Americans are becoming more concerned about the massive amount of government spending. Whether it’s a so-called economic stimulus, some type of bailout, or a healthcare proposal, even those on the left are starting to wonder how we are going to pay back the $12 trillion national debt we’ve already accumulated. With projections that the debt will double in the next 10 years, each family’s part is scheduled to rise from about $100,000 to $200,000. Even paying the interest on this amount of debt will be a long-term drag on the economy.<\/p>\n
As Americans are becoming more aware of this impending financial debacle, our left-leaning politicians are turning more to “lest costly” approaches to funding their largesse. The latest attempt is Pelosi’s proposal for a windfall profits tax on insurance companies to help finance a piece of the coming entitlement. The idea here is that insurance companies would simply pay the tax and go about their business while the government gets a bump in revenue. Nothing could be further from the truth.<\/p>\n
Business taxes are eventually passed along to the buyers. Investors rightfully demand a competitive return on their investments, so if Washington is going to take a larger chunk of a firm’s profits, it has no choice but to find money somewhere else. There are only two options here, raise prices or cut corners on its products or services. Either way the consumer pays the bill. Don’t be fooled\u2014a windfall profits tax is an indirect tax on consumption.<\/p>\n
There’s only one rational explanation for Pelosi’s proposal. She must assume that your hatred for corporate America\u2014in this case insurance companies\u2014will generate an emotional response of support. She also must assume that you’re ignorant of the economic reality that business taxes are simply passed down the line. She might claim that a particularly healthcare proposal will cost the government less because of accompanying hikes in business taxes, but we’ll pay for it either way. Whether it’s through higher taxes, economic stagnation due to more borrowing, inflation due to printing money, increases in our insurance premiums, or cuts in our insurance benefits, WE WILL PAY THE BILL IN THE END.<\/p>\n
I just wish someone on the left would make an honest proposal that defines how we will actually pay for this massive healthcare entitlement. No smoke and mirrors, no assumptions about cutting fraud, waste, and abuse, and no passing the buck to evil corporations who must in turn pass it along to us. The reason they don’t is quite obvious. Only far leftists and zero liability voters (the name Andrew Wilkow gives those who don’t pay taxes anyway) would support this type of takeover of the government system if took a rational look at costs and benefits. This coalition isn’t quite sufficient to sustain an Obama presidency. The fact that Pelosi and others are starting to emphasize business taxes and fees as part of the financing is evidence that we’re starting to win this battle. Now is not the time to quit fighting.<\/p>\n","protected":false},"excerpt":{"rendered":"
Americans are becoming more concerned about the massive amount of government spending. Whether it’s a so-called economic stimulus, some type of bailout, or a healthcare proposal, even those on the left are starting to wonder how we are going to pay back the $12 trillion national debt we’ve already accumulated. With projections that the debt […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[1],"tags":[],"_links":{"self":[{"href":"https:\/\/battle4liberty.com\/index.php?rest_route=\/wp\/v2\/posts\/146"}],"collection":[{"href":"https:\/\/battle4liberty.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/battle4liberty.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/battle4liberty.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/battle4liberty.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=146"}],"version-history":[{"count":0,"href":"https:\/\/battle4liberty.com\/index.php?rest_route=\/wp\/v2\/posts\/146\/revisions"}],"wp:attachment":[{"href":"https:\/\/battle4liberty.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=146"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/battle4liberty.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=146"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/battle4liberty.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=146"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}