The Pelosi Plan: A Job-Killer!

William Jacobson at Legal Insurrection has peeked into the monstrosity that is the Pelosi health-care plan, and unveils the ignorance of its authors:

The bill defines which businesses are subject to the health care tax based upon the dollar amount of employee payroll. There even is a sliding scale right in the bill (section 501, at page 276) which tops out at 8% for businesses with $750,000 of annual payroll. Annual payroll is defined as the "aggregate wages" paid by the employer.

This provision creates incentives for businesses to keep down payroll. One way would be not to hire anyone whose compensation would fall under the definition of payroll under the bill. In other words, outsource whatever you can.

Jacobson states "They [C ongress & Barack Obama] truly do not understand how the private economy works". And this is correct. Many of these folks, from Max Baucus to Barney Frank, have been in Congress for decades, and know precious little of the outside world, or how it works. All they know that is there is money out there, and they have the power to take it, and people will usually allow them to if they demagogue enough.

And Barack Obama? He's an economic illiterate, plain and simple. Here's a guy who's never really worked for a living, not the way you and I understand it. He's written books (which he either went to Tahiti to finish due to the crushing pressure, or had ghostwritten), he's served on boards and handed out other people's money (for which HE was thanked, likely confusing him about whose money it really was), and finally made a career for himself as a politician, where any time he needed money, he just took it - via taxation - from the private sector.

And no doubt he believes - like Pelosi and posse of ill-bred loyalists - that the private sector is a tree that keeps on flowering cash; and that the tree is greedy if it wants to keep all of its growth, that it is government's right to pick and keep the fruit of that tree at will, and that the money tree will keep on growing cash regardless of whether it is "watered" or not.

You ever see a dead tree? It's an ugly death; they are decayed, rotted, bent, and blackened, with nary a green shoot to be found. It's the stuff of horror movies, and that's what our economy is going to look like in less than a decade if this monstrosity is actually passed...