President Obama says his health care initiative will cost almost a trillion dollars over the next 10 years, but some analysts believe the cost will be double that. And because the USA is nearly bankrupt now, higher taxes are coming.
The group Americans for Tax Reform estimates that over the next 10 years, the feds will raise nearly $750 billion in new taxes. That, of course, will affect everybody, not just the rich. So get ready.
Already some states are taxing car accidents. If you have one, you could pay for the cleanup.
Also, some places want 911 calls taxed. You make one, you pay. If police or firefighters respond to your emergency, you could be taxed. The government calls this a fee for services.
President Obama wants to tax tanning salons. And you can expect higher taxes on everything that might not be good for you like Frosted Flakes, Haagen-Dazs and gummy bears.
Here in New York state, they are now charging sales tax when you buy stuff out of state. So if I'm down in Florida and New York state people find out I buy a boat there, they'll come after me.
In addition, expect higher tolls on roadways, higher fees for licenses, registrations, inspections and just about anything else the government can think of.
So the big government expansion President Obama wants will affect every American. We will all pay a lot more money to the government.
The question then becomes: Is a health care entitlement, or increased aid to the poor, or more money to the Pentagon worth the toll, pardon the pun, it will take on working Americans?
"Talking Points" believes we are taxed to the max right now. Just look at every bill you get. There is a tax included, and those taxes are going up, and no one will tell you that.
Obamacare is perhaps the biggest entitlement expenditure in America's history. It will bring relief to Americans who do not have health insurance, but it will also punish working Americans who are barely getting by right now.
So Americans need to wise up and figure this out. It's not all about illness. A big part of this is government control, the ability to spread the wealth around.
We have put forth common sense solutions to getting health care premiums down, but they are not included in the president's latest bill, things like tort reform and interstate insurance company competition.
President Obama has never denied that he believes in income redistribution, and that's what's underway right now: taking more of your money to fund programs. Is that healthy? You make the call.
And that's "The Memo."
Pinheads & Patriots
Snowboarding is becoming a very hot sport, especially with the Olympic exposure. And in Iowa, they are starting young, like three years old.
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WESLEY MURESAN, YOUNG SNOWBOARDER: I did it!
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Young Wesley Muresan is a patriot for his courage and skill.
On the pinhead front, you make the call on Olympic snowboarder Shaun White:
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STEPHEN COLBERT, HOST, COMEDY CENTRAL'S "THE COLBERT REPORT": You guys get judged, you know, by judges, and — and the figure skaters get judged by judges.
SHAUN WHITE, OLYMPIC GOLD MEDALIST: Yes.
COLBERT: How come you guys don't burst into tears when you're done?
WHITE: I don't know.
COLBERT: What is the difference in temperament, do you think, there?
WHITE: I imagine that they got to be sitting there like, "I wore this outfit, and I still didn't even win," you know?
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Pinhead? Up to you.