Article Source: msnbc.com
from:msnbc.comObama touts benefits to Medicare from health law
Seeded on Sat Aug 7, 2010 11:37 PM EDT (msnbc.com)
— Filed under: health
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During the best time for growth in the US the taxes were among the highest. Corporations put most of their profits back into their company and everyone benefited. NOW however the Corporations profits have continue to rise while the workers’ wages are stagnant or gotten lower. The so called (LOL) free trade agreements along with the tax cuts for the wealthy have done NOTHING but cause trouble. The large Corporation got huge tax cuts and took their business overseas to get slave labor and produce inferior products.
Corporation profits have done nothing but grow and are at their highest since the 1960s but the wages are lower than they have been in years. In fact the money coming in from wages are lower than in any time since records have been kept.
Time to let the tax cuts expire and for any Corporation that gives a rat’s behind about THEIR country to stand up, take a chance and be a REAL American.
WE need real health care instead of just profits for the insurance companies, we NEED universal health care.
I am curious about your facts. Where did you get them? Im not being a smartazz....I really am curious on where you got them.
And exactly who will you work for.Without companies there is now need for a labor force.
Actually, when we allow the rich to get richer they drag us up with them. Look at the new middle class, we used to use the bus and now we get angry when we only have one car in the family. Be careful what you wish for.
babba, we used to use the bus, but now we have to have two cars, because they closed the bus line and that avenue of transportation is now closed. I live in a small town in Massachusetts that used to have train service (early 20th century). The lines are now a bike path. Without a labor force, we will have no consumers. Without consumers, we do not need the corporations. We have tried the so called "trickle down" theory for a couple of decades now. It hasn't worked. The rich had their wealth grow by 18% last year. How much did yours grow!
http://en.wikipedia.org/wiki/Great_American_streetcar_scandal
http://www.trainweb.org/mts/ctc/ctc06.html
Since the "rich" are the ones that run small businesses and hire people, and they also contribute a disproportionate of private sector spending on Gross Domestic Product (30%), a 10% tax increase will dampen the economy at a time when we desperately need jobs and spending.
Any unbiased economist will tell you that. But the Democratic strategy of "class warfare" to get votes from the "poor" (who pay no income taxes anyway) will trump common sense.
Anything to stay in power.
By the way. 75% of the Bush tax cuts went to the poor and middle class, not the "rich". After the tax cuts went into place, the "rich" paid an even larger portion of total income tax collections than before the cuts. It was the poor and middle clas that benefitted the most.
Really! I did not see any benefit on my check.
Obama can take my $250 and put it up his wife's large a** whenever she returns from her luxury vacation to Spain with her entourage. Let's throw these bums out in November and 2012 with such a beating that progressives and liberals will never be seen again except in liberal academia. Also, please remember to not renew your AARP membership. Remember these are the idiots that pushed for Obamacare and are just a shrill for Obama. We need to put them out of business permanently!
What is fascinating to me is how some people look at tax cuts as "lost revenue." How can the government lose money when they never had it to begin with? To say that the tax cuts equate to lost money is preposterous. That money (our salaries) belong to us - whatever money we make is not for the government to take as they please. The last I checked, we were not a communist society, and thus, our salaries and property belonged to us rather than the government.
Besides, how can one group of Americans throw another group under the bus? "Tax them, just don't tax me" is essentially the mantra. That's all well and good until Obama's shady numbers don't add up. Then, he'll keep on ratcheting back the cut-off for what is "wealthy." Eventually, anyone with a job will be "wealthy," and they will be taxed into oblivion to pay for those who choose not to work. We are on a slippery slope indeed, and Obama's minions will not realize it until it affects them individually. Never mind that progressive taxation is essentially a "sin tax" against success.
Americans need to quit villifying everyone who is a high income earner, and realize that the beauty of America is that we can all become wealthy with hard work and some luck. What is the point of punishing those who have achieved what we should all strive for - financial independence? If you take away the incentive to work hard, who will train for years to become the professionals of tomorrow? Especially when you have 40% federal income taxes, tax on your insurance policy, 40% capital gains taxes, and state and local taxes to look forward to? Why not just work less, and have the government take money away from someone else to fund your existence? Especially when you will not be taxed? The government's goal? To make the 40-hour a week shop worker live the same lifestyle as the 100-hour a week professional. Just ignore that 60-hour difference - Obama has told us that this is not important. But I disagree. I say that we are all created equal, it is just our decisions that make us less so.
