A free lunch

Yesterday, Democratic leaders in the U.S. House of Representatives released new proposed healthcare legislation that includes a government-run insurance plan and imposes a tax on the wealthiest Americans to help pay for it. This proposal will only cost $894 billion over 10 years according to the nonpartisan Congressional Budget Office.

“Is that all?” you say.

In reading the details of where the new money will come from to pay for this, you’ll learn that the proposed legislation includes a 5.4 percent surtax on individuals making more than $500,00 and couples making more than $1 million which, supposedly, would generate about $460 billion of new federal government tax receipts.

Before you and me, and other ordinary average citizens, echo sighs of relief that it will be those rich business executives, Hollywood actors and rock stars who will be paying this massive price tag, ask yourself what if it ends of costing more and who will our government tax next when they discover that their proposed wealth tax is not enough.

There’s no such thing as a free lunch.

Pax Domini sit semper vobiscum