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I Told You So (Health “Reform” An Asset-Stripping Scheme)

Home - by - December 10, 2012 - 14:45 America/New_York - 12 Comments

Market Ticker

I’m rather surprised that I missed this originally — but it was brought up on the forum and definitely deserves a Ticker….

It turns out that ObamaCare makes an essential part of its regulatory scheme—an $800 billion bailout of private health insurance companies—conditional upon state governments creating the health insurance “exchanges” envisioned in the law.

This was no “drafting error.” During congressional consideration of the bill, its lead author, Sen. Max Baucus (D-MT), acknowledged that he intentionally and purposefully made that bailout conditional on states implementing their own Exchanges.

Note: Bailout. As in “hand money to private health insurance companies stolen from you” (as if the premiums they’ve been collecting aren’t enough to begin with!)

Now that it appears that as many as 30 states will not create Exchanges, the law is in peril. When states refuse to establish an Exchange, they are blocking not only that bailout, but also the $2,000 per worker tax ObamaCare imposes on employers. If enough states refuse to establish an Exchange, they can effectively force Congress to repeal much or all of the law.

That might explain why the IRS is literally rewriting the statute. On May 24, the IRS finalized a regulation that says the law’s $800 billion insurance-industry bailout will not be conditional on states creating Exchanges. With the stroke of pen, the IRS (1) stripped states of the power Congress gave them to shield employers from that $2,000 per-worker tax, (2) imposed that illegal tax on employers whom Congress exempted, and (3) issued up to $800 billion of tax credits and direct subsidies to private health insurance companies—without any congressional authorization whatsoever.

So the IRS (Treasury, that being Timmy Geithner) decided to ignore the law.

That’s not uncommon, you know.

 

more

h/t  Cruisin Cat

» 12 Comments

  1. Stranded in Sonoma

    December 10th, 2012

    And now someone will have to make the long trek back to SCOTUS to get the IRS to follow the law as written.

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  2. Stirrin the B.S.

    December 10th, 2012

    Now we know why there were no Harry and Louise commercials opposing Obamacare. Obumphuk bribed the health insurance industry, just as he did MANY other groups and individuals in order to impose his will upon his subjects.

    “….Harry and Louise” was a $14 to $20 million year-long television advertising campaign funded by the Health Insurance Association of America (HIAA)—a predecessor of the current America’s Health Insurance Plans (AHIP)—a health insurance industry lobby group, that ran intermittently from September 8, 1993 to September 1994 in opposition to President Bill Clinton’s proposed health care plan in 1993–1994 and Congressional health care reform proposals in 1994…..”

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  3. Billy Fuster

    December 10th, 2012

    What’s the problem? The IRS only has good intentions. If it weren’t true why do so many moral people hand over their hard-earned tax dollars to them?

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  4. J Frank Parnell

    December 10th, 2012

    Just making laws up as “they” go. Sounds like totalitarianism.

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  5. J Frank Parnell

    December 10th, 2012

    Just like Eric Bish–er Jamie Foxx said about killing all the white people: “How Black is that!”

    How about 365 Black®. Cradle to grave enslavement.

    I want the government to literally wipe my ass next. WRITE THAT into the 73,000 pages of Tax Code HO-BITCHES!

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  6. MaryfromMarin

    December 10th, 2012

    I didn’t realize that our laws were quite so fluid.
    Does that mean I can ignore them, in the understanding that they’ll be different in an hour?

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  7. J Frank Parnell

    December 10th, 2012

    OK that last one was for the Pizza Shop thread.

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  8. sileceal

    December 10th, 2012

    I am soooo naive. I always kind of “assumed” when a bill/law was written and voted “in” that the contents of that legislation could not undergo revision without reissuing to the voting body(ies) for the revision. So I guess all bills and laws can remain fluid??

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  9. Carlos The Jackal

    December 10th, 2012

    http://hotair.com/archives/2012/06/12/study-in-crony-capitalism-obamacare-and-big-pharma/

    “The Health Care industry was against it before they were for it.”
    Really?

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  10. Hotlanta Mike

    December 10th, 2012

    @sileceal

    Silly thing Obamacare, the act has written within it literally thousands of times “as the HHS Director shall deem”.

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  11. Ten Megaton

    December 10th, 2012

    Had to pass it to find out how they forgot to screw us.

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  12. Nutjob

    December 10th, 2012

    This is bullshit just like Salazar, Sebelius, Chu, and the rest of the czars, they need to have congressional approval and pass an oversight committees recomendations.

    This is a dictatorship.

    Thumb up +2