Obamacare: the regulations avalanche begins

**Posted by Phineas

And this is just the start.

People are going to hate this, but, hey, it’s what they voted for:

It took the Internal Revenue Service (IRS) 159 pages to explain one new Obamacare tax on investments that will be used to pay for Obamacare.

Only individuals and families making more than $200,000 and $250,000, respectively, will be impacted by the tax, which “applies to a broad range of investment securities ranging from stocks and bonds to commodity securities and specialized derivatives.”

One new tax = 159 pages of rules, sections and subsections. You can bet your accountant is going to have to raise his rates.

But, don’t worry, these new rules and Byzantine regs only apply to those evil “rich” (1) who make more than a couple of hundred grand in combined salary and investments. That is, it will until the government admits what they knew all along, that it won’t raise enough money, that it never would raise enough money, and that they’ll –regrettably, of course, and in the name of fairness–  have to include more of the well-off. Let’s say, those who make more than $150k. Then $100K. Then…?

Former New York City Mayor Ed Koch once famously said, “The people have spoken, and they must be punished.”

Well, bend over, Obama voters, because here it comes. Shame of it is, we all have to suffer with you idiots.

More in the “Elections Have Consequences” department:

  • Walmart is ending insurance coverage for new hires. Well, why shouldn’t they? It’s probably cheaper for the company to pay the fines and let people get their (taxpayer subsidized) insurance on the exchanges. Which, of course, has been the Left’s plan all along, as the goal is the ending of private medical insurance and the creation of a single-payer system.
  • Cheesecake Factory CEO warns he may have to raise prices due to Obamacare. Well, duh! Insurance is a cost that has to be accounted for, or avoided. I hope the company has the guts to make this added expense clear on the check.

And you can bet there’s more on the way.

(1) You know. Those nasty, awful, EVIL people who run small businesses and create jobs.

(Crossposted at Public Secrets)

Detroit City Councilwoman to Obama: You won our vote, now show us the money

Via MyFox Detroit:

DETROIT (WJBK) — The city of Detroit faces a major financial crisis and one member of city council thinks President Barack Obama should step in and help.

City Council member JoAnn Watson said Tuesday the citizens support of Obama in last month’s election was enough reason for the president to bailout the struggling the city.

“Our people in an overwhelming way supported the re-election of this president and there ought to be a quid pro quo and you ought to exercise leadership on that,” said Watson. “Of course, not just that, but why not?”

Nearly 75 percent of Wayne County voters pulled the lever for Obama in November.

“After the election of Jimmy Carter, the honorable Coleman Alexander Young, he went to Washington, D.C. and came home with some bacon,” said Watson. “That’s what you do.”

Young served as Detroit’s mayor for 20 years and served as vice chairman of the Democratic National Committee from 1977 to 1981.

Make sure to watch video of Watson’s remarks at that same link.

People should be outraged by this, but most won’t be. Because this is the era we live in now – where $$ and goodies and promised, especially by Democrats, in exchange for votes. In the case of Detroit, it’s especially notable, considering how Democrats touted over and over again how federal tax dollars going towards the auto industry supposedly helped “save” Detroit. Contrary to that, however, some reports suggest the city could go bankrupt by the end of the year. The reality of the matter is that Detroit was NOT “saved” by the feds – not by a long shot, which is, in part, why this city council member has her hand held out demanding “bacon” for the city in exchange for their overwhelming support for our celebrity President.

Obama, the “savior” of Detroit, didn’t really save anything – but the myth that he did sounds so much better than the cold hard reality. So, sure, let’s pony up even more taxpayer dollars to try and “bailout” this failing US city. Again. That’ll fix it. Just like it did before (not).

You really cannot make this stuff up.