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The Right Prescription
Obamacare Starts Squeezing the Private Sector
Over the next six months Republicans will have to do much more than just show that Obamacare won’t work.
The news on healthcare reform this week is that right off the bat, the major corporations are discovering they will be losing stunning amounts to taxes as a result of Obamacare.
Caterpillar, the first to speak out, reported it will take a one-time write-down of $100 million in order to account for the elimination of a federal tax refund it has been receiving for providing drug benefits to its retired employees. In the following days, AT&T, Verizon, 3M, Deer & Co., and AK Steel Holdings announced they would take similar write downs. AT&T’s new tax bill will come to over $1 billion. The news is a body blow to major companies hoping to recover profitability and add jobs.
If all this sounds familiar, it should. It is exactly what Republicans predicted would happen if Obamacare became law. If existing employee benefits were taxed or made more expensive, the GOP argued, employers would either have to absorb the loss or start pushing their employees into whatever “government option” became available. When the Bush Administration adopted Medicare Part D in 2003, companies threatened to do just that, dropping their coverage and letting retirees buy into the federal program. The government offered a tax refund of about $650 per retiree in order to keep Part D costs down. Now the Obama Administration has decided to eliminate the tax refund in order to pay for the larger entitlements in the new bill.
All this, however, was too much for Henry Waxman, chairman of the House Energy and Commerce Committee. He demanded that CEOs from the major companies appear before him on April 21 to explain just what’s going on. “These assertions appear to conflict with independent analyses,” said the chairman, “which show that the new law will expand coverage and bring down costs.”
“When I use a word, it means exactly what I want it to mean, no more, no less,” says Humpty-Dumpty in Alice and Wonderland. “When we pass a law, it will do exactly what we want it to do,” say the Democrats in Congress. Never mind economics, never mind common sense.
This is typical of Washington — too many lawyers, too few people who understand business or energy or insurance or medicine or whatever the government has decided to regulate. The laws of a society are supposed to administer justice and make things run smoothly. Instead, the law in America has become a tool for forcing other people to do what you want. That’s why everybody wants to become a lawyer and nobody wants to become an engineer, scientist, doctor or — god forbid — an insurance company executive. Now that the results of Obamacare are emerging, the demonization of insurance companies that greased its passage will soon extend to American business as a whole.
Republicans are taking heart in this, and well they should — up to a point. The battle over the next six months will be to convince the public whether or not Obamacare is working as planned. CNN got the ball rolling the first day by discovering two people who will benefit from the new legislation:
Erica Mohamed, 31, of Houston, Texas, is separated, and has a 6-year-old son, Jeremiah, with a rare congenital heart disease called Tetralogy of Fallot. He has had three open-heart surgeries already, and will need to have another procedure to remove a stent in early adolescence. Mohamed’s job, through which she gets insurance, is not secure.…
Ira Bennett, 47 and self-employed without insurance, is HIV-positive, and had a heart attack in his early 40s. He estimates his income is about $500 a month from doing yard work and watching a friend’s house. Since he couldn’t pay for the $70,000 bill for his heart attack treatment, the costs fell to the state and federal government. Paying for his AIDS medications, costing around $2,000 a month, also falls to federal funding through the Ryan White Care Act.
Whether such heart-tuggers will resonate with the public is an open question. What is interesting to note is that in each of these instances, the unfortunate individuals did receive medical care — and very expensive care at that. Obamacare’s only apparent improvement will be to transfer these costs to commercial insurers.
The result is easy to predict — although you’d never convince Rep. Waxman of it. Insurance company costs will soar from taking on hordes of people with pre-existing conditions. They will try to raise premiums — at which point Rep. Waxman will proclaim, “Our analysis said premiums should go down, not up!” That will bring a call for federal price controls. This melodrama is already being played out in Massachusetts, where an identical reform has produced the highest insurance rates in the country. At some point here, the voice of Rep. Dennis Kucinich will begin to echo through the land: “Why not just turn the whole thing over to the federal government?”
That’s one scenario. The other is that the American public will not be fooled by any of this. They will recognize that it the evil insurance companies and businesses are not to blame, but that it is Congress that has created a flawed system. In a restrained and dignified manner, they will express their verdict by voting the Democrats out of office next November and replacing them with knowledgeable legislators — preferably non-lawyers and non-career-politicians — who can understand the situation.
THIS IS WHAT MOST of us would prefer. But I would add one caveat to all this. Take another look at those Caterpillar/AT&T/3M numbers. Caterpillar’s $100 million represents only one small portion of the health benefits the company is now conveying to its retired employees. Imagine the value of all the health benefits passing to all its employees, working and retired. It obviously exceeds $1 billion. And that’s just one company.
