Wednesday, April 14, 2010

The Taxman Cometh

As you tuck yourself into bed this Tax Day Eve and lay there staring at the ceiling already thinking ahead toward next year's Tax Day, worry not.  According to the Washington Examiner's Grace-Marie Turner, ObamaCare will make every day feel like April 15th.
New taxes on investments, taxes on medical supplies, taxes on drugs and health insurance, and taxes on you if you are just breathing… the list of taxes Americans will face just got a lot longer thanks to ObamaCare.
The health overhaul plan just enacted represents the largest tax hike in U.S. history - $569 billion over 10 years through a dizzying array of taxes and fees that promise to frustrate taxpayers at every turn.  ObamaCare will make every day feel like April 15th.
And despite President Obama’s campaign promise that no one making $250,000 or less would see a tax increase, Congress’ Joint Committee on Taxation confirms that these tax hikes will hit millions of middle- and working-class families who are struggling to make ends meet.
She goes on to explain how these different taxes to which we will soon become accustomed will affect our day to day lives.

And if, after all of these new taxes are put into place, you feel like you're still not quite contributing enough dough to Uncle Sam, worry not, for there is also talk of bringing a Value Added Tax (VAT) to the U.S. economy.  As Veronique de Rugy explains at REASON Magazine,
Widely used in Europe, the Value-Added Tax (VAT) has always seemed a non-starter in the United States. That may be changing given apparently insurmountable structural deficits and fear that the financial collapse of Greece could happen here if revenue isn't increased. These days, the VAT is being taken seriously even by pro-market conservatives and libertarians. A VAT is a consumption tax which is levied at each stage of production based on the value added to the product at that stage. 
So, along with the many, many, MANY other taxes we pay every day, we might also get to look forward to paying taxes on all of the products we consume.  They are going to get us coming and going.  Sheesh, it's like these people want to take from each according to their abilities and distribute it to each according to their needs. 

So, this April 15th, I hope that the Taxman is kind to you and yours, and remember:

Let me tell you
How it will be.
There's one for you,
Nineteen for me,

'Cause I'm the taxman.
Yeah, I'm the taxman.

Should five percent
Appear too small,
Be thankful I don't
Take it all.

'Cause I'm the taxman.
Yeah, I'm the taxman.

If you drive a car,
I'll tax the street.
If you drive to city,
I'll tax your seat.
If you get too cold,
I'll tax the heat.
If you take a walk,
I'll tax your feet.


'Cause I'm the taxman.
Yeah, I'm the taxman.

Don't ask me what I want it for,
(Uh-uh, Mr. Wilson.)
If you don't want to pay some more.
(Uh-uh, Mr. Heath.)

'Cause I'm the taxman.
Yeah, I'm the taxman.

And my advice to
Those who die.
Declare the pennies
On your eyes.

'Cause I'm the taxman.
Yeah, I'm the taxman,
And you're working for no one but me.

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