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Tuesday, July 14, 2009

Is it "eat the rich" or is it TANSTAAFL?

TANSTAAFL = There ain't no such thing as a free lunch!
Back in the U.S., another slimy bill is slithering its way through the halls of Congress. The latest proposed health care legislation would both eat the rich and introduce another mandatory government program. Oy…

Under the proposed bill, a 1% tax hike on couples earning over $350,000 would raise an estimated $500 billion over the next decade -- barely half the total cost of the program. Those taxes would help finance subsidized health care for the lower class, for which enrollment would be mandatory (or risk being fined).

“If you earn less than $350,000,” writes Bill Bonner, “you feel that you are getting something for nothing. But that money -- had it not been confiscated -- wouldn't have disappeared. It would have been put to work in one way or another -- added to the nation's capital formation, lent to the government, used to buy a new car or take a vacation. Instead, it is to be sucked out of the benefits of the willing economy and used to give people something they couldn't afford or didn't want to pay for themselves.”

“Don't bet against us,” the president assured us. “We are going to make this thing happen.”
-- from "$1.1 Trillion Deficit, Why the Euro is Still Down, Eating the Rich, Tech Convergence and More!" by Addison Wiggin and Ian Mathias

As P. J. O'Rourke (author of the great book, "Eat The Rich") has said, "If you think health care is expensive now, wait until you see what it costs when it's free."

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