{"id":13503,"date":"2010-03-31T01:35:57","date_gmt":"2010-03-31T01:35:57","guid":{"rendered":"http:\/\/euvolution.com\/futurist-transhuman-news-blog\/the-rich-can%e2%80%99t-pay-for-obamacare\/"},"modified":"2010-03-31T01:35:57","modified_gmt":"2010-03-31T01:35:57","slug":"the-rich-can%e2%80%99t-pay-for-obamacare","status":"publish","type":"post","link":"https:\/\/www.euvolution.com\/futurist-transhuman-news-blog\/libertarian\/the-rich-can%e2%80%99t-pay-for-obamacare.php","title":{"rendered":"The Rich Can\u2019t Pay For ObamaCare"},"content":{"rendered":"<p>Alan Reynolds at The Cato Institute launched this scathing attack on the funding mechanism for Obama&#8217;s new health care\u00a0legislation in the New York Times. \u00a0The article is well-worth the read and <a href=\"http:\/\/www.cato.org\/pub_display.php?pub_id=11631&amp;utm_source=feedburner&amp;utm_medium=feed&amp;utm_campaign=Feed:+CatoRecentOpeds+(Cato+Recent+Op-eds)\" target=\"_blank\">can be read here<\/a>.<\/p>\n<p><em>The president intends to squeeze an extra $1.2 trillion over 10 years from a tiny sliver of taxpayers who already pay more than half of all individual taxes. It won&#8217;t work.<\/em><\/p>\n<p><em>President Barack Obama&#8217;s new health-care legislation aims to raise $210 billion over 10 years to pay for the extensive new entitlements. How? By slapping a 3.8% &#8220;Medicare tax&#8221; on interest and rental income, dividends and capital gains of couples earning more than $250,000, or singles with more than $200,000.<\/em><\/p>\n<p><em>The president also hopes to raise $364 billion over 10 years from the same taxpayers by raising the top two tax rates to 36%-39.6% from 33%-35%, plus another $105 billion by raising the tax on dividends and capital gains to 20% from 15%, and another $500 billion by capping and phasing out exemptions and deductions.<\/em><\/p>\n<p><em>Add it up and the government is counting on squeezing an extra $1.2 trillion over 10 years from a tiny sliver of taxpayers who already pay more than half of all individual taxes.<\/em><\/p>\n<p><em>It won&#8217;t work. It never works.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Alan Reynolds at The Cato Institute launched this scathing attack on the funding mechanism for Obama&#8217;s new health care\u00a0legislation in the New York Times. \u00a0The article is well-worth the read and can be read here. The president intends to squeeze &hellip; <a href=\"https:\/\/www.euvolution.com\/futurist-transhuman-news-blog\/libertarian\/the-rich-can%e2%80%99t-pay-for-obamacare.php\">Continue reading <span class=\"meta-nav\">&rarr;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"limit_modified_date":"","last_modified_date":"","_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[28],"tags":[],"class_list":["post-13503","post","type-post","status-publish","format-standard","hentry","category-libertarian"],"modified_by":null,"_links":{"self":[{"href":"https:\/\/www.euvolution.com\/futurist-transhuman-news-blog\/wp-json\/wp\/v2\/posts\/13503"}],"collection":[{"href":"https:\/\/www.euvolution.com\/futurist-transhuman-news-blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.euvolution.com\/futurist-transhuman-news-blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.euvolution.com\/futurist-transhuman-news-blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.euvolution.com\/futurist-transhuman-news-blog\/wp-json\/wp\/v2\/comments?post=13503"}],"version-history":[{"count":0,"href":"https:\/\/www.euvolution.com\/futurist-transhuman-news-blog\/wp-json\/wp\/v2\/posts\/13503\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.euvolution.com\/futurist-transhuman-news-blog\/wp-json\/wp\/v2\/media?parent=13503"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.euvolution.com\/futurist-transhuman-news-blog\/wp-json\/wp\/v2\/categories?post=13503"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.euvolution.com\/futurist-transhuman-news-blog\/wp-json\/wp\/v2\/tags?post=13503"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}