Good news, dear reader, it appears a mere $600 billion in incremental tax increases are coming.
Even better news: that's just to pay for health care, much less the debacle that's going on now - forget the $2 trillion deficit we would have anyway.
Luckily, the plan is simply to further soak the rich (how wet can somebody get before they are thoroughly soaked?) and have five million people subsidize three hundred million.
Obama has pledged that health-care changes won’t add to the deficit. To accomplish that, he’s proposed getting about $600 billion by reducing tax deductions available to the wealthy, and by trimming Medicare payments to insurance companies.He goes on to state that he understands that number is too big and there will have to be cuts. If past is prologue, he'll cut some nominal amount and then stomp for approvale at his grand achievemnt.
Or, as the good folks at Zerohedge state it:
Additionally as Obama has pretty much staked his political career on only raising the taxes of those who make over $250,000 per year. That's what - 4, maybe 5 million Americans? So, $600 billion divided by 5 million, that makes... oh, about $120,000 in tax increases per person.I'll note that is before those same people pay for the deficit/debt that already exists.
Someday, perhaps, Atlas will indeed shrug as even his capable shoulders can only bear so much burden. TILB mourns for America...