Maximizing Your Money

Barack O's Modern Life ^ | August 4, 2009

[ClassicLiberal]

What is a billion dollars? Trillion+ dollar deficits, $787 billion package, gigantic omnibus… the arduous list perseveres. But hey - guess what? We are not stopping anytime soon. The dominating Democrat government thrusts on to pass the two mother-of-all bills: Cap and Trade and universal health care.

The price tag on Cap and Trade is uncalcuable. Taxing means of production: fuel, affects all aspects of life. According to the CBO in a Wall Street Journal article, “price hikes from a 15% cut in emissions would cost the average household in the bottom-income quintile about 3.3% of its after-tax income every year. That’s about $680, not including the costs of reduced employment and output. The three middle quintiles would see their paychecks cut between $880 and $1,500, or 2.9% to 2.7% of income. The rich would pay 1.7%.”

The article also notes the effect the tax will take in regions of the U.S. that count on the manufacturing of fossil-fuels “particularly coal, which generates most power in the Midwest, Southern and Plains states.” What happened to Detroit when the auto-industry crashed?

HEALTH CARE. The CBO has priced this at around $1 trillion with other figures going up to $1.5 trillion. Who cares though? We’re only going to tax the rich - it’s not like they carry the federal and state income tax burdens. By the way, we already have federal programs providing health care to those in need. Medicare: for those 65 years and above, and Medicaid: for low-income families and individuals.

These two programs cover large classes of people and are on verge of bankruptcy in the very near future. HOW COULD A NEW GOVERNMENT HEALTH CARE PROGRAM COVERING EVERYONE NOT GO BANKRUPT EARLIER? This thinking is absurd.