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Friday, October 9, 2009

Friday morning taxation musings. Nancy mentions the VAT tax!

video


Don't believe me....read this http://online.wsj.com/article/SB10001424052748703298004574457512007010416.html

2 comments:

Anonymous said...

Good Job --- Professor ... keep these cock-a-roaches in Washington on their toes!!!

derekp said...

A couple of quick thought on your points this morning even though I am preaching to the choir.

Individual mandate- yes this takes away ones right to choose but it also eliminates free riders and I support this.

Employer mandate- This is a job killer. What company will hire more than the maximum number of workers (25 under current bill)? Furthermore, an 8% payroll tax will cost far less than buying insurance for the all the employees. How many companies will pay the tax and cancel their current insurance policy?

Tax on medical equipment- Who is going to pay the tax? If Medicare is paying the tax is the government just taxing itself?

Surcharge on the wealthy- dumb

Tax on Cadillac health plans- This makes a lot of sense because tax deductable insurance should not be paying for ridiculous benefits like weekly foot messages.

Medicare and Medicaid savings- If the proposed savings are going to come from eliminating waste fraud and abuse why do we need a new law? Just enforce the existing laws.

VAT- How will they ensure that the people making less than 250k will not pay any additional taxes? I suppose I will need to save my receipts for the entire year and include them with my already too simple to fill out tax return.

Nice to see your smiling face this AM