What the Caterpillar/AT&T/3M numbers reveal is that employee healthcare benefits have become a huge underground economy operating outside the conventional system. Remember, all these benefits are tax-free. Because the government doesn’t take a share, both employers and employees have come to prefer expanded health and retirement benefits to ordinary compensation. (How many people are holding jobs “just for the benefits”?) This distortion is what is ailing the healthcare economy.
Intelligent observers have noted this all along. Writing in the Wall Street Journal, Holman Jenkins concludes:
Letter to the Editor View all comments (81) | Leave a comment
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Bill Hussein O'Stalin| 3.30.10 @ 6:55AM
It won't take long for private health insurers to realize they can't compete under federal guidelines.
There is one provision that requires the private companies to spend 80% of the premiums collected on health care. Several states had limited that figure to 65% because if you spend more then that, you are out of business.
If this bill stands, private health care is finished, and in fact, good health care will be difficult to obtain.
What we will be left with is the efficiency of a DMV coupled with the compassion of an IRS.
thecap| 3.30.10 @ 2:50PM
Tim, " We ,Tea Party Rebels are ratcheting up The Rebellion incrementally.
The Tea Party Express is on it's way to D.C. On Tax Day , April 15th,2010.
Today ,The Tea Party Express is comin' through Provo and Salt Lake City Utah.
Rise Up !"
And do what?
If you take up arms, I will rejoice to see the streets run red with the blood of traitors (Article 3 of the Constitution).
Then, when you are finally crushed, you can expect that the Second Reconstruction will be nowhere near as lenient as the First.
Babydoc| 3.31.10 @ 9:39AM
The traitors to the Constitution are the scumbags that voted for this marxist health care plan. Accusing TEA Party members of treason (because they are assembling peaceably and working to educate people on the inherent evil of this crammed down law so we can vote out the progressives) is laughable hypocrisy. This law will be repealed.
toneyal| 4.1.10 @ 7:44PM
Obamas’ two goals:
1. A new pledge of allegiance:
I pledge allegiance to Obama,
Ruler of the United States of America,
and to his associates for whom he stands.
One nation, under Obama, indivisible,
With liberty and justice for Democrats.
2. A new “high 5” greeting; with right hand raised chant:
Obama Rules!
Diane1976| 4.1.10 @ 10:44PM
Funny how the richest country in the world can fight hugely expensive wars and spend billions bailing out banks and industries, but it supposedly can't afford some type of universal health care system such as every other developed country has. Funny, too, that people in those countries don't feel that health care robs them of their freedom. Any but the wealthiest Americans are obviously being duped. Too bad.
Into the Vortex| 4.2.10 @ 12:33AM
Those people in those countries - that so freely relinquish their individual freedoms in trade for the coddling by the State....... are not Americans. In fact, they seem more akin to sheep. In Germany, they have outlawed Scientology (a wacky cult that is the butt of jokes here, but tolerated.) In Italy, it is illegal to criticize the Pope. These things are heretical to Americans, regardless of views toward these institutions. If you don't believe that our history of individual freedom and initiative has not produced a unique, dynamic, completely FREE society, by all means, leave. Take your hope and change boy with you. I hear tell that some hamlet in Kenya is short one village idiot.
Pingback| 3.30.10 @ 7:24AM
Obamacare Starts Squeezing the Private Sector : USACTION NEWS links to this page. Here’s an excerpt:
JP| 3.30.10 @ 7:38AM
It appears Rep Waxman is unaware of the SEC requirements that publically traded companies must disclose immediatly any unforeseen expenses the moment those expenses are discovered. I would venture that $100 million in new tax liabilities qualifies for such disclosures.
What would Waxman have these firms do? Break the law?
Melvin| 3.30.10 @ 8:06AM
JP the Rule of Law doesn't exist anymore. Remember what Congressman Hastings said on CSPAN. "We just make up the rules as we go along”.
We now live in the age of the , "Rule of Man."
Warrior | 3.30.10 @ 10:15AM
Charlie Rangel has been breaking multiple laws for years. Look how long it took for anyone to take any actions on him and he still has his elected position. Alcee Hastings is an impeached judge with no integrity. William Jefferson was under indictment for years, Jack Murtha was on tape talking about bribes...
Waxman is a jackass of the highest order. He will attempt to discredit the companies and punish them in other areas unless they capitulate.
CBKC| 3.30.10 @ 3:57PM
Capitulate to what? Breaking the SEC rules? This guy is off the deep end stupid.
MTB| 3.30.10 @ 5:25PM
They're almost all corrupt, as evidenced by how the HC bill was passed into law in the first place. Throw some money at them, make some backroom deals and you have their vote. They don't give a rat's butt about America or the American people, as long as they get theirs. Vote the Dems Out! All of them! Each and every one of them!
George | 4.1.10 @ 2:53PM
I think it would be lovely to see each and every one of Waxman's "invitees" to each singulary say: with all due respect to you, Waxman, F&^% Y*& and then sit down. The Chamber of Congress would be effusively ebuliant in paying the Contempt of Congress fines.
