Say what? The Washington Examiner reports that Democrats are proposing to exempt unionized workers from the massive tax hike needed to fund government health care:With cost estimates already as high as $1.6 trillion, Senate Finance Committee Chairman Max Baucus, D-Mont., has proposed paying for the bill in part by taxing health care benefits for workers who earn more than $100,000, or $200,000 for married couples, according to those familiar with the discussions. Baucus is also weighing a tax based on the value of health care benefits that exceed a yet-to-be determined cap. A tax on benefits that exceed the cap by a mere $3,000 could amount to $750 in taxes annually for a worker who earns as little as $34,000, say experts. But those … [Read more...]
Political Fault Lines Clearly Shifting Around Federal Bailout Bill Debate
One thing that's clear is the Congressional bailout debates have shifted political fault lines in unusual ways. The Denver Post highlights the odd split in Colorado's Congressional delegation: Mark Udall, John Salazar, Doug Lamborn, and Marilyn Musgrave against the bill vs. Tom Tancredo, Diana Degette, and Ed Perlmutter for it. Then, there's my two favorite fiscally conservative national think tanks. Co-authoring an issue brief for the Heritage Foundation, former Attorney General Ed Meese says the bailout bill was "vital and acceptable," while Cato Institute scholar Jagadeesh Ghokale notes:Overall, it's not a pretty picture--but score one for supporters of the free market who insist on allowing market reorganization of the financial … [Read more...]