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Congratulations! Obama is going to raise our taxes!

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posted on Jun, 13 2009 @ 09:33 AM
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Have fun digesting this one guys...

Bloomberg

Obama has pledged that health-care changes won’t add to the deficit. To accomplish that, he’s proposed getting about $600 billion by reducing tax deductions available to the wealthy, and by trimming Medicare payments to insurance companies.

That won’t be enough to cover the overhaul costs. Obama said this week he plans in the coming days to disclose more proposals for raising “additional sources of revenue.” In a letter last week to Senate Democrats drafting legislation he said he will be proposing between $200 billion and $300 billion in further Medicare and Medicaid cuts...

“We have a problem in not wanting to attract enough negative attention to the bill in terms of the pay-fors,” he said. “Let them get a good feel for the coverage.”



Here's Zero Hedge comments on the matter:

Why raise taxes? Can't the Treasury just print a cool quadrillion (in bearer bonds, to be unsuccessfully smuggled by vicious ninjas into Bern so that UBS can pretend to be buying up long-dated maturities for its own account) and that will be that. Timmy has already stocked up on enough paper to run the printers at turbo for a good 4 years (and even accounted for the occassional PC Load Letter error) and Ben has bought every single available Port-A-Potty (Citi, BofA, Regions Financial) in which to flush all the little green pieces of paper that he buys from Timmy.

Additionally as Obama has pretty much staked his political career on only raising the taxes of those who make over $250,000 per year. That's what - 4, maybe 5 million Americans? So, $600 billion divided by 5 million, that makes... oh, about $120,000 in tax increases per person.

Silver lining - a definite stock recommendation: buy the airlines (preferrably in the next five minutes before Goldman runs oil to over $100 and Delta files for Chapter 44 or whatever iterration of the bankruptcy process they are at now) as sales for one way tickets out of the US skyrocket.


Here's what The Iconoclast Investor has to say about all this...

11 days after I was born, my father paid $155.35 to Salem Hospital, $150 to a Dr. Haywood for the delivery and $20 to Richardson Associates for anesthesia. General Electric, my father’s employer at the time, kicked in $100. I presume the bill was paid in full and that all parties were satisfied with the outcome.

When I was four years old, there was a return visit to Salem Hospital to treat a cut lip. For that my father paid $3.00.

Now fast-forward to June 5, 2008, just over one year ago. It was a quiet Thursday afternoon. My wife called me saying she had accidentally sliced her thumb with a utility knife and wondered whether she should go to the hospital to have it treated or just disinfect it and put a bandage on it.

I reasoned that on a quiet weekday afternoon, the hospital would be well staffed and we could be in and out fairly quickly, so off we went to Salem Hospital, where after filling out forms and answering questions–including, “Was it an accident?”–we spent a lot of time waiting in the so-called “Fast-Track” room. Eventually, a doctor showed up, and proceeded to apply Super-Glue (cyanoacrylate) to the wound, which was still seeping blood at a healthy rate. The whole site still looked a mess to me, but he wrapped the thumb in a big bandage and sent us on our way, saying the bandage could be removed in a few days.

Days later, we followed instructions, and were not entirely surprised to find, after removing the bandage, that the wound began bleeding again. Perhaps the surface had not been dry enough for the Super-Glue; perhaps the wound was too deep. I don’t know.

At that point, we had no appetite for a return visit to the hospital, which might entail not only a near-guaranteed wait but also a question about whether my wife had purposefully reopened the wound … so we disinfected and re-bandaged right at home. A few days later her thumb was fine.

And then, a month after the accident, the bill arrived. Now just for fun, make your own guess here. One emergency room, one doctor, a tube of Super Glue (apparently the exact same stuff you can buy at CVS but tailored for doctors), and basic bandaging materials. How much could it cost?

The answer is below.

A little farther …

A little farther …

The cost was $840.


Now digest this information, yes yes, keep going... then let's read this thread I started yesterday: The 47 Million People Don't Have Healthcare Lie
In short it reads:

Add the numbers up and you get 38 million. That leaves 9 million without coverage (although they really do have coverage since the federal government, along with the states, administer medicaid and charity care).

So the real number of uninsured is 8-10 million. There are 300 million Americans.


Anyone else tired of these lies and ponzi schemes cooked up by the government?




posted on Jun, 13 2009 @ 09:56 AM
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I read this last night.

But what really caught my eye was this line.


and would require employers to provide health benefits to workers


The reason this part caught my eye more than the rest of the Bloomberg article is that it reminded me of what a restaurant owner told be during the elections.

He said that if Obama kept his promise to require employers to provide health care, he would have to go out of business because he could not afford it.

He is not alone. Most small business cannot afford this.

This one tiny sentance will strike a death bell for small business.
It will have a unfavorable impact on the economy.
It will raise the cost of goods and services nationwide.

This at a time when the economy is suffering in part due to the high price of U.S. goods as compared to the low cost of other Nations goods. Entire industries have collapsed in the U.S. because of the low price of imported goods, so now legislation is being developed that will raise the price of goods even higher.