What we as Americans should be concerned about is why the government needs to confiscate 40% of ANYONE'S salary, whether it is their own or someone else's. When the government "misplaces" 7.5 billion dollars in war funds, gives tax refunds to those who did not earn them, and give out benefits to illegal immigrants who never paid into the system, we need to seriously look at what is going on. They waste untold billions of dollars, and the best that Obama's supporters can come up with is to raise taxes on Americans? Really? What we need is a government that does not spend our money like a drunken sailor. Obama's people talk about the billion dollars a month being spent in Irag and Afganistan. What will become of that money when we are out of there? Will they decrease tax collections by a billion dollars a month? No, they will spend it on something else, all while raising taxes somewhere else.
At some point, everyone has to realize that it is futile to take blood from the right arm to give it to the left arm. Whether we like it or not, we are all in this together. Obama knows his history - divide and conquer. Make us fight with each other over income, race, education, whatever. All the while, he and Queen Michelle live high on our dime. And all the while, he laughs as he watches one group of Americans throw another group of Americans upon the sacrificial altar. United we stand, divided we fall. Well, we are certainly divided, and unless we can come up with a way to quit selling each other out, we had better get ready for our fall. A Depression? Race wars? A Civil War? I don't know, but we will soon find out, I'm afraid...
hey joe the party of no got us here, taxes are with us forever,it is what people demand good roads,safe bridges schools fire protection police for safty and protection and yes even the dreded government worker. after were dead we will both be equal no taxes any more.
Ok. This is a dead horse. "Spin it" as the dems would say, however you you like.
The party of "no" (cracks me up whenever I hear that) did not get us here.
Read and learn something. (If you are capable)
http://mises.org/daily/1597
The Republicans spent money on unpaid tax cuts and now don't want them to expire for the top 2%-rich will cause deficits of $700 million dollars, unpaid wars off the books, a medicare expansion that was not paid for and the worst economic collapse since the depression. They left the country with few options which kept another 8 million from losing their jobs. Right now in the Senate the Republicans and I think Ben Nelson who should be a Republican are fighting that. How can Republicans fight against loans for small business and tax credits?? Personally I am sick of all the negative attitudes and fighting in congress.
Just FYI, the Bush tax cuts for the middle class have a price tag of over $2 TRILLION.
Do you honestly think that this Congress is going to be able to resist the temptation of raising YOUR taxes too, when there is TRIPLE the amount of money to be gained and then spent on whatever the hell they want?
The Democrats could have killed the unfunded Medicare Part D expansion, they had enough votes in the Senate. They didn't, they voted for it. That pissed me off, too, but at both parties. They both failed to do the right thing on that issue, as well as NCLB and the war in Iraq.
Since Obama's stimulus package was signed, 4 million people lost their jobs. A trillion dollars was spent, with the promise that wouldn't happen.
Republicans aren't fighting against loans and tax credits for small business. They're fighting against funding those things via more deficit and debt, they're fighting to have funding taken from the $400 billion unspent stimulus money. The Democrats, who passed PAYGO during THIS session of Congress, refuse to pay for the legislation.
Are you, cherie, prepared at ALL to understand that there are two sides to every story, and the Democrats are not always right?
Funny how you spin letting the Bush tax cuts expire as "raising your taxes"
You should be more mindful of run on sentences too. Makes it sound like you are ranting.
It is raising your taxes. Unless of course the sky is green.
Prag - note the lack of intelligent response to the facts that you presented? This is because you are correct.
Excellent article.
The government is the cash cow. It always comes up with the money, somehow. LOL
Strictly speaking it is not raising taxes. It is restoring them to pre-Let the country down the toliet, trickle up policies of Bush.
As far as prags "facts" go........well let's just say they are true for spin.
Strictly speaking it is not raising taxes. It is restoring them to pre-
Well lets just raise your cost of living to reflect that not raising of taxes. Every time business is taxed more, it is passed on to the consumer. So really the person being taxed is the consumer. Just like every time they raise the minimum wage. The person working minimum gets a raise, those already making more than minimum in general do not get that raise. The cost of doing business goes up as well as the prices for the goods or services, causing those making more than minimum wage dollar to be worth less. The guy who was making minimum did not see an advancement in their lives, but those making more than minimum sure do see their dollar buying less.
