|What Was Billed As “The Largest Middle Class Tax Cut” Actually “Will Go Directly To Insurers”
PRESIDENT OBAMA: “It’s Also Important To Note That The New Health Reform Law Includes The Largest Middle Class Tax Cut For Health Care In History, and once it’s implemented; millions of Americans will finally be able to purchase quality, affordable care and the security and peace of mind that comes with it.” (President Obama, Weekly Radio Address, 4/10/10)
IRS: “The Health Care Subsidies Will Go Directly To Insurers, Not Taxpayers” “The IRS does a poor job of managing social programs. … In tax year 2006, the latest year available, IRS made $10 billion to $12 billion in erroneous EITC [Earned Income Tax Credit] payments, according to a study by the Treasury Department’s inspector general. IRS officials argue that the two programs are vastly different. The health care subsidies will go directly to insurers, not taxpayers, giving individuals little incentive to cheat, says IRS spokesman Frank Keith.” (“IRS Lacks Clout To Enforce Mandatory Health Insurance,” USA Today, 4/29/10)
|Permalink Posted: April 29, 2010 at 3:47:26 PM EDT|
|Fact Check: “The Big Banks Hate” The Dodd Bill|
|SEN. HARRY REID (D-NV): “The Big Banks Hate What We’re Doing.” (Sen. Reid, Press Conference, 4/15/10)
SEN. DICK DURBIN (D-IL): “Wall Street Hates This Idea Like The Devil Hates Holy Water.” (Sen. Durbin, Congressional Record, S.2690, 4/27/10)
Wall Street: “The Biggest Beneficiaries Of Reform Will Be Wall Street Itself”
LLOYD BLANKFEIN, Goldman Sachs CEO: “I Listened To A Speech By Barack Obama At Wall Street, And One Of The Points He Made Resonated With Me Because I’d Said It Myself. He Said That The Biggest Beneficiaries Of Reform Will Be Wall Street Itself.” (Homeland Security & Government Affairs, Permanent Subcommittee On Investigations, U.S. Senate, Hearing, 4/27/10)
VIKRAM PANDIT, Citigroup CEO: “A Firm Advocate Of Strong Regulatory Reform.” “Citigroup CEO Vikram Pandit has pledged support for financial regulatory reform under consideration by Congress, according to a letter obtained by The Hill. Change is needed to create robust markets, investor confidence and trust in the financial system, Pandit wrote President Barack Obama shortly after his speech in New York pushing for reform. After two trying years for Citi and other financial institutions, Pandit said he has been ‘a firm advocate of strong regulatory reform.’” (“Citi Chief Supports Financial Reform Bill,” The Hill’s On The Money Blog, 4/27/10)
via Republican.Senate.Gov – Blogs.
Dems now calling federal ObamaCare mandate a “tax”
Despite their bravado, Democrats in Washington apparently aren’t at all sure that the federal mandate to buy insurance will survive the scrutiny of the Supreme Court. Randy Barnett reports in the Wall Street Journal that the backers of the bill have begun calling it a tax rather than a mandate in an effort to play a rhetorical shell game with the courts and to avoid having the core of their efforts ruled unconstitutional. But will that fool the Supreme Court at all? Barnett thinks not:
via Hot Air » Blog Archive » Dems now calling federal ObamaCare mandate a “tax”.