There is no more important public policy issue facing the United States than the imminent nationalization of the health care system by the Obamacare legislation. it is an oppressive nightmare from every relevant perspective. Despite the pitiful coverage afforded the substance of the legislation by the mainstream media, the American people have somehow gotten the picture. Even as the Democrats are forcing it through Congress by hook and by crook, the American people strongly oppose it.
One little noted provision of the legislation is Obamacare’s imposition of a new 3.9 percent Medicare payroll tax on capital gains and other investments. Larry Kudlow observes of this tax: “It will depress the economy, depress wages, and depress jobs.” (The bill would also increase the Medicare payroll tax by 0.9 percentage point to 2.35 percent on wages above $200,000 for individuals and $250,000 for married couples filing jointly.)
Within the political arena, there has been no more astute observer of the evils of the legislation than Wisconsin’s Rep. Paul Ryan. The video below of Rep. Ryan below comes from Larry Kudlow’s recent interview of Ryan on Kudlow’s CNBC show.
UPDATE: Michelle Malkin and Jeffrey Anderson have good columns on the CBO’s cost estimates for the legislation.
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