Tuesday, April 13, 2010

Tax shock is just start for Obamacare by Patrick McIlheran

Commentary by walford


Once companies started telling shareholders how much the tax break's repeal would cost, Congress grew irate. 'The new law is designed to expand coverage and bring down costs,' wrote one potentate, Rep. Henry Waxman (D-Calif.), so he ordered CEOs to show up with documentation as to why reality isn't obeying with Congre...ss' intentions.

...The 2,700-page bill will have other consequences that Congress neither foresees nor wants. Even had the bill been the epitome of caution, any nationalization of a sixth of the economy is bound to involve chaos theory.

We have recently seen that some politicians will over-ride popular will because they fancy themselves smarter than the people they purport to represent. They also fancy themselves to be so gifted that they will ignore warnings from experts who demonstrate that what they advocate will do exactly the opposite.

So what difference does it make what is popular anymore? We operate under an aristocracy of political pull.

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