Hatch: Obamacare Must be Repealed to Boost Economy

[delta22]

Hatch: Obamacare Must be Repealed to Boost Economy

Monday, 22 Aug 2011 04:40 AM

By Greg McDonald

More ways to share... Mixx Stumbled LinkedIn Vine Buzzflash Reddit Delicious Newstrust Technocrati Share: More . . . A A | Email Us | Print | Forward Article Utah Sen. Orrin Hatch, citing an independent survey on rising costs to businesses, said Friday Obamacare repeal must be “on the table in any discussions to jump start the nation’s lagging economy.”

The top Senate Finance Committee Republican said it was “critical” to the nation’s economy that President Barack Obama shift his focus from preparing a new job stimulus plan to ending the overhaul of the nation’s health care system.

“The partisan health law is an assault on Americans individual liberty … It’s an also an assault on our economy and on our job creators, as this survey of employers demonstrates,” Hatch said, referring to the survey released Friday by the National Business Group on Health, which membership includes many of the top Fortune 500 companies.

The survey found that healthcare benefit costs are expected to rise about 7.2 percent next year under the health law and that two-thirds of the cost increases in premiums would be passed on to employees. The survey of 83 of the nation’s largest corporations was conducted in June.

“The President announced that he’s preparing a so-called jobs plan that will include more stimulus spending,” Hatch said. “I’d suggest he stop the spending and turn to his job-killing, budget-busting health law instead. This $2.6 trillion law must be on the table in any discussion about reviving our weak economy.”

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Important: Do You support Pres. Obama's Re-Election? Vote Here Now!

[sheepdog]

No, I would not vote for Obama.

Yes Obamacare must be repealed to boost the economy

[fnbplanet]

No, I would not vote for Obama.

Yes Obamacare must be repealed to boost the economy

Agreed.

[jchawaii]

Why don't the Republicans tax the rich like they tax the rest of us. It has been proven that we could eventually get a balanced budget just from doing that and stop giving the corporations, such as the oil companies, 40 billion dollars a year to search for more oil.

[WallyWeaver]

Why don't the Republicans tax the rich like they tax the rest of us. It has been proven that we could eventually get a balanced budget just from doing that and stop giving the corporations, such as the oil companies, 40 billion dollars a year to search for more oil.

I will have to respectfully disagree.

It has not been proven that taxing the rich more will do anything to help balance our budget.

Here is what has been proven, according to the Grace Commission:

Resistance to additional income taxes would be even more widespread if people were aware that:

• One-third of all their taxes is consumed by waste and inefficiency in the Federal Government as we identified in our survey.
• Another one-third of all their taxes escapes collection from others as the underground economy blossoms in direct proportion to tax increases and places even more pressure on law abiding taxpayers, promoting still more underground economy-a vicious cycle that must be broken.
• With two-thirds of everyone's personal income taxes wasted or not collected, 100 percent of what is collected is absorbed solely by interest on the Federal debt and by Federal Government contributions to transfer payments. In other words, all individual income tax revenues are gone before one nickel is spent on the services which taxpayers expect from their Government.
• link: <A href="http://www.uhuh.com/taxstuff/gracecom.htm">http://www.uhuh.com/taxstuff/gracecom.htm

Read those last two sentences carefully... 100% of all income taxes simply pay the interest on our national debt. Again, 0% of revenue collected from income taxes goes toward ANY Federal spending, it only covers the INTEREST payments on the Federal debt.

Increasing income taxes on ANYONE will do nothing to balance our budget nor will it help pay for Medicare or Social Security or for the salaries of our Armed Forces. It is very important to understand that.

The idea of making the rich pay more in personal income taxes is nothing more than class warfare rhetoric; it has nothing to do with reality.

Grace Commission link: http://www.uhuh.com/...ff/gracecom.htm