The Depression Is Coming! The Depression Is Coming!
It really is astonishing. With the economy flailing and the trends in job losses disappointing even the whiz kids of the Obama administration, despite its having whipped out the “stimulus” credit card, with “cap and trade” energy policy seeking to raise the cost of doing business (and of simply living), the Democrats are hitting the accelerator pedal on their hybrid healthcare suicide car:
The liberal-leaning plan lacked figures on total costs, but a House Democratic aide said the total bill would add up to about $1.5 trillion over 10 years. The aide spoke on condition of anonymity to discuss the private calculations. Most of the bill’s costs come in the last five years after the 2012 presidential election.
The legislation calls for a 5.4 percent tax increase on individuals making more than $1 million a year, with a gradual tax beginning at $280,000 for individuals. Employers who don’t provide coverage would be hit with a penalty equal to 8 percent of workers’ wages with an exemption for small businesses. Individuals who decline an offer of affordable coverage would pay 2.5 percent of their incomes as a penalty, up to the average cost of a health insurance plan.
Pay down. Employment down. Prices up.
Note that admission that the legislation’s cost structure attempts to move the bill past the next presidential election. Consider also that the bulk of the stimulus money is scheduled for dispersal next year — an election year. One doesn’t have to be partisan to wonder whether economic hardship and civic anxiety are being tolerated in the service of a planned political script. A few eggs must be broken, after all, in order for the Left to make the governmental omelet that the country doesn’t yet know it needs.