Rick
And the repeal of civil rights wouldn't be the new start of slavery in this country it would only be restoring it. Get a clue, if you have to pay more than you have been paying, it is a tax increase. If you have to pay less it is a tax decrease or your unemployed making much lees than you were before, end of story.
Right on Joe! I'm pretty sure the Congress-critters start at 100% of our paychecks as their money to spend and anything less than that is a revenue loss. The sad thing is that time and time again history has proven tax cuts generate more revenue yet the critters always miss the critical follow up step of cutting spending. At the rate this Congress is spending there is no way we're going to avoid higher taxes on all but those who are already paying 0. The middle class is about to be in for a world of hurt brought to us by a promise of hope and change. Ain't that special.
SALT LAKE CITY — Unless Congress can figure out how to spend the same money twice, a report that says Medicare will be solvent until 2029 is flawed, said a former Utah governor who used to be the secretary of Health and Human Services.
“Democrats celebrated the 45th anniversary of Medicare becoming law by linking it to the healthcare reform President Obama signed into law earlier this year… Republicans pointed out the irony in tying Obama's healthcare bill to Medicare, given that the health reform bill made billions in cuts to the program to help pay for Obama's new system.”
Additionally, it has been noted that Feingold’s health care overhaul raises costs, opens the door to government rationing of health services, could cause millions of seniors to lose their coverage, and does nothing to address Medicare’s long-term solvency problems. see http://wispolitics.com/index.iml?Article=204978
You cut $500+BILLION from a program, and then BHO touts the benefits. "It's a commitment to America's seniors — that after working your whole life, you've earned the security of quality health care you can afford." Ha! Ha!
It is sort of like how the new Jobs Bill to give teacher union's money is being paid for by cutting money for lunch vouchers for poor kids in 2014. It is all voodoo.
would someone explain to me why we working schmucks should pay for teacher's pensions?? I want a really good answer. It's not only the teachers, it's the cops and firemen. Their UNION leaders were responsible for the investing of UNION pension funds and lost it. Why are we responsible for them??? Who's responsible for me??? My 401 tanked, my investments tanked, where is my payout??
Here's the CBO report confirming the double bookkeeping used.
http://www.cbo.gov/ftpdocs/108xx/doc10868/12-23-Trust_Fund_Accounting.pdf
Let's not forget the Dr. Fix, which is also related to the functionality of Medicare/caid. It was intentionally stripped out of the bill, and is being dealt with piecemeal now as "emergency" deficit spending.
The healthcare law is a house of cards of budgetary trickery. Even this pandering article points out, Obama's claims are ONLY true if all the cuts are actually made. It won't happen, and this will blow government deficit and debt spending into levels we can't even imagine. It has to, there's no other way to pay for it.
"Obama touts benefits to Medicare from health law"
Thus far, nearly everything our president has said about this new healthcare law has proven to be false so one has to think that this statement is also false.
Besides that, they can't cut Medicare by half a trillion dollars and expect it to be more solvent. It simply doesn't make any sense.
There were so many better ways to handle a healthcare overhaul but they chose this disgustedly stupid and complicated way that dramatically raises premiums and personal taxes, hurts Medicare recipients and helps virtually no one.
I, for one, am so disgusted with the Democratic Party that I will no longer support them nor will I ever vote for one of them again. They simply do not care about the people of this country no matter what they say. It's all about forcing the country to become socialist/communist through lies and sneaky tricks. One must think that their real intent is revolution.
Too bad the Republican Party stinks too.
It's from Obama and the Democrats so can bet while they say Medicare better off now somewhere after the election in Nov they will be back to the Medicare going broke by 20-- pick a year. Just like all the other numbers coming out of DC one day it is good and a few days later oh we got the numbers wrong it is worse then thought
If they cut medicare a half trillion dollars in benefits and fail to lower the taxes oe premiums paying for it then of course it would be solvent. In the health care reform law, it calls for 500 billion in "savings" from medicare as the lion share of the funding for the new law. Those savings or cuts were never specified as to their nature or their time line. Even now, we still don't know how they are achieving anything in the way of savings with Medicare. This transparent administration is awfully opaqe in everything but the lies they tell.
How he can say that medicare is on sound footing after raping $500 billion from the program is beyond me. What a liar and what a joke this man and his administration has become. On top of that his health care bill is going to go down in flames. The state of Virgina lawsuit was just the first shot across Obama's bow. The use of the commerce clause to justify what is completely unjustifiable forcing people to buy health care will be made unconstitutional by the Supreme Court and then the entire bill is done and good riddance. I am tired fo this administration and the Democrats who refuse to listen to the people. Pack your bags wingnut liberals your stay in Washington is done in November.
