Posted on 10/20/2010 4:48:36 AM PDT by geraldmcg
Hidden in ObamaCare, Section 8002, is a new payroll tax that will hit paychecks of American employees beginning 01/01/2011. It was placed in ObamaCare to make the legislation appear to cost almost $100 billion less than the true cost.
That’s according to Ron Greiner of StopObamaCare101.com,a national medical insurance expert.
The program is called the Community Living Assistance Services and Support Program (ironically dubbed: “CLASS Act”). Even the Chairman of the Senate Budget Committee (Senator Kent Conrad D-ND) called it, “A Ponzi Scheme of the first order, the kind of thing that Bernie Madoff would have been proud of.” (Charles Ponzi is pictured with his cigar.) Lee Benham, also from StopObamaCare101.com, says, “Every month a new piece of ObamaCare takes effect and the media is still reporting that it won’t start until 2014.”
The new taxes will be collected beginning Jan. 1, 20100 for future nursing home expenses but workers can receive no benefits for period of 5 years. That is a lot of money to be placed in a “Trust Fund” that politicians can raid to pay for other parts of ObamaCare and Medicaid expansion to let some other future politicians take the political hit for yet another bankrupt ‘trust’ fund.
Despite this, The American Cancer Society’s lobbying arm supports ObamaCare. Ron Greiner warns, “ObamaCare is Socialized Medicine so the American Cancer Society is lobbying the Federal Government for Socialized Medicine. These actions could reduce future contributions to the American Cancer Society when the public becomes aware of their Socialistic tricks.”
Lee Benham believes that the Free and Open Markets provide better solutions than Government programs. Lee says, “Every time the Government comes out with a program the Private Sector can produce better solutions for half the cost.” In the Private Sector nursing home insurance is called Long Term Care Insurance or LTC. Lee advises all workers to Opt-Out of the Government’s expensive LTC program and consider LTC insurance from a “real insurance company” so future tax payers are not responsible for your nursing home expenses in the future.
THE FOLLOWING ARTICLES MAY BE HELPFUL IN UNDERSTANDING THIS SUBJECT:
“The CLASS Act: Repeal Now, or Face Permanent Taxpayer Bailout Later” at:
http://www.heritage.org/research/reports/2010/07/the-class-act-repeal-now-or-face-permanent-taxpayer-bailout-later
http://www.stopobamacare101com/2010/09/22/state-sponsored-genocide/
Related articles available at: http://www.888webtoday.com as well as other conservative under-reported news.
ABOUT RON GREINER:
Ron enrolled America’s first tax-free Health Savings Account (HSA) in 1996 when they were called tax-free Medical Savings Accounts (MSA). Today tax-free HSAs are the centerpiece of Republican Health Care Reform. Ron also ran the largest agency in America for TIME Insurance, America’s oldest health insurance company. Prior to TIME Insurance, Ron was the state director of Iowa and Nebraska for the National Association of the Self Employed (NASE) the largest association of Self Employed people in America. Ron is also one of the Founders of StopObamaCare101.com
ABOUT LEE BENHAM:
Lee Benham was hired and trained by Ron Greiner. Lee also was one of the first to market tax-free MSAs in America. Today Lee is President of Benham & Associates, which offers the top commissions in America on Life Insurance, Long Term Care Insurance (LTC) and Annuities. Lee is also one of the Founders of StopObamaCare101.com
To quote Blazing Saddles; “Somebody’s got to go back and get a shitload of dimes.”
btt
Insurance experts, including the chief actuary for the Medicare program, who have analyzed the CLASS Act believe it is near certain to suffer from “adverse selection.” That is, because it is voluntary and enrollment is likely to be relatively expensive, only workers who already suffer from some conditions that make them high risks for disability will want to sign up. Consequently, premiums are likely to fall short of obligations, forcing administrators to either raise premiums even more or cut promised benefits. This will further discourage healthy workers from participating.
I keep hearing about the cost of the government of continuing the Bush tax cuts. When that statement is made, it presumes that the worker’s income is the government’s and they only let you keep a part of it. My solution is to reduce spending rather than tax more. In my view, there is no such thing as a cost to the government for a tax cut.
We must resist the tendency to base our tax structure on envy. One of the most chilling statements I have ever heard from a public official was when President Obama said, “...at some point, you’ve made enough.” Who said so? Isn’t the chance to succeed what drives capitalism? I believe that anyone who ascribes to that view is not thinking big enough. I never want the government to ever say, “You’ve made enough.”
Remember on Nov. 2, it is your chance to clean out those who want to limit us as a nation and replace them with public officials who will work to help us achieve our maximum.
Hows this for a hit for Jan.
The medical industry takeover bill has the following new taxes.
New payroll tax
“Value” of employer paid health insurance now to be treated as imputed income.
Cap gains will double
Dividends will go up by 2.5 times.
Child tax credit goes from $1000 to $500 per kid.
Because of the mandate that insurance companies have to insure everyone, their premiums will go up substantially, paid by us. Another hit to the paycheck.
Now add in the Bush income tax rates will ramp up across the board. Obama’s deficit reduction commission will probably recommend a VAT and barry will sign that quickly.
The congress STILL hasn’t passed the 2011 budget. Since they are hiding that, I would have to assume that there are a big pile of new taxes included in that as well.
The democrat party has launched a war on the United States of America.
BKMK
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