TAX POLITIX
The Politics of Taxes
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Obama tells America: Stop the “Phony Scandals”
On Wednesday, Obama tried to change the national conversation about the long string of questions dogging the White House. He decided he is back to being serious about jobs. Very serious. Serious enough to talk about jobs for an hour at Knox College in Galesburg, Illinois. This speech was touted as the kick-off to a series of events and talks aimed to get refocused on jobs. A funny thing happened on the way to the recovery. In the midst of his speech, Obama slips in a scolding remark to his...
Another New Reason to Reject Obamacare
Staggering costs. Gross mismanagement. Delays. If these current problems with Obamacare aren't enough to persuade you to support its full repeal, maybe this latest revelation will: The Federal Data Services Hub What is this Hub, and how is it related to Obamacare? According to the folks over at Rare.com "The Data Hub is a comprehensive database of personal information being established by the Department of Health and Human Services (HHS) to implement the federally facilitated health insurance...
Even the Unions are Starting to Fight Obamacare
Three major Unions, including James P. Hoffa of the International Brotherhood of Teamsters, wrote a letter to Nancy Pelosi and Harry Reid this past week. In the letter, they echoed the sentimeng of millions of Americans who are concerned about Obamacare. The opening salvo is scathing. “When you and the President sought our support for the Affordable Care Act, you pledged that if we liked the health plans we have now, we could keep them. Sadly, that promise is under threat,” letter said. “Right...
Obamacare: Bad Economics, Bad “Insurance”
Obamacare was sold to the public as universal health insurance. Insurance, in and of itself, is an exchange of a premium payment in return for a guarantee against specific loss criteria — such as damage or death. Prime examples of this are home and life insurance. And yet, health insurance in our country is not merely a guarantee against loss due to ill health; it encompasses much, much more. In this way, health insurance doesn’t follow the examples of other insurance industries, and therein...
The IRS Targeting is Overreaching
As a CPA who has practiced for four decades, I can say without hesitation that the IRS conduct was severely overreaching. The cherry-picking of organizations and the burdensome scrutiny that was administered by IRS official is utterly beyond the scope of anything they should, and are allowed, to do. The likelihood that the White House coordinated with the IRS (as well as the media) is strengthened based on the well-researched timeline provided by Kim Strassel at the WSJ. She demonstrated that...
The IRS Obamacare Provision Must Be Repealed Now
Recently, the IRS proposed a new regulation that is inconsistent with and actually in direct violation of Congressional law. The IRS was instructed by the Obama Administration to implement the extension of premium assistance tax credits not only for those purchasing through State run exchanges (as provided for in the law) but also for those purchasing through federal exchanges - which is incompatible with what is contained in the Patient Protection and Affordable Care Act (PPACA). Thankfully,...
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