Wednesday, April 6, 2011

So It Begins - Repealing Obamacare

The first repeal of Obamacare is on its way to the President's desk, and he will probably sign it. That's because the particular portion of the law was so odious that its repeal passed the Senate 87-12. I am referring, of course, to the requirement to submit some moronic IRS form for every business transaction over $600. This would have crippled businesses as they drowned in a sea of 1099s. The theory was that use of the form would have increased tax code compliance, so it was scored as reducing the budget deficit in favor of Obamacare.

But the real story is being missed in the media. The reason the repeal is so important is that it underscores the lie that Obamacare would actually reduce the national debt. It is akin to the so-called doctor fix, that threatened Medicare by massively reducing compensation to doctors. These gimmicks were used as pure propaganda to claim that the bill would reduce the deficit. Now that the doctor fix has been passed and the 1099 requirement is on its way to oblivion, a new scoring of Obamacare would definitely show that it massively increases the deficit.

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