Obamacare: the regulations avalanche begins

Posted by: Phineas on December 5, 2012 at 3:51 pm

**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.

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

(Crossposted at Public Secrets)

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6 Responses to “Obamacare: the regulations avalanche begins”

Comments

  1. Bill says:

    Can anyone see the problem with this picture?
    In our modern day PDF file pages the Declaration of Independence is 5 pages long. The U.S. Constitution is 15 pages which includes the 1 page of the Bill of Rights.

    The Frank-Dodd act is over 2,300 pages.
    The Obama(doesn’t)Care act is over 2,500 pages.
    In 2012, there are 73,608 pages to the U.S. Tax Code.

    My guess is that everyone that voted for the Declaration, Constitution and Bill of Rights actually read them. Admittedly by Pelosi and the Supremes, no one read the Obama(doesn’t)Care act. My guess is they also didn’t read the Frank-Dodd bill either.

    BTW, there are 500 pages to a ream of paper, the tax code consumes 147.2 reams of paper. A ream of paper is appx 3 inches high. So our tax code is appx 37 feet tall.

  2. Drew the Infidel says:

    Obhammudcare could be headed back to the Supreme Court because 27 of the 50 (or is it 57?) states have refused to set up insurance exchanges, something our Ayatollah-in-Chief thought would never happen, what with his being so charismatic and universally loved (puke here). Keep in mind no one had any clue what was in the bill, Pelosi because she is dumber than an ashtray, but the rest of us because the media we depend upon to “sound the alarm” was too preoccupied conducting an expensive and unproductive junket to AK to paw through thousands of Sarah Palin’s official e-mails from her time as governor.

  3. Nate says:

    On a positive note, at least Toyota won’t be the only thing where you ask for it, you get it.

  4. mudguy says:

    Yakov Smirnoff was asked what he thought of Obamacare. He said thats what he grew up with in Russia. When will we ever learn from the people that have moved here from the countries that have government run health care. Heard a women say that had move here from Venezuela that Obama reminds her of Hugo Chavez and what has done to Venezuela. When will ever learn.

  5. Tex says:

    Well, at least rest peacefully at night knowing that Obama will not have to deal with Obamacare for his own personal insurance needs – he’s got the same ‘special’ sweetheart insurance plan all the Congressmen have.

  6. Carlos says:

    Again, it’s time to demand that government people have to live with the same rules, laws and regulations that We, the People, have to live with. No more golden parachutes, no more “Social Security is fine for thee but not for me,” no more “You have to have ObamaCare but we have our own plan,” no more sexual harassment is illegal for everyone EXCEPT elected federal officials (see “President Bill Clinton” under “Impeachment” and “Bob Packwood” under “Not enough to charge with a crime.”)

    It used to be public service. Now, it’s simply a way to not only get rich, but make regular folk grovel at your feet while paying you to get rich!