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June 8, 2012
Democrats feeling the heat from ObamaCare taxes
Thirty-seven House Democrats have voted with House Republicans to repeal the 2.3 percent ObamaCare medical device tax, which goes into effect next January if not repealed or struck down with the rest of the bill by the Supreme Court.
The Hill reports that the House approved a bill by 270-146 that would cover the estimated $29 billion in lost tax revenue by requiring overpayments of insurance subsidies to be "recaptured," yet another element of ObamaCare's byzantine redistribution system.
The Obama administration, which has threatened a veto, almost laughably said the bill would raise taxes on "middle-class and low-income families." Really? Returning government overpayments is a tax increase?
The medical device tax is an excise tax, meaning that it comes right off top-line revenue, regardless of the maker's bottom-line profit, and it will do nothing to help innovation or improve health care, other than soak a few deep pockets.
As Chair of the House Ways and Means Committee, Rep. Dave Camp (R-Mich.) observes, "Plain and simple, this tax hike is a job killer and it must be repealed."
Senators Amy Kobluchar (D-Minn.) and Bob Casey (D-Penn.), both of whom are up for reelection this year and have major device makers in their states, voted to pass ObamaCare but now find themselves supporting the Republican tax repeal effort.
On the other hand is Senator John Kerry (D-Mass.), who plans to run again in 2014, commenting that in negotiating the healthcare law "We worked out a compromise with them, and people signed onto the compromise," in effect saying "too bad" to his home-state manufacturers.
Kerry and the rest of the Democrats are wary of any effort to chip away at their healthcare masterpiece, with Senator Harry Reid rhetorically asking
Perhaps it is news to Senator Reid that the Hill also reports that a new CBS poll says that "Nearly seven in 10 Americans hope the Supreme Court will decide against all or part of President Obama's healthcare reform law."
House Speaker John Boehner defines the House mission:
House Majority Leader Eric Cantor (R-Va.) said "don't expect this bill to reach the President's desk in a timely fashion," referring to it's likely demise in the Senate.
The dour Mr. Reid's retort was "the answer is I'm not looking forward to doing this."
Senator Reid also got himself in the news on Thursday for complaining once again about the Republicans' use of the filibuster:
If by some chance Republicans take control of the Senate and the White House this November, we shall see if Mr. Reid is still singing the same tired old tune.
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