John Monte| 3.30.10 @ 11:36AM
Rep Waxman is like all of teh other members of Congress an authority on nothing but claim on everything.
His lack of knowledge on the energy indutry during the climate bill legislation in the hosue is a joke. He bill is written around first generation renewable fuels along wuht solar and wind power.
We are in the third genersation of renewable fuels and both the manufacture of wind and solar equipment is now controlled by China
Howard| 3.30.10 @ 12:55PM
Waxman understands the SEC rules. This is grandstanding designed to get on the evening news shows. He will be depicted by the liberal mainstream media as "fighting for the little guy". And that stunt is one of several. Notice how the mainstream media is focused on the GOP strip club expenses , as well as the wacko guys in the Midwest. All designed to provide cover for the real abomination; Obamas' deficits and take over of private property.
Ken (Old Texican)| 3.30.10 @ 8:19AM
Folks,
Once again, we ought to scare ourselves to death with our brilliance.
A pretty good author of a column at AM Thinker today took our conversation of a few weeks ago and distilled out the gist of it.
Check this:
http://www.americanthinker.com.....oluti.html
Melvin| 3.30.10 @ 8:51AM
Good morning Ken,
In having the position that you do in your employment, and a comment made by George S. in American Thinker.
In your estimation, would it be feasible to conduct a massive national strike that would have any effect because the government isn't operating off hard solid tax receipts but credit receipts?
So therefore, the government could continue to function with no noticeable effect of a strike.
In short I guess what I am trying to say is, that the government could outlast us before the strike had any effect.
Ken (Old Texican)| 3.30.10 @ 12:04PM
Melvin,
I truly do think it would make a huge impact on the public at large.
I've spoken about it before. Truckers, doctors (not ER), deliverymen, pipeline operators, coal miners, refinery hands.....Oh yeah.
I have read that NYC begins to starve after three days interruption of food trucks.
................After the 9-11 attacks, most people around the country have not heard of the backbreaking efforts on behalf of the food truckers and deliverymen to keep the city fed and watered.
Combine that with the FOX news report of cash shortfalls in withholdings revenue...It could be a very impressive signal flare that we are working folks fed up.
Dan | 3.30.10 @ 9:06AM
Ken,
A strike might be a feel-good gesture for those of us who are mad as hell and not going to take it anymore, but it wouldn't slow down the gubmint (to borrow a Molly Ivins word) in the least. What might have greater implications is for everyone headed to DC on April 15 to simply go to the steps of the Capitol and sit down. Don't do anything, don't chant, don't hold signs, just sit - and, peacefully, block any and all access to the Capitol. If it turns violent, it will be Capitol Police and the Socialists in charge who instigate it. I have no doubt it will also attract a few left-wing loonies who attempt to infiltrate the group as a way to discredit it. The media will have a field day if this happens, but if it's done right (i.e. no loony infiltrators), the media can't paint the protestors with the same bigoted, crazy brush anymore.
And, oh, yeah, consider leaving your guns at home. The idea of Gandhi-like passive disobedience is far more attractive than blood-covered Capitol steps.
Melvin| 3.30.10 @ 9:29AM
Doggone it Dan, ya just took all the fun out of it. "No gun," I dunno.....how bout a squirt gun or maybe a Super Soaker?
After-all we can't go up D.C. totally naked, defensively speaking...that is.
Ken (Old Texican)| 3.30.10 @ 10:32AM
Dan,
A problem: Tom Clancy referred to it in a novel. One of our earliest laws was that NO ONE can prevent congress from assembling. If we have a "sit-down" there we better be darned sure there are clear steps for the critters to enter.
I shan't be there in DC. I shall be at our local tea-party get together.
Good luck with keeping "infiltrators" out of a bunch of folks like you expect. Take video cameras. Lots of 'em.
Pingback| 3.30.10 @ 9:04AM
Must Know Headlines 3.30.2010 — ExposeTheMedia.com links to this page. Here’s an excerpt:
Pingback| 3.30.10 @ 9:19AM
The American Spectator : Obamacare Starts Squeezing the Private Sector | StreetWisePu links to this page. Here’s an excerpt:
Tim| 3.30.10 @ 9:27AM
"The only alternative is that Republicans and Tea Party rebels seize control of the government next November and institute a healthcare reform that distributes health benefits in a fair and just manner while saving the private enterprise system. Otherwise, we may already be past the tipping point. "
My fear is that Repubs surge back into the Congress just as the second wave Obama induced recession hits us.
Petronius| 3.30.10 @ 11:00AM
T
It is not the purview of government at any level to distribute anything.
South Texan| 3.31.10 @ 12:43AM
I agree with you Petronius. Too many contributors and posters on this site don't understand what the true function of government should be. How will they regain freedom if they don't understand it? Rebublicans and Democrats have had the same agenda for years. Electing Rebublicans won't change anything.