The really, really scary thing is that he put Donald Berwick as head of Medicare and Medicaid. Google that guy. All of his writings are indicative to "healthcare rationing" so we older people don't stand a chance. An older person needing some type of 'procedure'? Forget it. Not with this guy. Typical of Odummo with all of his marxist/socialist czars. Talk about an enemy. Odummo is our enemy within!
What I want to know is how does the 'Commerce Clause' even apply when health insurance cannot be bought across state lines? This is what the left is basing their claims of Constitutionality on. The health care debacle did not change this aspect of health insurance law.
They need to get their heads up out of the mud that they've stuck them into and really take a look at what is happening.
Can't wait to count the "I told you so" this pile of carp health bill gets in the coming months and years. I set up a spread sheet to keep track all I have to do is remember to use it. HaHaHa. I also can't wait to hear the crying when the taxes kick in to pay for this thing that can't be used for years. As always just my opinion.
Oh, let me see. I'll be paying taxes on my health benefits (company pays 20%), TaxSaver plan to be greatly modified (downward of course), I won't be able to afford my copays because my income will be lower, company will likely offer no raises or it'll be another pay cut, etc., etc. But somehow there's always plenty of money (borrowed or newly-printed) to make the unions happy.
Gotta remember to get any major surgeries done before I retire.
Wait it gets better yet Mary. The companies who'll be paying higher rates for your health insurance will tell you that is a raise in salary. The federal government will tax you on the higher amount of the received benefit, so you'l actually be taking a 30% decrease in pay when added to the higher employee share of the health premium you'll have to pay.
Medicare participants are already seeing the big benefits of the new system per our President. He sent em $250.00 to buy medicine. That should keep the geezers alive at least another month or so.
This President is unbelievable. He panders 24/7 for votes. What a great politician...unfortunately his world experiences and the people he has surrounded himself with are not business people; they are academics. They could teach you what to do in a class room but they cannot do it outside the school's walls.
The old saying, "Those that CAN - DO, those that CAN NOT - TEACH."
Yea - That $250.00 might buy some votes in BHO's hometown - Chicago, the only thing it is going to buy from most older Americans is - CONTEMPT.
Even in the UK, France, & Canada you can buy the extra insurance to cover what the Universal Health does not. But in the USA that is what BHO, Pelosi, & Reid - CUT. Ha! Ha!
My 87 year old parents never received their check and when the called they were told they weren't on the list go figure.
I am curious has any senior actually seen this $250 I know I haven't- would be interesting to see if anyone actually got it or the money just "disappeared " like the war money
So now we know how much it costs to buy the votes of the dead in Chicago. It only cost cigarettes to buy 'em off of the homeless in Milwaukee, Chicago's got some serious inflation going...
But just to avoid being totally off topic, I'll say this. I find it amazing how much of the spending Obama and our current congress have done is being financed with "future cuts". Anyone with two brain cells to rub together should realize by now that future cuts are the biggest joke our Congress critters play on us. They will ALWAYS find a way to not be able to implement the cuts when the time comes to do it and we will always be hit with higher taxes as a result and it will always be someone else's fault.
I've actually reached the conclusion that I don't care whether it's republicans or democrats who win the 2010 election cycle as long as we vote out the incumbents. It's time for some fresh blood instead if the establishment we've already put up with for far too long.
Obama is the biggest idiot of all time.
Maybe he should have read the bill. The new law REQUIRES Medicare to be cut by $500,000,000.00
I run a Medicare contracted company and the cuts have already started. Costly cases are either refused or the caregivers have to be paid peanuts to do the work. This bill mandates that the new socialist in charge of Medicare devise further cuts in costs (services) to help pay for the law. MORE CUTS!!!!
Seniors are being taken for a ride and they don't even know it.
LYING, FRACKING IDIOT!!! OBAMA
Oh yes we do but what to do?? I'm from OH where our State Attorney General, DEM, told me to bring suit would be 'frivilous' yet, he's suing on behalf of the UNION'S lost investments??? I take it you've read Donald Berwick's background?? Really scary guy.
Berwick is the poster child for Obama. He has all the answers given to him from a playbook for a game we don't play here in the USA. Much like Obama's omnipotent thought process: He knows, YOU dont. So your (the US citizen's) opinion means nothing. Yet this idiot has never run a business or held a real job. Unbelievable.
