Obama seeks $634B over 10 years for health care

Source- news.yahoo.com...

Obama's budget proposal would effectively raise income taxes and curb tax deductions on couples making more than $250,000 a year, beginning in 2011. By not extending all of former President George W. Bush's tax cuts, Obama would allow the marginal rate on household incomes above $250,000 to rise from 35 percent to 39.6 percent, said an administration official.
The plan also contains a contentious proposal to raise hundreds of billions of dollars by auctioning off permits to exceed carbon emissions caps Obama wants to impose on users of fossil fuels to address global warming. Some of the revenues from the pollution permits would be used to extend the "Making Work Pay" tax credit of $400 for individuals and $800 for couples beyond 2010 as provided in the just-passed economic stimulus bill.
About half of what officials characterized as a $634 billion "down payment" toward health care coverage for every American would come from cuts in Medicare. That is sure to incite battles with doctors, hospitals, health insurance companies and drug manufacturers.

I am absolutely beside myself with anger right now. Two trillion in one week?
TWO TRILLION IN ONE WEEK! $2,000,000,000,000.00

Of course this hasn't been released. Please note the words "Down-payment"...

This implies, of course, that there will be more to pay, the "principle" if you will.
Ann Rand warned about this in her essays, and you are front row and center for the death of capitalism.

Any thoughts people? I don't want to ramble, not when I can point out how this Socialist will destroy your lives......and already is.

Jason

Where does Obama think this $$ is going to come from?

Does he REALLY think China is going to keep on buying our T-bills?

Or is he simply trying to accelerate the complete collapse of the USA?

What I want to know is what companies are going to profit the most from this new legislation and their relationship to members of Congress?

The talks, which are taking place behind closed doors, are unusual. Lobbyists for a wide range of interest groups — some of which were involved in defeating national health legislation in 1993-4 — are meeting with the staff of Mr. Kennedy, Democrat of Massachusetts, in a search for common ground.

www.nytimes.com...


Remember how people had a problem with Cheney about meeting oil execs in closed door meetings. I view this the same.

As far as the 250,000, even if Obama doesn't tax those making less than 250,000 these people will still be reimbursing those paying the tax on 250,000 or more in the form of higher prices IMO.

reply to post by jam321


Another thing that I just noticed.....

The budget for 2009 will exceed $1.5 trillion and gradually ease to $533 billion by 2013, administration officials say.

this is from the same article....

Now President Obama's words yesterday?

President Obama pledged Monday to cut the nation's $1.3 trillion deficit in half by the end of his first term.

edition.cnn.com...

So Bush left office with a couple of years where the deficit went above 400 billion, the record being 2008's $438 billion.

The federal budget deficit hit a new record in the just-completed 2008 budget year under the latest estimates from the Congressional Budget Office.
The record $438 billion shortfall for the budget year that ended last week is up from $162 billion posted last year. The previous record of $413 billion was posted in 2004.

www.usatoday.com...

So what deficit is he cutting in half ? The very one that he created?
This is INSANE!!!

Basically what it boils down to is a number game. They will use a number of projections and estimations to reach their desired goal, In the meantime, the actual debt continues upward with no end in sight.

Great! for a minute there i almost forgot that everything the government puts their fingers in comes out more efficient and stronger... not mention ALL great discoveries/inventions are government funded..... taking tax money from the private sector is ALWAYS a GREAT idea!

reply to post by djon01


Good point! I believe that we should ignore ALL Empirical Data that suggests that cutting corporate and personal taxes actually stimulates the economy and boosts both tax revenues and the GDP. Why stick to facts when we have the opportunity to convince people that it's the rich people's job to take care of everyone, and now all you have to do is keep voting the socialists into power!

Mark my words; The more the gov't takes, the less the things they take will work.

[edit on 26-2-2009 by jasonjnelson]

Originally posted by jam321
What I want to know is what companies are going to profit the most from this new legislation and their relationship to members of Congress?

The talks, which are taking place behind closed doors, are unusual. Lobbyists for a wide range of interest groups — some of which were involved in defeating national health legislation in 1993-4 — are meeting with the staff of Mr. Kennedy, Democrat of Massachusetts, in a search for common ground.

www.nytimes.com...


Remember how people had a problem with Cheney about meeting oil execs in closed door meetings. I view this the same.

As far as the 250,000, even if Obama doesn't tax those making less than 250,000 these people will still be reimbursing those paying the tax on 250,000 or more in the form of higher prices IMO.

Cap and Trade was one of the key issues the Republicans warned people about during the election. But no one wanted to listen.

With how our economy is set up and our current financial problem, we can just NOT AFFORD THIS.

We are going into a recession.

So is his goal to just keep those without jobs alive to continue feeding off of those WHO WORK?

Does he not realize that MOST Americans only make a comfortable amount of money compared to the large sum he makes?

Yeah the rich might be getting hit harder percentage wise than most of us, but IT ONLY GOES SO FAR.

These policies seem to be getting more and more socialist while the all the people it is helping milks the system anyways of all the other benefits.

The only type of more government policies I am for is education. People need BETTER JOBS, not to be spoon fed all of their life with no regards to those paying for it.

Even with all my hate towards Obama before the election, I still thought that he was somewhat for the people. How wrong was I. All he is doing is installing the most liberal policies ever. While liberal is not necessarily bad , POLICIES LIKE THIS ARE.

Call me selfish?

I have no sympathy in regards to economic situation for 90% of the people in such situations. It is so obvious that they threw away their life at such young ages that there is no turning back (unless they get education, which is why I said that would be one of the only pro-gov things I would want).

Now, on top of that - we are broke. We are beyond broke. Yet somehow plans like this will more than likely go through. Am I missing something? Does national debt not matter? Even with all the money we borrowed, does it matter since we are already so tied up with many other countries economically?

EVEN if we had the money for plans like this - it will never fix the problem.

The power of learning defeats every other method in this world.

Welfare like this sickens me.

The number one solution for people in dire situations was to plan ahead so they would never end up in such a bad ending.

Yes I believe in welfare for those laid off - but only for a limited time. They also need proof of finding a job.

More and more people are becoming government dependent - THAT IS BAD. THE GOVERNMENT WILL MILK YOUR MONEY TO HELL AND FURTHER!

Let us continue crushing the motivation of the un-motivational and then we will all finally be sitting here looking at one another asking who wants to work.