Drew | 3.30.10 @ 10:05AM
Quick Quiz for American Spectator commenters:
How much out of pocket cash will the new Health Care reform bill cost Caterpillar (which is taking a $100 million writedown because of it) this year?
a) $100 million
b) $50 million
c) NEGATIVE $35 million
The answer is, of course, C. By taking a non-cash charge to reflect a change in the value of the "asset" represented by the double tax-free status of the subsidies they get from the Federal Government, they can deduct the entire $100 million against this quarter's corporate income taxes. And assuming they are paying in the 35% top corporate rate - $35 million is how much money they will save THIS YEAR. Money they can use to invest in new plants. Or pay executive bonues. Or pay out in dividends. Whatever.
The same is true with Deere; ATT; and all the rest of the corporations that are going to take this deduction. And, frankly, this couldn't come at a better time: New investment by these (succesful) companies will spur additional hiring, profits, and - yes - taxes - for years to come.
Warrior | 3.30.10 @ 10:18AM
And I thought Waxman was a jackass. Do you work for the CBO?
Ken (Old Texican)| 3.30.10 @ 10:35AM
Warrior,
No...he works for Mr. Soros.
Tim| 3.30.10 @ 11:09AM
From elsewhere on the site today:
"William F. Buckley would later say of such moments: "Cross a liberal on duty, and he becomes a man of hurtling irrationality."
Eric Cartman| 3.30.10 @ 10:51AM
Drew - Author of "The Idiot's Guide to Being an Idiot" and "How to be a Lefty Ahole Without Even Trying" What a dumb ass.
American| 3.30.10 @ 7:45PM
"The Idiot's Guide to Being an Idiot/I Left my Brain in San Francisco."
Otis, my man!| 3.30.10 @ 10:56AM
Drew,
I don't get it. Are you saying the loss of one deduction can be used to take another deduction?
'Splain please.
Drew| 3.30.10 @ 11:16AM
Quote: Are you saying the loss of one deduction can be used to take another deduction?
Yes - that's exactly what I'm saying. Because that is exactly what's happening.
The way the subsidy works is this: Back when they passed Medicare Part D, the Govt. wanted to encourage private employers to provide prescription drug coverage to their retirees. And so they offered to give a tax-free subsidy equal to 28% of the cost of doing so to companies. So, for example, if each retiree cost a company $3000 in drug benefits - then the Feds would give them (tax free) $840.
Now the rub was - not only did the company get $840 from the Feds - they also got to deduct the entire $3000 cost ($840 in subsidy, $2160 from the company) of that benefit.
Now, accounting for defined benefit pension benefits is truly a nightmare. A company pension plan that is 100% fully-funded one year, can suddenly become drastically underfunded the next - simply because the accountants decide that the investment return rates have changed a little. Or - in this case, because the future value of certain assets has declined. And a deline in Asset value, which may very well have zero impact whatsoever on a company's day-to-day cost of doing business - can be taken as a tax deduction.
What happened in Caterpillar's case, is that the value of all those expected future subsidies had declined - because, rather than not just getting the subsidy tax free - they actually got to deduct the "cost" of spending it.And now they aren't going to be able to do that any more.
Even conservative writers seem to be coming around to the conclusion that Medicare Part D was irresponsible on the part of the Bush administration. It is going add a trillion or more to the deficit because it was totally unfunded. (ie. There were no taxes raised to pay for the benefits it provided.) All that the new healthcare bill does is close a gaping tax loophole. But, owing to the peculiarities of GAAP accounting - what you gain with one hand, you lose with the other.
Otis, my man!| 3.30.10 @ 1:59PM
Drew,
Thanks for the explanation. You're right about Bush. He and the Congressional Republicans are just as culpable. Of course, that's why no conservatives were willing to stand behind them in the 2008 elections, thus allowing the Democrats to takeover.
We'll need to start over in November.
Eric Cartman| 3.30.10 @ 11:34AM
Otis, we have audio tape of Drew holding his daily after school meeting with some High School kids in his "office" (his Mom's basement). Ignore Drew's attempts to make passes at a couple of freshman . . . . boys! . . . . and you can see how he thinks:
(Begin Transmission)
Drew: Welcome, dudes! Dudetts! Okay, man. Peace y'all, Bush is evil. Right on man! Take a seat by me Kenny! . . . . over here! Oh, okay, dude. Got ya. Stan, my man! Sit here! Oh, okay,that's cool. Okay man, listen up!
Listen, man, today's lessen is about the corporations greedy rape of the people, okay? Pass me that bong - DON'T TIP IT, MAN! Phew - close one. So here it is. These corporate pigs are trying to, like, dis Obama and our great new health care, because, see, the government under Bush was giving the corporations money, man! And all Obama did was stop giving them money, see? It's that easy. The government was just giving them money to do NOTHING, man! That's how the right wing thinks, man. That corporations get welfare but everyone else should die!