How anyone in the USA still supports this socialist trash is an insult to common sense or a pat on the back for stupidity.
Kagan who just was seated for the Supreme Court is also a throw-back liberal elitist from Harvard. She, Wm Ayers, Odummo, Larry Summers all were buddies there. Kagan was caught changing a document no less, and also was involved in excusing 2 of her lib professors (she was Dean of the Law School) who were indicted for plagerism. They're all liberal elitist leftists, along with Reid and Pelsoi, and have NO clue on what they're doing. Meanwhile, we're on the sinking ship thanks to them and the Dems.
AnnieRich
I watched every minute of confirmation hearings. Kagan knows her law. And she is not an elitist. And if she was guilty of what you charge, the Republicans would have been all over her. And your statement: "...liberal elitist leftists..." is showing your underwear in public. Spare us all please. The "sinking ship" started during Bush years. Both Bush presidents left us with an empty treasury. Hmmmm, "'coincidence, happenstance, or enemy action?'" Can you spell? Let's try libel. L-I-B-E-L. Now, let's try ignorance...R-E-P-U-B-...
There are no benefits to Medicare from Obamacare. This is a big lie from the Obama administration. If you believe this lie, then just wait and see. Five years from now, Medicare benefits will drastically be decreased and the types of health care available to the elderly will be strictly limited. Ask any doctor. Ask any health care administrator. Why does the media and the general public let Obama get away with his blatant lies? He is definitely the worst US president ever, destroying the economic and social fabric of our country. And still, there are those who will vote for him and support his candidates in the next election. How can these Americans be so downright stupid?
It's the MSM. They report NOTHING. The libs all make fun of Beck, Fox, Limbaugh but they're the ONLY ones that will tell you what's going on espcially Beck. I research everything he says and he's on-the-nut every time. I had researched the CCX years back before he reported on it and he was correct. But just try telling that to the leftie libs......
It's nice to know that your opinion is of course the only right one, and the rest of Americans are idiots. It's a bit hypocritical, don't you think. You're just the same on the other side of the spectrum. No one, not even you is all-knowing, so please share your comment but refrain from insulting your fellow Americans, or is it that anyone with an opinion different from yours isn't an American?
Annierich - You have done your research on Beck huh? Google Glenn Beck lies and you will find a laundry list of things either Glen Beck has lied about or stretched the truth on. As for Limbaugh, my God man are you crazy. No wonder you people are so misinformed and mad all the time, you listen to those 2 idiots. Do me a favor and don't listen to that crap for a week, you will probably feel better. You may even stop the payments on that fallout shelter.
imagine that....wonder which one of barrys minions wrote this??
It would be nice if the article actually gave specifics about what cuts in waste etc. have made Medicare stronger.
Instead we get sound bites,
It really isn't "America's committment" it was forced deductions that made the program necessary for seniors. One that has been skimmed over the entire length of the program for those who do no pay in to support it yet receive care.
There's not going to be any "quality". There will be rationing and death panels (and don't tell me they aren't death panels. They most certainly are. They are MANDATORY end-of-life bureaucrats that come in and do your planning for you as they see fit)!! Go research Donald Berwick. Scary guy.
You are so right. Corporations often skirt the tax system by offshoring or thru loopholes. For example oil companies pay little to no taxes due to hugh susidies we provide. Talk about picking winners and losers. One of the big ways to help is the move to a simpler tax code where all corporations pay their fair share especially the big corp. The smaller companies pay for what the big corp don't pay.
Any income over $250,000 is paying over 90% of all taxes collected and you want to tax them more? How about letting some of those taxes be used to create industries if it is not already to late? If that were to happen jobs would be created and the Government would reap the benefits of collecting new payroll taxes, SS, Medicare taxes, Ect. But no, lets tax the rich so they move out of America and support another country and supply their citizens with jobs. And for those on entitlement programs, kiss them good bye. I guess that would not a bad thing if certain ones were to be cut.
Because the corporations are as likely to do the same things. They'll offshore with or without taxes. It's a cost savings - they'll choose to pay less for overseas workers and then form a PAC to say that America is so business unfriendly. What would they do if they got their way, they'd likely pocket the money or invest in more overseas. Being nice to business does in no way guarantee job creation. Meanwhile all that PAC spending could've been used to hire an American. It's a bit synical, but I just think it's asinine to expect the corporations to behave nicely, they're in it for the money, not for the sake of the US employment rate. They'll do what it takes to make a better bottom line.
