The Health Care Bill and Job Losses
"Tax cuts create jobs...."
-Governor Bill Richardson D-NM
The corollary is also true. Tax increases kill jobs. You will find a summary of taxes increased and will understand the jobs that will be eliminated when Nancy Pelosi and the Democrats in the House pass the health care bill. Our economy is bleeding jobs and we see exactly the wrong policies come out of Washington.
No wonder people are furious. The health care bill punishes everyone working for a living and our economy as a whole.
Please take time to read the attached memo about the tax increases we will see when the health care bill is passed tomorrow.
People ask me how I know it will pass. The Speaker of the House cannot afford to be wrong on too many public issues. She has said they will have the vote tomorrow. She will not take it to the floor and have a failed vote, so you can be sure she has the votes.
She has already made one serious miscalculation as Speaker. She brought the TARP bill to the floor in September 2008 and the measure failed on the floor. She was furious with her team for putting her in the public position of failing in a floor vote.
If she fails tomorrow, her tenure as Speaker will be ended and Obama will effectively become a lame duck. The stakes are high. That is the reason they have been buying so many votes among House Democrats. The President has said, "he does not care what it takes to get the bill passed," even lawless disregard for the Constitution and the rules of Congress mean nothing to the gang in Washington. Even if they have to destroy the rule of law, they do not plan to fail.
The list of tax changes made in the bill are summarized below, with a more full explanation in this attachment.
1. Creates a special deal for union members.
2. Makes a bad surtax worse
3. Increases taxes on real estate investments.
4. Vastly expands IRS powers.
5. Imposes new marriage penalties.
6. Breaks the President's pledge on not taxing the middle class in at least a dozen ways.
7. Ensnares a growing number of people in the Cadillac tax.
8. Repeats the mistakes of the AMT.
9. Forces those with catastrophic costs to pay even more.
10. Punishes investment in our economy.
11. Robs Peter and leaves Paul broke.