Just When You Thought Pelosi-Care Couldn't Get Worse
The Wall Street Journal reports that the health bill will partially remove indexing for price inflation. As usual, the tax is geared against so-called "rich" citizens:
The tax would begin in 2011 on income above $500,000 for singles and $1 million for joint filers. Assuming a 4% annual inflation rate over the next decade, that $500,000 for an individual tax filer would hit families with the inflation-adjusted equivalent of an income of about $335,000 by 2020. After 20 years without indexing, the surcharge threshold would be roughly $250,000...
As we can see, due to the government's slow destruction of the monetary unit, entrepreneurs and savers are not only being ripped off by the printing press, they are being stealthily pushed into higher tax brackets for unreal gains in their income (thanks, Mr. Bernanke). The tax will also be applied to small business:
As for the business payroll penalty, it is imposed on a sliding scale beginning at a 2% rate for firms with payrolls of $500,000 and rising to 8% on firms with payrolls above $750,000. But those amounts are also not indexed for inflation, so again assuming a 4% average inflation rate in 10 years this range would hit payrolls between $335,000 and $510,000 in today's dollars. Note that in pitching this "pay or play" tax today, Democrats claim that most small businesses would be exempt. But because it isn't indexed, this tax will whack more and more businesses every year. The sales pitch is pure deception...
Even if you are for the further nationalization and cartelization of health care, please help us oppose this bill as it will undoubtedly trap more Middle-Americans in a ridiculously unreasonable tax situation that will damage their lives and ability to get by in the government's latest disaster: the economy.
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Showing comments 1—5 of 5
Posted 11/06/09 11:05 PM
BruceKoerber
Cedar Rapids, IA | http://propertyrightsarehumanrights.blogspot.com/
Friday, November 6, 2009
Is Congress Untrustworthy With Regards Health Care?
It is not wise to trust the untrustworthy. Give an inch to a disreputable one and you give up all of your rights.
Buried deep in the 'lie and oppress' health care bill is the stealthy extraction of property rights and human rights.
Do not sit idle while the parasites multiply and try to attach at more and more sites to extract more and more until the host completely succumbs to the economic terrorism of the unConstitutional coup.
Make sure that every elected representative - that you have the fortitude to contact - knows that you will hold them accountable. |
Posted 11/07/09 02:39 AM
Colten OMalley
Greenville, SC | It seems as if we cannot raise awareness fast enough to stop these terrorists we call Congress.
We need to double our efforts. Talk to our family members. Wake up the world before it's too late.
We are being hijacked with blind folds on. Except I am afraid they aren't planning on landing this plane safely. |
Posted 11/07/09 07:32 AM
Break your chains
Byron, GA | It will be just like the Income tax. "Only the richest of rich will ever have to pay"—yeah right. |
Posted 11/07/09 11:32 AM
galtgulch9
Southborough, MA | How come the numbers of members of the Campaign For Liberty are not growing faster than they are?
I had hoped that each of us would be motivated to find at least one other each day or each week to join with us in our endeavor to restore our country. IF each of us did then our numbers would be doubling every week or two! Instead only an additional one hundred or so are added each day. It is as if only one hundred
of us are doing the job!
|
Posted 11/16/09 12:14 PM
Rossco
Des Moines, IA | Our congressman in the 3rd district voted yes for the bill it looks like he will be in the unemployment line come 2012. |
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