Health Care Tanning Tax Starting

Yay! It’s here! The first new tax for health care is finally here! It only took about 36 hours from the time Congress passed the health care bill before the first new tax was enacted. This one is a 10% tax on tanning beds.

But that’s not all, let me tell you what else you’ve won. You also get increased taxes on insurers (don’t worry, they’ll pass the cost on to you), increased taxes on drugmakers (oh, fear not, that cost will be passed on to your prescriptions, it won’t bother them), increased taxes on medical device companies (again, they’ll just pass the taxes along to you for your new pacemaker), and new taxes on Americans making more than $200,000 a year (you know, those people that own small businesses and provide over half of all private sector jobs, so they’ll just lower wages or cut employees, no big deal).

Isn’t this new health care program just great? I know I’m excited that I will no longer be able to do something as simple as decide to take high-deductable insurance. It’s hard to wait until the “Cadillac” policy tax goes into effect.  All this for the 47 million… huh? 30 million? really? I thought he said…  ok…  30 million new people…  Maybe that’s ObamaMath (like 57 states?).

Head over to John John Goodman’s Health Policy blog for some real facts. There could be 33 million lose medicare coverage alone thanks to the cuts.  Throw in higher health care costs, additional taxation, potential for rationing of care, increased IRS investigation, and you need a considerable amount of ObamaMath in to spin this into a positive thing!

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Posted under Healthcare

Written by admin on March 23, 2010

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The “Rich” are So Undertaxed

Great commentary over at the Washington Times by Michael Whalen.  He owns properties under Subchapter S, and thus falls into the “rich” category.  Using 2008 numbers, he lists out a handful of the taxes he pays on a 100-room (limited service) hotel in Iowa. It is amazing how fast it adds up. Hard data makes it clear how ignorant a lot of the public is when it comes to taxation.

I’m still finding it amazing how many people don’t even realize how much they are taxed on a normal basis. Most people think of taxes and they think of the ones that are out in the open (income tax and sales tax). A lot of people I talk to in daily life don’t remember that they pay property taxes (it is hidden in escrow on their mortgage or imbedded in their rent payments). Many don’t even take the time to look at their paycheck and see the obscene amount of money put into Social Security and Medicare (let alone the fact most don’t realize that their employer matches). It is nearly impossible to explain to people how taxes “trickle down” from the top (through raised product and service prices).

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Posted under Economy

Written by admin on March 19, 2010

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The Government Can

Another thing that speaks for itself. Enjoy!

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Posted under Economy

Written by admin on September 3, 2009

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Unintended Consequences of Social Engineering

According to The Nation, the U.S. Government is going to give $8 billion this year to the nation’s 10 largest paper companies. The reason is an odd bit of green legislation that gives a 50 cent a gallon tax credit for using fuel mixtures that are a combination of taxable fuels (such as diesel) with alternative fuels.

The process of making paper involves placing wood into a chemical mixture to separate out the cellulose fibers. The leftover material forms what is termed black liquor and it is a good fuel due to its large carbon content. Paper companies use black liquor to produce the heat and energy they need to manufacture paper.

They discovered that they can take advantage of this tax credit by simply adding diesel fuel to the mixture. It is totally unnecessary and far from green, but it allows them to make a  handsome profit off of the tax credit. The  attempt to engineer green behaviour has actually resulted in the exact opposite. It is amazing how every year our tax code continues to get more complex yet continues to get less and less effective.

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Posted under Climate

Written by admin on April 13, 2009

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Republicans to Offer Budget Alternative

The House Republicans gave an outline of proposals for an alternative budget plan today. Specifics on how much the budget would cost and what affect it would have on the deficit are due to be released next week. Among the proposals are spending cuts on everything except defense and lowering the top tax rate from 36% to 25%. A tax cut of that magnitude would free up money used by those in a position to hire workers and would likely be a huge shot in the arm to the economy.

Senate Republicans will be introducing a series of amendments to the budget next week in an attempt to cut spending from the budget. House Democrats are able to restrict the number of amendments that can be offered, so House Republicans are opting to present their complete budget alternative when it is finished.

The big question at this point is if the Democrats will be willing to listen to alternatives or if they will continue to press their agendas forward in a unilateral fashion.

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Posted under Economy

Written by admin on March 26, 2009

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