised their work, saying it will “begin the process of fixing what’s broken” in the system.
Everyone needs to take notice of the little line in there about “further increases if the measure doesn’t hit a target for cost savings” since it means the taxes will move on down the line until they take the wealth they need to pay for health care.
This means that when taxing people who earn $350k and up isn’t enough, they’ll come for $250k, then $150k, then $100k and so forth on down the line. Pretty soon, you who are making $50k a year will be paying the health care bill for your neighbor making $40k a year.
Hot Air has more analysis on the “$1 trillion over 10 years” claim that the left is making:
Actually, it’s really a cool trillion over five years. Eyeball the graph Philip Klein posted this afternoon and admire the left’s sleight of hand. They’re using a 10-year timeline to create the illusion that the program costs $100 billion a year or so. In fact, it’ll be more than $200 billion once it gets going, which won’t happen until 2014, and that’s assuming that the cost projections aren’t wildly over-optimistic the way every other projection they’ve made this year has turned out to be. In fact, the trillion-dollar figure doesn’t even account for all expenses; as MKH notes, the CBO has yet to compute “administrative costs” of implementing the program or the effect it’ll have on other areas of federal spending. Still, give The One credit for consistency: Whether it’s borrowing from future generations to pay for the stimulus or hiding the costs of his health-care boondoggle by backloading them, he’ll gladly pay you Tuesday for a hamburger today.
Or, more precisely, the rich will pay. For now.
Here again, Politico mentions that the taxes and surcharges will climb when the socialized health care budget inevitably falls short:
To help pay for the estimated $1 trillion bill, lawmakers have decided to tax the wealthy. A married couple making more than $350,000 and less than $500,000 would be hit with a 1 percent tax, those making between $500,000 and $1 million would be assessed a 1.5 percent tax and those making more than $1 million would see a 5.4 percent surtax added to their tax bill. Some of the rates could climb if anticipated savings from elsewhere in the bill did not materialize.
The rates will climb as the program balloons out of control. Remember all those rosy estimates from the White House on the economy and how badly they fell short? Think of that but a million times worse on this health care legislation from congress.
Also, think about social security and medicare, two terribly run socialized government programs. Their costs are fart exceeding what they can handle and they have been running them for decades. Congress is atrocious at running social programs, they fail every time and you and I, the taxpayers, are left footing the bill for these incompetent morons on capital hill.
There is much controversy surrounding this bill and I believe the American people can mobilize against it. Many representatives and senators are weary from voter backlash, it’s time they hear from you tenfold everyday on this issue. Phone calls, faxes, emails – everything you can send at them, they need to hear just how opposed you are to tax increases and wealth redistribution for government-run health care.
The GOP leadership has produced an easy-to-understand chart depicting exactly how this new efficient government-run health care plan will function:
Seems simple enough, what could go wrong?