Wednesday, September 16, 2009

The Baucus Heath Care Plan: Death By Taxes!

If this is a "bipartisan" plan, they we need two new parties:

... the Baucus plan: a slimmed down price-tag of $856 billion over 10 years. Earlier versions of the health care legislation had come in costing $1 trillion or more. But stay tuned for a close look at the fine print; Congressional budget-scoring is often as much art as science.

Another number to watch: 13 percent. That’s the share of family income that the Baucus plan envisions middle-class American families having to pay in health insurance premiums before co-payments, deductibles and other cost-sharing.

Wow. So a family of four making $100,000 (which is barely a living wage in New Jersey, by the way), which already loses about 35% of their income to federal taxes, social security, and state taxes, will now lose another 13% - BEFORE medical deductibles - based on on the Baucus plan. Not counting, of course, other taxes and fees that must be paid out of the net, like the extra $1K a month I need to come up with for the privilege of owning a three-bedroom home in New Jersey.

That brings our middle class family up to a taxation rate of 50% of their paychecks. Again, not counting additional taxes and fees (motor vehicles, etc.) that are paid out of the net. That puts us on par with Europe's taxation rate, incidentally. A continent that consistently has 10% unemployment and jumps for joy when they see an annual economic growth rate of over 1.5%. That's what the Baucus plan is aiming for. And boy, will it hit the mark.

And this is before a cap-and-trade bill - the next order of business in Obama's America - raises energy prices by another $100- or so a month for that same family.

The next time a Joe Wilson wants to stand up and challenge Barack Obama, let's try a different tact. Instead of accusing him of lying, just ask him, in a simple, clear, voice:

"How are we expected to survive under this plan"?

Not to grow - if the government is confiscating half of your money, the economy will never grow - but simply survive.

Would be enlightening to hear his answer...


Miranda said...

I look forward to your posts and you never fail to educate and to entertain. We've got to spread the word on this tax. That's insane.

The JerseyNut said...

Aw...thanks Miss Miranda!