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Soak The Rich To Pay For Healthcare Print E-mail
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Saturday, 11 July 2009 07:06

 Here We Go Again - WASHINGTON  To pay for national healthcare, the politicians now want “rich” taxpayers to Congressman Charles B. Rangelpony-up $550 billion.  The income tax increases would be collected over the next 10 years to cover half of the foreseen cost says Representative Charles Rangel (D-NY.)  He is chairman of the powerful Ways and Means Committee charged with writing tax legislation.  According to The New York Times (07/10/09), Mr. Rangel believes the rest of the needed revenue would be derived by less spending on Medicare as well as reducing healthcare costs.  The ideas that the government could either, accurately project the cost of anything, or reduce the cost of anything else, are comical.  Putting my amusement aside, however, it is the “Robin

Hood” aspect that catches my attention.  All I can say is, if you are not rich, hold on to your wallet!    
“Soak the rich” was the slogan a hundred years ago and the cause was to put a federal income tax into the constitution.  It was typical class warfare pitting the likes of J.P. Morgan (banking tycoon), John D. Rockefeller (Standard Oil tycoon), and Andrew Carnegie (steel tycoon) against the rest of Americans.  The sloganeering and vilification worked as the 16th amendment was ratified in 1913.  It states “The Congress shall have power to lay and collect taxes on incomes, from whatever source derived, without apportionment among the several States, and without regard to any census or enumeration.”
Now, the government was constitutionally authorized to institute an income tax.  Thankfully, the politicians made certain it was paid for by the greedy rich.  Gee, didn’t that work out well?

New York Times article http://www.nytimes.com/2009/07/11/health/policy/11health.html?th&emc=th

The 16th Amendment http://www.gpoaccess.gov/constitution/pdf/con027.pdf

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Soak The Rich To Pay For Healthcare
 Here We Go Again - WASHINGTON  To pay for national healthcare, the politicians now want “rich” taxpayers to pony-up $550 billion.  The...

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