Betraying The American People: Part II
Betraying The American People: Part II
To the Editor:
Obama is destroying capitalism, replacing it with socialism and redistributing wealth. His spending will create an economic catastrophe for our children and future generations.
His health care plan will add over $1 trillion to next yearâs budget. Taxing the rich is his plan for paying for this disaster. The top one percent of wage earners pay 20 percent of taxes; the top 50 percent pay 95 percent. The rich will be âtaxed-out,â and the middle class will then be taxed. A value tax on everything Americans buy and taxing employer-provided health benefits as income is also being discussed.
He will attempt to cover 45 million uninsured. This includes 7 to 10 million illegals, 10 million Americans between the ages of 18 and 34 who are not concerned with health care, several million already eligible for health care but who havenât applied, millions between jobs, and millions who earn enough to pay as they go. If this plan passes, 20 to 30 million will remain uninsured, and over 20 million Americans, who are pleased with their present care, will have to give it up. He will destroy a great medical system to cover a few million people. Many people believe that the result will be only government health care despite democratic promises to the contrary.
Our present monthly interest payment, excluding what will be added with health care and cap-and-trade, is $26 billion. Thatâs over $300 billion each year sent to our creditors (China and Russia) instead of being used for national defense, education, and infrastructure. This $300 billion interest payment could fully fund the Departments of Commerce ($8.1 billion), Education ($68 billion), Homeland Security ($42.3 billion), Housing and Urban Development ($52.3 billion), Energy ($23.2 billion), Justice ($25 billion), and Labor ($49.6 billion) for one year. Our yearly interest payment will soar to a projected $806 billion by 2019. This money canât come from taxing the rich. Last yearâs total profits of Exxon Mobil ($45.2 billion), General Electric ($17.41 billion), Walmart ($12.7 billion), and IBM ($12.3 billion) totaled $87.61 billion. Taxing these profits at 100 percent wouldnât be enough to pay one-third of the 2019 annual interest payment, let alone the principal. Each America n familyâs share of our present $11 trillion debt is $116,000. Our children will be working mainly to pay the debts Obama has amassed. They will be slaves to our debt holders and will not have the opportunity to succeed in America that we have enjoyed. (The above figures can be found in Glen Beckâs book Common Sense.)
Call Murphy, Leiberman and Dodd (Senator Countrywide) at 202-224-3121. Tell them to vote No on cap-and-trade and health care.
Notes: Obama has now put into place 33 czars who answer only to him.
His health care plan is based on that of Massachusetts. Today, they removed legal aliens from the plan because of cost overrides.
Stan Rajczewski, Jr
21 Bennettâs Bridge Road, Sandy Hook                       July 15, 2009