You are absolutely correct that there is no guarantee that manufacturing will not move anyway. However it is almost guaranteed if they keep getting taxed at a higher rate they will move. America has to find a way to impress them so they will stay and grow.
Here's an idea, instead of allowing the bush tax cuts to expire, rewrite the whole federal tax code. Eliminate all deductions and loopholes, everyone pays ( hypothetically mind you ) 10% of their income, maybe less. The net result would be greater revenue to the federal government with a lower bracket for 90% of the people. It would kill the tax lawyers and accountants because everyone would be able to understand their tax form then, but then it would save everyone else the expense of having their taxes prepared for them or for special software to figure everything out. All you would need is your w-2 and a calculator.
Why dont obumma give the worker a break . Medicare is deducted from my paycheck your paycheck everyones paycheck. We are bpaying for something that we will never be able to use.
In office for a year and a half, and the blaming and campaigning has never stopped. This guy simply doesn't know how to do anything else.
By the way, the 'savings' are dependent on actions that are extremely unlikely to happen. Figures don't lie, but liars figure.
I'm sure that didn't take to long.
It's good for you, trust me. Now when is my next vacation? I am tired from that trip to Chicago and need to waste more of your money with my family together this time. @!$%#, Michelle just dropped 400k on her own. ahahhahahahhahaha, suckers!!!
What would the MSM say if it was Bush doing all of this?
2 words, watered down, rationed!!!! get it fools?!
Barak Obama can say and do anything he wants, and while ever the MSM is going to spin it as being a good thing he is going to keep getting away with it. Losing 60 percent of the funds in medicaire is a good thing now, it's like losing 60 percent of your savings account at a bank and the bank telling you it's ok, you can still be their customer. Barak Obama tells one lie after another while the clueless MSM just looks on and cheers him along.
Reality is no longer reality, it is all perception created by a MSM that has become a participant for one political party. We have a President who is lecturing Americans about their wasteful lifestyles while he lives like a Roman Ceasar, running our national debt up 50 percent in 18 months is now ok, 18 million Americans out of work is now ok,drug gangs and illegals invading our southern border is ok.
The Democrats are the New American Marxist Party, with the elite insiders lording it over the workers they are in the process of controlling with all of these new laws and regulations.
All of this and the corrupt yellow Republican Party says nothing in the public forum, it's time for a third party that will represent hard working Americans and not the bottom of the pond insiders.
"As long as I am president, that's a commitment this country is going to keep," he said.
Unfortunately The damage will not start in full until 2014. The cuts in health care, taxes to support health care, ect. Maybe we should elect this liar again and see who he can blame then. I do not understand how this President can fall on his face and fail at so many things he has attempted and still some Americans can not seem to fault him.
Medicare cuts are already here.
Failing as you define it is part of his plan, he calls it a success. Obama said he intends to remake America, which means you have to get rid of what is there now.
Obama is an Easy-Street Marxist like the rest of his elite collective; with over 20 self professing Marxists in or having been in his inner circle of appointments, how can he be anything else.
The fact is we didn't need a bill in excess of 2,000 pages in length to "eliminate waste, fraud & abuse". Politicians have been promising to eliminate waste, fraud and abuse for as long as politicians have been in existence. So far - no success.
$250 for senior to buy medicine? Wow. Impressive. Unfortunately, government tinkering his caused fewer doctors to even accept Medicare or Medicaid since the reimbursement is inadequate under both so who is going to prescribe the medicine in the first instance?
The claim is that millions more Americans (and illegals, frankly) will be covered under ObamaCare. We already have a huge shortage of primary care physicians that is in fact increasing. Initially the CBO determined that by not counting the cost of the "Doc Fix" - which was disingenuous to begin with - the program would help reduce the deficit over the next decade. Almost immediately after passage the CBO produced numbers that show the program will increase the deficit.
This entire thing has simply been a huge "power grab" by government. And please don't bring up the wonderful program in MA. Were it not for huge federal subsidies it would be breaking that state financially. And don't tell me about the program in Tennessee or Hawaii either. Both were huge failures. All of these programs are based on fallacious economic assumptions and wishful thinking.
