“If you think health care is expensive now, wait until you see what it costs when it’s free.” P. J O’Rourke
After a while one becomes numb to the asinine activities of our elected representatives. An earlier post today, referred to an article by Kunstler whose view of our future is less than rosy. This morning two editorials in the WSJ dug deeper into the monstrosity known as the House version of Healthcare Reform. The capital gains provision is purely punitive, another attempt to punish the rich. It has nothing to do with raising revenues. Indeed it will do just the opposite. Plus, it is could crash the stock market as people get out of their winners in advance of the tax increases. The second deals reveals the legislative reptilian sliminess that we have come to expect: pretend to fix something while burying clauses that do just the opposite.
These editorials deal with merely the tip of a huge dung iceberg.
How much more of this nonsense are you willing to put up with?
A 69% Capital Gains Tax Hike . . .
Pelosi’s 5.4% income surtax would hit capital gains and dividends.
. . . And a Buried Tort Bomb
A stealth provision that would undermine state damage caps.