See, this 100 million Caterpillar is "writing off" is just a double tax subsidy on money given to them for doing nothing, so they are, like, actually being paid for being paid. I know that's a big cookie to get your head around, man. But dig, it is the real deal. Okay, that's all today. Tomorrow it's gunna be "Truth about 9/11. man." Okay, so, if Stan and Kenny want to stay over and play Twister with me, my mom says I can have two friends stay - she's making Pizza Rolls! (End transmission)
As you can see, Otis, CAT, ATT, all these companies need to get rid of their accounting firms and finance guys and hire Drew. He knows the "Real deal, man"
William Tucker| 3.31.10 @ 4:47PM
Drew has a point here. I don't pretend to understand the intricacies of accounting, but it does not surprise me at all that declaring a $100 million reduction future assets will lead to $35 million more on hand today. Maybe this can be Rep. Waxman's line - that the increase in future taxes on corporations is actually giving them more money to invest. But the point of my article goes well beyond this. What is important to note is that billions and billions of dollars are already being transacted on medical care outside the taxable economy. It is this exemption - which only benefits about half the population - that makes healthcare so expensive and unobtainable for much of the other half. This is what Republicans should concentrate on remedying.
Vote 'Em All Out!| 3.30.10 @ 11:07AM
"Please tell Nancy Pelosi we're gonna do the Hokey Pokey. Put the right ones in, pull the left ones out." A hilarious video by Ray Stevens!
http://drewdurigan.com/radioge.....-friendly/
JP| 3.30.10 @ 11:09AM
Drew obviously cut and pasted his ideas from HuffPo, while missing the entire point of the subsidy and what it means to taxpayers and retirees.
martin j smith| 3.30.10 @ 11:22AM
With all this serious stuff going on why do we have to focus on issues about the sexual proclivities of the RNC ? If this is all they can come up with to do, fire them and get serious leaders --at least with regards the RNC
John Monte| 3.30.10 @ 11:44AM
For all American Spectator commenter
Below is another way to fight for our way of life; parts of the Health Care bill are good but parts are UNCONSTITUTIONAL are Mandates, taxes, penalties;
Separation of church and state.
I hope people read this and start to take action; GOD gave us body to occupy on earth.
God owns all the human bodies on earth; and God puts a mind and soul into a body to create a human with the ability to care for and abuse the body in a pack between GOD and a human.
We all share our bodies with God which he owns and includes the type of care and type of abuse we choose to care or abuse due to our religious beliefs and religious freedom of choices.
The government can not regulate or mandate our religious freedoms and beliefs.
The Constitution has clearly defined the separation of church and state,
TO DISREGARD THE SEPARATION OF CHURCH AND STATE IS A MOVE TOWARDS COMMUNISM.
Roe vs Wade the government can not regulate a woman's body.
The government can not mandate health care insurance because it is a religious freedom to choose the type and quality of health care in our relationship with God and his body.
Also since our democratic elected officials think that their body gave them is better than our and passes a bill that discriminates against God claiming he created some bodies better than others THEIR CADILLAC PLAN. UNCONSTITUTIONAL
Same thing with the health insurance industry after all these years they also claim GOD created some bodies better than others.
GOD gave mankind laws to follow; and a book; the Bible; as examples; to avoid false gods which today are false pleasures and abuses and in addition honor your parents which is the family, church, and its teachings; help others where possible and be willing to help oneself before accepting help from God or others; referred to as “GOD help those who help themselves” in addition to
Do not steal and do not covert thy neighbor’s wife and goods which means the continuous abuse in our welfare system and now health care system (sex; drugs; food; money, taxes; and funding)
COMMONLY CALLED REDISTRIBUTION OF WEALTH
Requires a defense of all lawful things that further the wealth and outward estate of ourselves and others.
Prohibits whatever deprives our neighbor, or ourselves, of lawfully gained wealth or outward estate.
Enjoins contentment with our own condition, and a charitable attitude toward our neighbor and all that is his, being thankful for his sake that he has whatever is beneficial to him, as we are for those things that benefit us.
Forbids discontent or envy, prohibits any grief over the betterment of our neighbor's estate, and all inordinate desires to obtain for ourselves, or scheming to wrest for our benefit, anything that is his.
CONTINUOUS ABUSE IS UNCONSTITUTIONAL
MANDATES, INCREASE TAXES; PENALTIES AND SPECIAL TAXES DEALS CONTAINED IN THE HEALTH CARE BILL ARE UNCONSTITUTIONAL
THE ABOVE IS THE ONLY FIGHT THE REPUBLICANS NEED TO CARRY OUT NOT THE WHOLE BILL
SPREAD THE WORD STOP BOTH THE COMMUNISM THE CAPITALISM OF GOD’S BODIES THAT GOD SHARES WITH US.
