Red ink is all we will see for decades under this administration. This posting by Walter Williams is particularly critical today in light of the "health care" bill that is awaiting passage. The question is do most Americans realize what an obligation this will be in our old age and our children and their children. Any politician who makes promises should be looked at with a wary eye. They are usually lying. And Obama and this congress are no exception. Also as Mr. Williams points out there are 41% of Americans (121 million) who DO NOT PAY TAXES! These are Obama's prime constituencies. Now do you understand how high our taxes will rise?
President Obama and congressional supporters estimate that his health care plan will cost between $50 and $65 billion a year. Such cost estimates are lies whether they come from a Democratic president and Congress, or a Republican president and Congress... Let's check out their past dishonesty.
At its start, in 1966, Medicare cost $3 billion. The House Ways and Means Committee, along with President Johnson, estimated that Medicare would cost an inflation-adjusted $12 billion by 1990. In 1990, Medicare topped $107 billion. That's nine times Congress' prediction. Today's Medicare tab comes to $420 billion with no signs of leveling off. How much confidence can we have in any cost estimates by the White House or Congress?
Another part of the Medicare lie is found in Section 1801 of the 1965 Medicare Act that reads: "Nothing in this title shall be construed to authorize any federal officer or employee to exercise any supervision or control over the practice of medicine, or the manner in which medical services are provided, or over the selection, tenure, or compensation of any officer, or employee, or any institution, agency or person providing health care services." Ask your doctor or hospital whether this is true.
...Roughly 121 million Americans -- or 41 percent of the U.S. population -- are completely outside the federal income tax system. These people represent a natural constituency for big-spending politicians. Since they have no federal income tax obligation, what do they care about higher taxes or tax cuts?. (READ at CapMag)
1 comment:
That's a great article. I agree with Walter Williams. The American people are far too trusting of their elected officials.
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