*before you read consider this: one of the many things that makes this Recession the "Great Recession' is that upper middle and higher income wage earners have lost and will likely, lose their jobs placing them back in a lower tax bracket. And while small business may hire more employees than larger corporations, historically they are lower paying jobs and the company has always paid higher taxes. Keep this in mind as you read some of the highlights below.
wsj.com(July 15)
Small Business Faces Big Bite
House Health Bill Penalizes All but Tiniest Employers for Not Providing Insurance
Health Bill Would Hit Small Business House Democrats unveiled a sweeping health-care bill that would impose new taxes on the wealthy and hit businesses with a penalty equal to 8% of payroll if they fail to provide insurance.
Under the House measure, employers with payrolls exceeding $400,000 a year would have to provide health insurance or pay the 8% penalty. Employers with payrolls between $250,000 and $400,000 a year would pay a smaller penalty, and those less than $250,000 would be exempt. Certain small firms would get tax credits to help buy coverage.
"This bill costs too much, it covers too few and it has way too much government involvement," said Michelle Dimarob, a lobbyist with the National Federation of Independent Business, the main trade group for small firms. "Small business doesn't want any of those things."
The House bill would place new taxes on the wealthiest people to help expand insurance coverage to the nation's 46 million uninsured people. The legislation calls for a 5.4% surtax on those with annual gross incomes exceeding $1 million.
Households with annual income between $500,000 a year and $1 million would be hit with a 1.5% surtax, and those earning between $350,000 and $500,000 would face a 1% surtax. Those rates could eventually increase to 3% and 2%, respectively, if the government doesn't achieve certain health-cost savings.
*I am all for some sort of national healthcare system, call me a socialist, what do I care (we're all socialists now ijiots, have you looked at the banks you own?). But this House Bill is the stupidest thing to come out along with Schumer's blowharding about taxing healthcare companies as a penalty for not climbing on board (I think it's all a smoke screen from Uncle Chucky, he's in bed with these guys no mistake about it). My only optimism comes from knowing the Senate donkey's aren't as stupid and Obama is smart by telling Pelosi to go first, let her take the arrows in her back. But me thinks I smell a big rat. Congress knows they can't get a healthcare bill passed. But what do they do with their constituents? They make it look like they are trying soooooo hard.
Here's the deal. If you haven't lost your job yet, you will, and then you can apply for welfare and then get on medicaid (socialism people just like your social security).
All kidding aside. Here's my idea:
Senator Bill Bradley in 2000 was running against that other spineless weasel, (who has since redeemed himself in my eyes) Al Gore for President. Bradley had a helath plan that was perfect. Solution: we all become part of the federal employee program. We pay say $150 a month and if we can't afford it now, they take it out later (we owe we owe IOU). Our representatives are all part of this system and WE pay for them to have health insurance while we don't. See what's wrong with that? And guess what, there are at least 5 insurance providers that compete (good for business) and you have a variety of plans you can choose from. The government would not be running this any diffrently than they do now and I don't hear any recipient complaining about what they are getting.
I think we would all agree that ALL of us would gladly pay a little more in taxes if what we got in return was healthcare. -Tradebum
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