PENANCE IS ABSTINENCE
PS SOME OF OUR WELFARE PROGRAMS MY BE UNCONSTITUTIONAL.
ENCOURAGE CHILDREN/YOUNG WOMEN TO HAVE BABIES OUT OF WEDLOCK AND INFECTED WITH HIV/AIDS AND DRUG ADDITIONS AND PAY FOR IT THROUGH MEDICAID IS AGAINST GOD’S TEACHINGS AND FORCE OTHERS TO PAY FOR IT; DO NOT COVERT OUR NEIGHBOR’S GOODS OR THE REDISTRIBUTION OF WEALTH (STATE AND PERSONAL)
Bruce | 3.30.10 @ 5:45PM
Ya know - if you expect to be taken seriously - get your facts straight. Precisely WHERE in the Constitution does it mention "The Constitution has clearly defined the separation of church and state. "
Clue - it doesn't. Anywhere. The ONLY mention of religion in the Constitution is in the First Amendment, specifically the "Establishment Clause" which states - "Congress shall make no law respecting an establishment of religion ... or prohibiting the free exercise thereof"
Are we clear on that?
roger | 3.30.10 @ 12:24PM
ObamaCare got you sick? This podcast will make you feel better! www.cashbeechcroft.podomatic.com
From a rising star in the REAL conservative movement.
Tim*| 3.30.10 @ 12:51PM
We ,Tea Party Rebels are ratcheting up The Rebellion incrementally.
The Tea Party Express is on it's way to D.C. On Tax Day , April 15th,2010.
Today ,The Tea Party Express is comin' through Provo and Salt Lake City Utah.
Rise Up !
Oldefarte| 3.30.10 @ 2:07PM
Accurate and true, but beyond this, if American taxpayer-voters do not take back their country in November, it will become more of a tipping point because of economic/financial bankruptcy. This administration has exploded governmental expenses/costs to a point of bein unsustainable [a far worse situation than Greece or other Europeon countries presently]. The last three US Treasury bond sales have been flops, and not generating sufficient sales of same; and without the income from the sale of same, interest rates will skyrocket and the government will be forced to substantially raise taxes to cover its deficit/debt. This country is now dying, folks, and not simply from a health insurance standpoint. WAKE UP AMERICA!!!!
Northern Rebel| 3.30.10 @ 2:48PM
They have the banking system. they control student loans, and thus, who will get them. They have stolen our healthcare system. Card check is coming.
They have the automobile industry. Why? they don't expect to turn a profit. What is their motive?
To control transportation?
They have already discussed nationalizing the tax structure, to make Texas, and California equal, in order to prevent citizens from fleeing to safe harbor. Their "Blue Ribbon Commission" is certain to suggest a V.A.T. type of system to pay for all of the above.
Once they get amnesty, and the borders open, to re-elect "president" Anti-Christ, what could possibly be next?
The 22nd amendment is the next target. They have installed as many socialists in State Secretary positions, in as many States as possible.
With the help of whatever entity ACORN has morphed into, it is entirely conceivable that they could get enough states to make Obama Bin Laden dictator for life, and he is young!
PARANOID, you say?
Who thought this young wippersnapper would get what he's already gotten?
When they are able, if they aren't already, able to track your voting record, and party affiliation, they can deny funds for college, or health care, or jobs, to those who don't bow to their perverted philosophy. It will be their version of the number of the beast!
When America becomes corrupted, will we be swimming to get to Cuba?
Flee| 3.30.10 @ 3:51PM
The line about pre-paid health care is correct. There is no insurance element to Obama's vision of health care. In fact, he states HSA and high deductible plans are not insurance at all. This shows how little he knows of the concept of insurance. You buy a new car and the dealer offers a service contract. This is not insurance but a way for you to pay for expected services in the future if you want to maintain the car to manufacturer specs. They can't sell you insurance and wouldn't want the risk. They sell the contract because their accountants and actuaries tell them they will make money on the deal. Insurance on the car is bought to protect against accidents. If you are fortunate you will never file a claim for the duration of ownership for the tradeoff that you may be helped when you have an accident. I do hope we can install some govt leaders that recognize the difference between the two purchases and realize that insurance is not a right but something we choose voluntarily. This so-called reform is guaranteed to raise the ultimate costs of getting health care and of purchasing insurance.
Jeff Perren | 3.30.10 @ 4:18PM
"Whether such heart-tuggers will resonate with the public is an open question."
I long for the day when Republican politicians will have the courage to respond "Paul's heart condition, however tragic and deserving of sympathy, is not Peter's problem. It's wrong to rob Peter to pay Paul, regardless."
That would represent progress.