Blame the MSM they selected, elected, prop Barak Obama up, and destroy his opposition
Yep, the voters can't think for themselves? It's all some mediaman's fault. People voted for him thinking he'd do something good. whether he has or hasn't is of no consequence to this fact. It's escapism to say that Americans can't think for themselves and reading all these comments on this MSM's website, you'd think that the MS is Obama hating, so, which is it. Are Obama haters mainstream or are all Americans of a different thought process idiots? There certainly seems to be no other point of view here?
Subject: BAR STOOL ECONOMICS
Suppose that, every day, ten men go out for beer and the bill for all ten
comes to $100.
If they paid their bill the way we pay our taxes, it would go something like
this:
The first four men (the poorest) would pay nothing.
The fifth would pay $1.
The sixth would pay $3.
The seventh would pay $7.
The eighth would pay $12.
The ninth would pay $18.
The tenth man (the richest) would pay $59.
So, that's what they decided to do. The ten men drank in the bar every day
and seemed quite happy with the arrangement until, one day, the owner threw
them a curve.
"Since you are all such good customers," he said, "I'm going to reduce the
cost of your daily beer by $20."
Drinks for the ten now cost just $80.
The group still wanted to pay their bill the way we pay our taxes so the
first four men were unaffected. They would still drink for free. But what
about the other six men - the paying customers? How could they divide the
$20 windfall so that everyone would get his 'fair share'?
They realized that $20 divided by six is $3.33. But if they subtracted that
from everybody's share, then the fifth man and the sixth man would each end
up being paid to drink his beer. So, the bar owner suggested that it would
be fair to reduce each man's bill by roughly the same amount, and he
proceeded to work out the amounts each should pay!
And so:
The fifth man, like the first four, now paid nothing (100% savings). The
sixth now paid $2 instead of $3 (33%savings). The seventh now pay $5 instead
of $7 (28%savings). The eighth now paid $9 instead of $12 (25% savings). The
ninth now paid $14 instead of $18 (2 2% savings). The tenth now paid $49
instead of $59 (16% savings).
Each of the six was better off than before, and the first four continued to
drink for free. But once outside the restaurant, the men began to compare
their savings.
"I only got a dollar out of the $20," declared the sixth man, as he pointed
to the tenth man, "but he got $10!"
"Yeah, that's right." exclaimed the fifth man. "I only saved a dollar too.
It's unfair that he got ten times more than I!"
"That's true!" shouted the seventh man. "Why should he get $10 back when I
got only two? The wealthy get all the breaks!"
"Wait a minute." yelled the first four men in unison. "We didn't get
anything at all. The system exploits the poor!"
The nine men surrounded the tenth and beat him up.
The next night the tenth man didn't show up for drinks, so the nine sat down
and had beers without him. But when it came time to pay the bill, they
discovered something important. They didn't have enough money between all
of them for even half of the bill!
And that, boys and girls, journalists and college professors, is how our tax
system works. The people who pay the highest taxes get the most benefit
from a tax reduction. Tax them too much, attack them for being wealthy, and
they just may not show up anymore. In fact, they might start drinking
overseas where the atmosphere is somewhat friendlier.
David R. Kamerschen, Ph.D.
For those who understand, no explanation is needed.
For those who do not understand, no explanation is possible.
Excellent. I don't hear any of Obama's people responding. Oh, that's right - they can't, unless they are going to ask you if that was from FOX. Or that it is somehow Bush's fault. Pathetic.
How much better off was the rich man throughout the whole story though? While 4 of the 10 were walking to the bar, one had a hyundai and another a corolla, he who paid it all was likely sporting the Porsche, poor poor baby. Yes it does on the surface seem unfair, I'll admit to that, but ask the man working his butt off for very little (probably working for the rich man who manages profits by reducing "overhead" such as workers) how he feels about the poor soul whos picking up the tab, whereas most of the guys walk away with just a beer back to a hard life the tenth guy still (even after paying for most of the beer) goes home to a plush bed and swimming pool. And even then, the thought that such a rich man would bother with the affairs of the Less-than-thous or pick up the bar tab is ludicrous. If you didn't tax the higher earners, do you think they'd volunteer any single penny more, no, they would horde it. Poor rich man spending 59 dollars of his 50 million. If he were honorable he would do as in this barstool equation, but that's not the reality, hence the sliding tax system.
frustratedwithitall,
The 'Rich Man' was intelligent enough to know this:
1. That to get rich he had to have CUSTOMERS for his product or service, you know the other 9 of his drinking buddies.
2. That to stay rich he has to have workers to; sell, produce, and provide the services. And if he pays them well, these are also his CUSTOMERS........
