Tuesday - February 06, 2007
Taxes
Tab - The Calgary Sun
First, we have Democrat John Edwards saying that if elected he will raise taxes to provide universal health care. What Mr. Edwards fails to tell you is that the biggest reason medical costs have been rising over the last few decades is due to sleazy trial lawyers taking on dubious cases of medical negligence, winning multi-million dollar lawsuits, of which they keep the lion’s share of the loot, and forcing malpractice insurance rates through the roof.
Mr. Edwards also fails to note that he was one of those lawyers who made a fortune filing medical lawsuits and used the money to win a Senate seat in North Carolina and push himself into national prominence in order to run for President so he could raise taxes to pay off more sleazy lawyers suing for malpractice. Now, do you understand ... ?
Edwards’ Health Care Plan Includes Taxes
WASHINGTON (YAHOO NEWS) - Mon Feb 5, 7:18 AM ET
Democratic presidential candidate John Edwards wants to provide health care coverage for the 47 million people who currently lack it and reduce the cost of coverage for middle-class families. The plan could cost up to $120 billion a year, and the candidate acknowledged it would require higher taxes.
“The bottom line is we’re asking everybody to share in the responsibility of making health care work in this country. Employers, those who are in the medical insurance business, employees, the American people — everyone will have to contribute in order to make this work,” the 2004 vice presidential nominee said Sunday on NBC’s “Meet the Press.”
“Yes, we’ll have to raise taxes. The only way you can pay for a health care plan that costs anywhere from $90 (billion) to $120 billion is there has to be a revenue source,” the former North Carolina senator said. Edwards said health care insurance premiums have risen 90 percent over the past decade.
- More ...
Second, the Democrats as a party want to raise taxes on the so-called “rich” to pay for their pie-in-the-sky welfare programs but they fail to note that over half of tax revenue comes from only 5% of taxpayers. I wonder what would happen if John Galt organized the richest 5% of income earners in the country and led them all out on strike. Would Atlas shrug?
Who Pays Almost All Federal Income Tax?
(NEWSMAX) - February 5, 2007
House Speaker Nancy Pelosi and fellow Democrats have talked about repealing President Bush’s tax cuts for upper-income Americans. But those who earn the most money – and invest the most in the economy – are already paying almost all federal personal income taxes, a recent report reveals.
Congress’ Joint Economic Committee disclosed that the richer half of the American population pays nearly 97 percent of income taxes. Most of that, 54 percent, is paid by those in the top 5 percent, Investor’s Business Daily (IBD) disclosed.
And the richest of the rich – just the top 1 percent – pay a hefty 34 percent of all personal income taxes collected by the federal government. Meanwhile, about 14 million lower-income Americans have been removed from the income tax rolls since 2000 due to the earned income tax credit and the per-child tax credit, IBD reports.
The next four years are going to be very disappointing if the Democrats have their way. They will buy patronage with your and my tax dollars and everyone will lose. The poor stay poor and dependent on the Democrats’ money machine and the middle class and upper class will take it on the neck in increased taxes in order for the poor to continue to ride the welfare gravy train.
Sooner or later it will all come crumbling down around our ears. Inflation will rise, as will unemployment. Government spending will once more get completely out of control (as opposed to slightly out of control nowadays). So sit back and watch the American economy grind to a halt. Now would be a good time to reorganize your portfolio to be less aggressive and invest in safe bonds or mutual funds. Buying gold might be a good decision too. We’re headed for rough times ...
Posted by The Skipper
on 02/06/2007 at 01:00 AM
Filed Under: • Economics • Politics •
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