Lazy Jack | 3.30.10 @ 5:54PM
Last week, as major companies began announcing the preliminary estimated costs of just one portion of the national healthcare indenture, Representative Henry Waxman dressed up in high dudgeon and played the part of Captain Louis Renault from Casablanca. He was “shocked” to find gambling going on in this establishment.
Foul, he cried, and loudly. How can Caterpillar, AT&T, Prudential, Verizon, 3M, Deer & Co., Valero Energy, Deere and Co., and AK Steel Holdings be taking gigantic expense reserves when the legislation was designed to reduce cost, improve care, increase access, and bring about world peace? It must, he said, be a conspiracy, and it is time again for the Democrat collective to sharpen its pitchforks. As if he did not know this was going to happen all along? Among its myriad of do-dads and ge-gaws, the bill ends the subsidy created in 2003 to keep companies from kicking retirees out of company prescription drug plans and onto the newly minted Bush Medicare drug entitlement. Since this tax relief officially ended with a stroke of Obama’s pen, accounting rules require such material events to be recorded in the period in which they occur whenever they affect a company. Foul, he cried again, there were not adverse consequences to see here.
You, dear reader, were asked to suspend disbelief because the press had done so an eternity ago. In the months leading up to the futile bi-partisan vote against the so-called healthcare bill, editorial pages across the country, including the lady on life support in Lancaster, Pennsylvania, beat the drum in support of this entitlement. They argued with conviction that other countries do it, so the U.S. should. As terrible as that fourth grade reasoning was, it gets worse. Absent was any critical thinking about the constitutionality of the mandate to enter into a private contract. Absent was any critical thinking about the true cost of the bill. Gone was any analysis of the real number of uninsured. So shallow was the reasoning of the editorial army of the fourth estate they actually believed that the CBO score showing deficit reduction was true. Or worse, did not care.
In their world, there were no adverse consequences to government intervention. Their convenient temporary belief in the infallibility of the CBO is so fervent, for example, that they are pathologically ignoring the fact that the CBO predicted last year that the Social Security had until 2017 before it became a deficit spender. Yet, here we are one year later and Social Security will be paying out more than it takes in; this year. This is the same CBO that says the Healthcare bill will reduce the deficit over the next 10 years. Mathematical Illiteracy does not even begin to define this problem, and I am not just talking about the hapless CBO.
So, in celebration of King Henry’s practiced revelation that the bill has consequences in the real world, we offer that the roughly $1.7 billion dollars only means 28,378 private sector jobs lost for one year. This assumes the average cost of $59,909 per private employee based on statistics from the Bureau of Economic Analysis. But, do not worry, we will replace those jobs with federal government jobs at a mere $119,982 per worker, or $3.4 billion per year. That is one heck of a multiplier. It will only take 257,966 private sector workers paying a 22% net federal tax rate to support those government jobs.
So King Henry is directing his rage at the private companies that must comply with standard accounting rules (or risk jail time and lawsuits, by the way). He is demanding hearings on April 21st because these evil business people are the first to demonstrate the real world affects of this terrible legislation. I do not know which is worse; That King Henry did not know what was in the bill, or that he did and now pretends to know he did not. To paraphrase the famous Supreme Court Justice Potter Stewart: I shall not today attempt further to define socialism, but I know it when I see it. Mr. Waxman’s indignation is great theater, and as usual it is we who are about to pay the price.
Lazy Jack
www.thanksforthelaughs.wordpress.com
http://thanksforthelaughs.word.....9/lullaby/
Pete| 3.30.10 @ 6:29PM
"Or worse, did not care. "
Ding ding ding ding ding!
Pingback| 3.30.10 @ 7:42PM
| UNCOVERAGE.net links to this page. Here’s an excerpt:
Ken (Old Texican)| 3.30.10 @ 7:43PM
from Melvin's question above
Ken (Old Texican)| 3.30.10 @ 12:04PM
Melvin,
I truly do think it would make a huge impact on the public at large.
I've spoken about it before. Truckers, doctors (not ER), deliverymen, pipeline operators, coal miners, refinery hands.....Oh yeah.
I have read that NYC begins to starve after three days interruption of food trucks.
................After the 9-11 attacks, most people around the country have not heard of the backbreaking efforts on behalf of the food truckers and deliverymen to keep the city fed and watered.
Combine that with the FOX news report of cash shortfalls in withholdings revenue...It could be a very impressive signal flare that we are working folks fed up.
Pingback| 3.30.10 @ 7:44PM
Obamacare Already Costing Companies Millions… « Truth, Lies and In Between links to this page. Here’s an excerpt:
The Clintidote| 3.30.10 @ 11:05PM
As P.J. O'Rourke predicted years ago, the Normal-American Community will be hunting democRats with dogs.
Let's get on with it posthaste.
Margie| 4.1.10 @ 12:28AM
Wish I would've thought of that to write in those boxes on our census form. Normal-American!