These TWO principles are what make Henry Ford - RICH. Not his invention of the 'Production Line'.
Hey Joe, it was Sunday afternoon. Most people with lives aren't on the computer ranting about Obama. Only the middle aged white guys who live in their moms basement with the 24 hour loop of Glenn Beck on their TV are the ones commenting.
And there, in a nut shell, is the big difference between republicans and democrats. Republicans believe wealth is unlimited. Sure, the guy buying 90% of the beer has better stuff, but I think what can I do to improve my circumstances and get more stuff for myself. Dems seem to think wealth is a pie. The guy buying gets 90% of the pie and the other 9 have to share the 10% that is leftover. If the guy with the 90% would just give them more of his pie, they could be happier and the rich guy would have less stuff life would be fair. I think I'm glad I don't truly understand that mindset.
I don't see a reason to "Blame" Obama for anything except doing the right thing. The most comprehensive study of economic recoveries has just been released and the notion that Obama is anti-business is just crap. Here is an excerpt:
Would that all presidents were this anti-business: according to the St. Louis Federal Reserve, corporate profits hit $1.37 trillion in the first quarter—an all-time high. Businesses are sitting on about $2 trillion in cash reserves. Business spending jumped 20 percent last quarter, and is up by 13 percent against 2009. The Obama administration has dropped taxes for small businesses and big ones alike. Maybe the president could be anti-me for a while. I could use the money.
The reality is that America’s supposedly anti-business president has led an extremely pro-business recovery. The corporate community has recovered first, and best. The populist tone that conservative magazines and business groups decry is partly in reaction to this: as corporate America’s position is getting better and better, the recovery is looking shakier and shakier. Unemployment is high. Housing looks perilously close to a double dip. Job growth is weak. And corporate America, for all its profits, isn’t hiring. The 71,000 jobs the private sector added in July aren’t sufficient to keep up with population growth, much less cut into the ranks of the unemployed.
Pundits have expended a lot of energy on this puzzle, but there’s actually no puzzle at all. A look at the history of financial crises shows that our slow, halting recovery is right on schedule, and the business community’s caution is predictable.
This is thanks to a new book "This Time Is Different" that looks at every financial crisis over the last 800 years. I would say that everyone trying to extrapolate every action by this administration to make President Obama look bad needs to get a little history before spouting off.
This may be right but they will hold on to their profits and invest elsewhere because of Obama's flawed outlook on taxes and "spreading the wealth". Thus creating jobs in other lands while Americans try to figure where their next dollar may come from. Guess what? It will not be from the government anymore. It will not come from new industries. Why can't Americans see the picture being painted by this administration? Wise up Americans or risk becoming a third world country.
Voting Independent---I own a small business. The Community Organizer has done ABSOLUTELY NOTHING for my company! So, believe whatever you want, but I feel he is anti-business and will stop at nothing to destroy this country!
Steve841, you have no clue and no class.
Obama said no federal $$ for abortions= liar, at least 2 or 3 states already are.
Obama said you mcan keep your doctor= liar, he HAS said well maybe not.
Obama said over and over tthe mandate WASN"T a tax- liar, feds arguing in court it is.
Obama said no rationing of care= liar, The man he put in charge HAS said rationing will have to happen.
Obama gave seniors $250 for meds. WOW that covers what 2 scrips.
Obama says the British system works great= liar, that's why they now want to get rid of their system now because it doesn't work.
Health care is not a right.
Pardon me bursting your conservative fantasy bubble, but you really have no idea what you are talking about. There's no need to humor you in this regard. You are a parrot for a bunch of tea party screw ball nonsense you've heard and taken on as truth. You and those like you are almost the sole reason this country is in serious decline. And you don't even know it. Why? Because you are CLEARLY badly informed about your OWN country. I won't waste everyone's time taking you on point by point. Something about pearls before swine.
The Internet is your friend. Turn off the Fox channel and actually TRY to educate yourself. You should begin with just the possibility you are WRONG.
every bit of it is true. Straight out of their own mouths, Fox has nothing to do with this. Who are you, keith olbermann himself?
Also Obama claims the Government is going to save money. When was the last time they have saved money on ANYTHING? The answer, NEVER.
Only in DC can they come up with numbers to fit the agenda. When we are all back on horses I know where we can deposit the (HS) waste!