[edit on 6/13/09 by makeitso]



posted on Jun, 13 2009 @ 10:06 AM
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Our taxes... Our kid's taxes... our grandchildren's taxes... But it is the liberal way. Democrat party considers it a success when people are dependent on the govt for welfare, food stamps, healthcare, jobs, homes, where does it end? Thinking, breathing, reproducing?



posted on Jun, 13 2009 @ 10:24 AM
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Anybody remember this 'pledge'?



How many people still believe it?

[edit on 6/13/09 by Ferris.Bueller.II]



posted on Jun, 13 2009 @ 10:40 AM
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reply to post by makeitso
 


Not only that but it just promotes the hiring of illegal aliens. Lower cost no requirement to pay medicare on them and more Americans out of a job yay.

I think it's about time we move to Mexico. You'll know when it gets really bad when you see on the news, "Once again a group of Americans crossed the Mexican boarder and abducted a 4 year old demanding a ransom of 100 peso's from the Mexican family for her safe return."



posted on Jun, 13 2009 @ 10:49 AM
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Just think how much easier it is going to be, Using Tom Daschels' formula for government healthcare if you're over the age of 55 you don't have anything to worry about if you get sick.

You are just left to die because the cost/benefit ratio would put you out of the "productive' category.

-joy-



posted on Jun, 13 2009 @ 10:51 AM
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We are absolutely screwed my friends!!!


I'm only laughing because i'm beginning to lose it, don't mind me.

Seriously though, how can these idiots in DC expect people to be able to afford any of this? As stated earlier, small businesses will be a thing of the past even moreso than in the present economy. This administration just keeps doing EVERYTHING that is contrary to what would actually help us out of these rough times, it's mind-boggling and enough to make me consider a one-way ticket to Fiji.



posted on Jun, 13 2009 @ 11:29 AM
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well in finland we have a healthcare system what works or it nearly works perfect, well we dont pay that much, well we pay about 25 euros a years when its to the clinic but then if we go to the hospital its each time 25 euros and the docs there are the same what works in the clinics, i was my self in for surgery this week did get home on friday, and i havent yet seen the bill but i think its in total 120 euros and that will be paid by the government here, but still im feeling sorry that it really was 840 dollars u paid for that its a terrible amount indeed, i hope shes well now


Cheers



posted on Jun, 13 2009 @ 11:33 AM
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reply to post by Watchdog-Finland
 


How much do you pay in taxes? That is income, VAT(if it applies), sales, etc. Total tax burden.

________________

Well I can't say I'm surprised any independently thinking person knew this was coming. I can't believe people actually believed the lie, that 95% of people weren't going to get a tax increase.



posted on Jun, 13 2009 @ 11:56 AM
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Is it not great???

This is what people wanted... right?

Or are people now starting to realize there is no such thing as FREE? I keep remembering that reporter at the tax day teaparty asking that guy why he is so upset, "Its free money" she said.

Free, is a very expencive way to live.

Another part to the whole health care deal is that they are planning on taxing it. So, the employers would not only have to provide health insurance, they would have to pay ample taxes on it, AND those recieving health care benifits would be taxed on those benifits as well. So, plan on bringing home quite a bit less $$$ out of that paycheck.



posted on Jun, 13 2009 @ 12:20 PM
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reply to post by Watchdog-Finland
 


I bet doctors in Finland aren't forced to take out malpractice insurance.

Hmm, here's a thought.
If something goes wrong under Obama's healthcare plan, rather than sue the physician, can we sue Obama instead?



posted on Jun, 13 2009 @ 12:23 PM
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Come on people, Obama will not raise taxes...he even said he will not over and over.

He just has better math skills then the rest of us, that is all. He will only raise the taxes on the small persentage that makes over 250k per year, isn't that why you all voted for him?

He is going to make Roosevelt's New Deal seem like a weekend project while nationalizing much of the private sector AND proved health care for all with bailout money for anyone who might remotely need it. How or why would any of this generate the need for new taxes? He can even waste 100s of billions and still do all this without new taxes.

You say show me proof? Well he has already wasted 100s of billions and nationalized many companies and my taxes have not gone up one cent…see?...proof….



posted on Jun, 13 2009 @ 12:49 PM
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Originally posted by Watchdog-Finland
i havent yet seen the bill but i think its in total 120 euros and that will be paid by the government here, but still im feeling sorry that it really was 840 dollars u paid for that its a terrible amount indeed, i hope shes well now
Cheers


The reason why a minor visit to the doctors could cost 840 dollars is because insurance companies dictate the charge of everything. My kid went to the emergency room and saw the doctor for 5 mins to get some surgery glue on a cut on his chin and the bill was $1000 plus. Now I have three different insurances and so I paid nothing, but the $1000 bill that was paid by my insurance companies would be the same bill sent to my house if I had no insurance.

It is like this because there is no competition in our health care system. As a consumer I cannot shop around for a good doctor at a reasonable price, because health care prices are already nationalized and we just don’t know it. The only reason a cotton swab cost 20 bucks is because the insurance companies say it does….