CL| 3.31.10 @ 12:52AM
" I think the American people are fundamentally liberty-loving people. And what's going on in this country is really anti-liberty. The President, you know, they just put Bernie Madoff away for life; the President's policies are Bernie Madoff times a thousand. He is taking a wrecking ball to this society. The American people love this country. They love its institutions; they revere the Constitution and the Declaration of Independence. What the President is peddling is something utterly foreign. He's dragging us into what de Toqueville called a 'soft tyranny.' And really I don't know what the limits are on the power of the presidency anymore. They used to call Bush an imperial president, which was ridiculous, this is a real, live imperial president, who wants to dictate light bulbs to what medicines you get, to student loans and credit card interest rates. He doesn't have the constitutional authority to be doing all these things.
[...]
"He lied. Matter of fact he's taken his page right out of Saul Alinsky's rules for radicals. Saul Alinsky essentially said, look, you gotta sound like you're for the middle class. You gotta sound like you're from the middle class. And then you destroy the middle class"
Mark Levin
Margie| 3.31.10 @ 1:38PM
Mark Levin for President!
Mimi| 3.31.10 @ 6:11PM
HI, MARGIE, On the president thing .... You mean THE GREAT ONE? THE LION OF LIBERTY? Picture in your mind the debates: The lion with 'piddle dee dee"!
Margie| 4.1.10 @ 12:26AM
Yes, that's who I mean. He is a lot like Ronald Reagan, I think he has his heart for sure, and his mind is as sharp as a razor! I love him. What a wonderful picture and a most encouraging thought!
Cybercorrespondent | 3.31.10 @ 4:27PM
Two Points of View
Conservative
In 2009, the United States printed $2 trillion and guaranteed it with IOUs. As the Obama administration continues to print more money, the liberals try to make everyone believe that their actions will get us out of debt and recession. By printing more money, their philosophy is to hand out free money as it was easy to come by and as a result make people believe that getting it for free is better than working. Eventually, more jobs will be lost, people will stop looking for work, and when there are more takers than givers, the capitalist system will totally collapse.
Liberal
While the workers who work hard are getting stressed out, those who collect unemployment can lay back and enjoy their free time. With the healthcare bill signed into law, you now can stay home and enjoy hobbies like art. If you are under 26, you can stay under your parent’s insurants with nothing to worry about. After the cap and trade bill is passed, things will get even better. The darn capitalists will be forced to lay off more people and you’ll have more friends to hang around with. And if you do decided that you want to work, the government is hiring 16,000 new IRS agents to enforce the President's mandate on the American people. Those will be jobs created. No need to worry about collage. We’ll make those who work pay for it.
Capitalists are nothing but whiners. After the healthcare bill was passed, AT&T started whining that they already lost $1 billion because of the passage, two of the nation’s largest employers, John Deer and Caterpillar, claim it will cost them billions and to top it off, Towers Watson whined to the Wall Street Journal that the total hit this year for them will reach nearly $14 billion. What are they going to do? Lay off more people? Don’t they know that we have printing presses rolling and will never run out of unemployment money? Henry Waxman already called in the CEO’s of these companies to Washington and will put them in their place for whining about it.
Another organization that needs a lesson thought is the Heritage Foundation. How dare they say that according to their research, “President Obama's health approach is financially unsustainable and will ultimately lead to health care rationing, a lower quality of care and a greater degree of dependence on government?” Government dependency, isn’t that what we want? No need to worry. Senators Lindsey Graham and Joseph Lieberman outlined U.S. climate-change legislation that would have power companies buy and sell pollution rights in a carbon market and force oil and energy companies pay fixed fees for emissions. Our senators and congressman are the finest and will make sure that after the capitalist system collapses, we the new communist party will get total control of the private sector.
How can we loose? With gas prices at $7.00 a gallon and outrageous energy bills, everybody will be forced to ask the government for a hand out. As a Democratic Congressman, Alcee Hastings, had articulated so perfectly, "There ain't no rules here, we're trying to accomplish something. . . .All this talk about rules. . . .When the deal goes down . . . we make 'em up as we go along." Translation, “The road for those who know how to milk the system will be paved with gold. A better quote to summarize this point of view comes from a comment to Cybercorrespondent’s article entitled, “Unite Against Tyranny or Relinquish Liberty.” Quote, “I think we should Unite FOR Tyranny. It will make your dreams come true! Or kill you. One of the two.”
Cybercorrespondent
http://cybercorrespondent.wordpress.com
Pingback| 4.2.10 @ 10:31AM
Most Tweeted Articles by Insurance Experts links to this page. Here’s an excerpt:
Pingback| 4.3.10 @ 8:25AM
ObamaBush ruining the economy: Saturday morning link roundup « The Canadian Independe links to this page. Here’s an excerpt: