Tag Archives: Crony

What we voted for: new Obamacare taxes coming in 2014

The New York Post reports.

Excerpt:

The cost of President Obama’s massive health-care law will hit Americans in 2014 as new taxes pile up on their insurance premiums and on their income-tax bills.

Most insurers aren’t advertising the ObamaCare taxes that are added on to premiums, opting instead to discretely pass them on to customers while quietly lobbying lawmakers for a break.

But one insurance company, Blue Cross Blue Shield of Alabama, laid bare the taxes on its bills with a separate line item for “Affordable Care Act Fees and Taxes.”

The new taxes on one customer’s bill added up to $23.14 a month, or $277.68 annually, according to Kaiser Health News. It boosted the monthly premium from $322.26 to $345.40 for that individual.

The new taxes and fees include a 2 percent levy on every health plan, which is expected to net about $8 billion for the government in 2014 and increase to $14.3 billion in 2018.

There’s also a $2 fee per policy that goes into a new medical-research trust fund called the Patient Centered Outcomes Research Institute.

Insurers pay a 3.5 percent user fee to sell medical plans on the HealthCare.gov Web site.

[…]Americans also will pay hidden taxes, such as the 2.3 percent medical-device tax that will inflate the cost of items such as pacemakers, stents and prosthetic limbs.

Those with high out-of-pocket medical expenses also will get smaller income-tax deductions.

Americans are currently allowed to deduct expenses that exceed 7.5 percent of their annual income. The threshold jumps to 10 percent under ObamaCare, costing taxpayers about $15 billion over 10 years.

Then there’s the new Medicare tax.

Under ObamaCare, individual tax filers earning more than $200,000 and families earning more than $250,000 will pay an added 0.9 percent Medicare surtax on top of the existing 1.45 percent Medicare payroll tax. They’ll also pay an extra 3.8 percent Medicare tax on unearned income, such as investment dividends, rental income and capital gains.

Right now, Obama is furiously trying to re-write the law by arbitrary executive decisions. But all this does is remove the amount of money being paid into the system, while keeping the amount being spent the same. What will be the end result of a massive shortfall in funding for Obamacare? As Byron York argues, the end result of will be that the Democrats bail out health care insurance companies to keep them from going bankrupt.

Transcript:

COLBY: What do you think about these bailouts of insurance companies, as well? Could that happen?

YORK: It absolutely will happen –

COLBY: Will happen?!

YORK: As a matter of fact, it’s written into the law. There’s something called “risk corridors,” which basically ensure that if an insurance company ends up paying a lot more in benefits than it takes in in premiums, then the federal government will bail it out — it will make it good. And it looks like we are entering a situation — certainly in the first month of January — where the insurance companies will be in that situation. And they’e not going to take the losses. It will be the taxpayer who makes up for those losses.

Do you think that raising the debt from $8.5 trillion to $17 trillion was irresponsible? Then wait until the government has to bail out all their left-wing cronies in the health insurance industry.

One thing is for sure – the Republicans will be running on Obamacare in 2014:

New Hampshire:

Minnesota:

This money that is being wasted due to socialist incompetence doesn’t come from government workers or politicians – they don’t earn any money of their own. The money comes from government borrowing from your children. Honestly, I if I had children, I might be tempted to leave this country, especially if I wanted to have lots of them. This really isn’t the place for a big family any more.

Obama administration blocks energy development on 1.6 million acres of federal land

From The Hill. (H/T Doug Ross @ Journal)

Excerpt:

The Interior Department on Friday issued a final plan to close 1.6 million acres of federal land in the West originally slated for oil shale development.

The proposed plan would fence off a majority of the initial blueprint laid out in the final days of the George W. Bush administration. It faces a 30-day protest period and a 60-day process to ensure it is consistent with local and state policies. After that, the department would render a decision for implementation.

The move is sure to rankle Republicans, who say President Obama’s grip on fossil fuel drilling in federal lands is too tight.

Interior’s Bureau of Land Management cited environmental concerns for the proposed changes. Among other things, it excised lands with “wilderness characteristics” and areas that conflicted with sage grouse habitats.

Remember when Obama that Obama’s goal is not to lower energy prices – it’s to raise the price of energy in order to save the planet from global warming:

Investors Business Daily will help you remember Obama’s record of blocking domestic energy development.

Excerpt:

Shell has fought the administration to begin drilling in the Chukchi Sea off Alaska.

The federal government estimates there are 26.6 billion barrels of recoverable oil and 130 trillion cubic feet of natural gas in the Arctic Ocean’s Outer Continental Shelf but repeated safety reviews and designation of much of the region as critical polar bear habitat has slowed development to a crawl.

Only 2.2% of federal offshore land is currently being leased for production.

Then there are the 10 billion barrels locked up in the Arctic National Wildlife Reserve, which would require drilling in just 2,000 acres out of 19 million.

The Obama administration recently rescinded 77 oil and gas leases in Utah and stalled oil shale research and development in Utah, Colorado and Wyoming, where the federal government owns most of the world’s oil shale reserves.

Out West, we may have a “Persia on the Plains.” A Rand Corp. study says the Green River Formation, which covers parts of Colorado, Utah and Wyoming, has the largest known oil shale deposits in the world, holding from 1.5 trillion to 1.8 trillion barrels of crude — most of it locked up by federal edict.

Under President Obama, the American Petroleum Institute notes, leases on federal lands in the West are down 44%, while permits and new well drilling are both down 39% compared to 2007 levels.

After the BP oil spill, President Obama shut down most Gulf of Mexico drilling and there’s been a 57% drop in monthly deepwater permits since 2008, according to the Greater New Orleans Gulf Permit Index.

Who needs jobs? We have to “save the planet” from the global warming monster – and raise the price of electricity! Only “the rich” put gas in the their cars and use electricity, right? So only the rich will be affected when electricity prices skyrocket. That’s Obama’s goal. That’s what his supporters elected him to do in the last election.

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New study: there has been no global warming since 1997

Newest climate data: no change in temperatures since 1997
Newest climate data: no change in temperatures since 1997

Reported in the UK Daily Mail.

Excerpt:

The world stopped getting warmer almost 16 years ago, according to new data released last week.

The figures, which have triggered debate among climate scientists, reveal that from the beginning of 1997 until August 2012, there was no discernible rise in aggregate global temperatures.

This means that the ‘plateau’ or ‘pause’ in global warming has now lasted for about the same time as the previous period when temperatures rose, 1980 to 1996. Before that, temperatures had been stable or declining for about 40 years.

The new data, compiled from more than 3,000 measuring points on land and sea, was issued  quietly on the internet, without any media fanfare, and, until today, it has not been reported.

This stands in sharp contrast  to the release of the previous  figures six months ago, which went only to the end of 2010 – a very warm year.

Ending the data then means it is possible to show a slight warming trend since 1997, but 2011 and the first eight months of 2012 were much cooler, and thus this trend is erased.

[…]The regular data collected on global temperature is called Hadcrut 4, as it is jointly issued by the Met Office’s Hadley Centre and Prof Jones’s Climatic Research Unit.

How much has all the hype about global warming cost the British taxpayer?

Your bills are going up, at least in part, because of the array of ‘green’ subsidies being provided to the renewable energy industry, chiefly wind.

They will cost the average household about £100 this year. This is set to rise steadily higher – yet it  is being imposed for only one  reason: the widespread conviction, which is shared by politicians of all stripes and drilled into children at primary schools, that, without drastic action to reduce carbon-dioxide emissions, global warming is certain soon to accelerate, with truly catastrophic consequences by the end of the century – when temperatures could be up to five degrees higher.

Hence the significance of those first two answers. Global industrialisation over the past 130 years has made relatively little difference.

And with the country committed by Act of Parliament to reducing CO2 by 80 per cent by 2050, a project that will cost hundreds of billions, the news that the world has got no warmer for the past 16 years comes as something of a shock.

Across the pond in the United States, we are not only paying more for electricity because of energy taxes and energy regulations, but we are also losing blue collar jobs, as the Daily Caller explains:

Coal company Alpha Natural Resources announced Tuesday it would be laying off 1,200 workers and closing eight coal mines to face two new challenges: cheap natural gas and “a regulatory environment that’s aggressively aimed at constraining the use of coal.”

The Associated Press reports that the company is cutting production by 16 million tons and 1,200 jobs nationwide, with 400 layoffs occurring immediately by closing coal mines in Virginia, West Virginia and Pennsylvania.

Four mines will be closed in West Virginia, another three will be closed in Virginia and one in Pennsylvania. All the mines are non-union operations, according to the AP.

Not only that, but the Wall Street Journal just reported that Obama banned oil drilling on 11.5 million acres of federal land:

President Obama is campaigning as a champion of the oil and gas boom he’s had nothing to do with, and even as his regulators try to stifle it. The latest example is the Interior Department’s little-noticed August decision to close off from drilling nearly half of the 23.5 million acre National Petroleum Reserve in Alaska.

The area is called the National Petroleum Reserve because in 1976 Congress designated it as a strategic oil and natural gas stockpile to meet the “energy needs of the nation.” Alaska favors exploration in nearly the entire reserve. The feds had been reviewing four potential development plans, and the state of Alaska had strongly objected to the most restrictive of the four. Sure enough, that was the plan Interior chose.

That kind of thing, along with blocking the Keystone XL pipeline, explains why gas prices are so high, and why we have no energy jobs being created. They are being created in Brazil, China and elsewhere, but not here. Why would anyone create jobs here when corporate taxes and regulations eat up profits? If the USA is worried so much about global warming, then they don’t want jobs and they don’t want lower electricity prices. You can’t have everything at once.

This is all according to plan, as Obama explained:

Higher energy prices and bankrupting coal plants is how Obama planned to deal with “global warming”. That was one of his top priorities as President. Only there was no global warming. That was just an excuse by left-wing academic charlatans to get more grant money for their universities by extracting it from the private sector businesses and workers. The government went along with it because they wanted control of business, and a legitimate looking way of paying off their campaign fundraisers, as with Solyndra. That’s all global warming was. It was a hoax designed to achieve a more socialist economy why rewarding Democrat donors.

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