If we privatized insurance and allowed for competitive pricing then we could shop for our own doctor based on their skill and cost.

There are many small clinics opening up around America that work totally outside the nationalized insurance umbrella. They deal only in cash and all cost are on a menu style for each procedure and not broken-down in cost for everything (like a cotton swab). Even though I have insurance I took one of my kids to one during a holiday and normal clinics were closed, so to prevent a emergency room visit (pink eye) I went to one of these clinics and I was seen very quickly and it cost me 15 bucks plus the cost of the eye drops.

All health care should be like this with the difference being insurance would have paid my 15 bucks, but once Obama REALLY nationalizes healthcare it will be even worse than it is today with no hope to actually having a reasonable system.



[edit on 13-6-2009 by Xtrozero]



posted on Jun, 13 2009 @ 12:54 PM
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Originally posted by jjkenobi
Our taxes... Our kid's taxes... our grandchildren's taxes... But it is the liberal way. Democrat party considers it a success when people are dependent on the govt for welfare, food stamps, healthcare, jobs, homes, where does it end? Thinking, breathing, reproducing?


Yeah taxes suck, but the alternative is debt....which has been the republican way for a long time. Taxes...you pay now, no interest. Debt....pay later with interest.

Government just needs to cut spending, maybe a 3rd party could run on that idea



posted on Jun, 13 2009 @ 12:57 PM
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Originally posted by ghaleon12

Originally posted by jjkenobi
Our taxes... Our kid's taxes... our grandchildren's taxes... But it is the liberal way. Democrat party considers it a success when people are dependent on the govt for welfare, food stamps, healthcare, jobs, homes, where does it end? Thinking, breathing, reproducing?


Yeah taxes suck, but the alternative is debt....which has been the republican way for a long time. Taxes...you pay now, no interest. Debt....pay later with interest.

Government just needs to cut spending, maybe a 3rd party could run on that idea


True, but the problem is that in Obama's first 100 days he spent more money than Bush did in 8 years even with the war and everything....

During Bush's year's a single billion was big news now we don't flinch unless it is 100 billion.

Should I spend 50% of my pay just to support this? I think not....

[edit on 13-6-2009 by Xtrozero]



posted on Jun, 13 2009 @ 01:27 PM
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Obama is going to tax the reminding taxable income of every America that still holds a job.

That is because the government has lost so much percentage of taxable income due to unemployment.

The stupidity of all this is that he is not addressing the biggest problem, and that is to find ways to provided creation of jobs to have more Americas working and paying taxes.

His health care is all wrong and done as usual for the wrong reasons, the big insurance companies are too big to fail so they are not going to lose anything but will cement a hold on the tax payer on the nation under Obamas bill.

As the nation keeps sinking more and more into a job market that is far from profitable for the American workers, forcing businesses into giving health care benefits to employees will render many of these small businesses unable to funtion as the economy right now is far from friendly to them.

Another big blunder and a joke that will be played at the expenses of what is left of the job providing businesses and the working class.



posted on Jun, 13 2009 @ 03:06 PM
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NOOOOOO!!!! Not a reduction in tax deductions available to the wealthy!


Seriously though, I have no problem with the government raising taxes on the wealthiest people in our society to provide healthcare for the most needy.



posted on Jun, 13 2009 @ 03:29 PM
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Originally posted by milesp
Seriously though, I have no problem with the government raising taxes on the wealthiest people in our society to provide healthcare for the most needy.

Yeah, a lot of people are lacking in morals these days and feel the same way. "Enslave them people, make them pay MY bills." This nation is not only financially bankrupt, but morally bankrupt too. In any case, it won't be much longer and there won't be any wealthy people left in this nation ... THEN who are ya'll gonna jack to pay your bill? Once the wealthy have a good reason to do so, they'll pack their bags and leave for freer pastures and then who ya gonna suckle?



posted on Jun, 13 2009 @ 03:30 PM
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Originally posted by milesp
I have no problem with the government raising taxes on the wealthiest people in our society to provide healthcare for the most needy.


A nanny state. Lovely.

What happens when those wealthiest people get sick and tired of working hard and earning money and investing - only to have to turn it over to people who haven't earned it?

ANSWER - THEY QUIT MAKING MONEY

Atlas will shrug.



posted on Jun, 13 2009 @ 03:32 PM
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reply to post by milesp
 


I just signed on with a literary agent today! Yipee for me. I guess I'm going to have to limit any advances, or sales on my book to under 250K a year.

I wouldn't want to become one of those FILTHY RICH people that make. . .

Oh, wait a minute...Obama's plan calls for 250K (rich people) if you're married.

It's 200K if you're single.

I suppose my wife could quit her job, go on unemployment. . .

And remember, it's 250K for assets, not money in the bank. So if you own a hotdog stand and the property it sits on is 250K or more, then you are now known as one of those filthy rich, evil, satanic, greedy people that can't have any of the money that you've worked hard all your life for. . . .

-pathetic-



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