Ageless Wisdom Of The Founders
As if Americans aren’t already taxed enough, the healthcare reform bill—or Obamacare bill—being discussed by the Senate contains dozens of new taxes and creates 111 new bureaucracies.
Among the new taxes:
- a 40 percent excise tax on health coverage in excess of $8,500 (individuals)/$23,000 (families).
- an additional half percent Medicare (Hospital Insurance) tax on wages in excess of $200,000 ($250,000 for joint filers) beginning in 2013.
- an annual fee on manufacturers and importers of branded drugs beginning in 2010.
- an annual fee on manufacturers and importers of certain medical devices beginning in 2010.
- a reduction by half (to $500,000) the amount of an executive’s compensation that a health plan can deduct from its corporate income taxes beginning in 2013 and a 5 percent excise tax on cosmetic surgery and similar procedures beginning in 2010. (source: Openmarket.org)
Senate Democrats continue to try and draft a healthcare reform bill that will be palatable to Blue Dog Democrats yet still contain enough of a so-called public option to placate the party’s left-wing base. Both the Senate bill and the bill already passed by the House of Representatives contain a mandate requiring everyone to purchase health insurance or face fines and possible jail terms.
When asked where Congress gets the authority to force Americans to buy health insurance, Congressmen—if they answer the question at all—cite the general welfare clause of the Constitution.
As commander of the various militias during the Revolutionary War, General George Washington served his country without compensation, save for an allowance for certain expenses he incurred. He did this voluntarily, and gladly.
When his duties on the field of battle were over he would have been content to retire to his farm at Mt. Vernon, Va. But his countrymen called upon him to continue his service for eight more years.
On Thursday, April 30, 1789, Washington was sworn in as the nation’s first president. After taking the oath of office…