From the Palatine Tea Party...
(Palatine, Illinois) - In response to the letter Melissa Bean wrote to the constituents in district 8 dated April 16, 2010. We will respond to each of her statements Melissa Bean made based on emotion with factual responses where she stated the following:
"After deliberate review of the final legislation in relation to (the concerns of the people of the 8th district) I supported it (the Patient Protection and Affordable Care Act) because it will provide the health care security, affordability and choice families and businesses seek, while utilizing the private market-not a government takeover-and yielding a significant federal deficit reduction of $1.3 trillion..."
This new legislation requires taxes and fees to begin immediately. However, the new health insurance purchase subsidies for families making up to $88,000 are deferred, so that the first decade of "revenue" is used to pay for only 6 years of spending.
Worse yet this new legislation require corporations to deposit almost $8 Billion in higher ESTIMATED tax payments in 2014, making this money look like new revenue. However, this money will actually be RETURNED to these corporations the very next year because their actual tax rate will most likely be unchanged. This is what we call "fuzzy math".
We also can not forget that Social Security officially went broke last month. Meaning that it now pays OUT more than it takes IN. So it is FISCALLY IMPOSSIBLE to take $53 Billion from the Social Security Fund without RAISING Social Security taxes. Since there are millions of Americans (many making less than $200,000) who pay into the social security Trust Fund each year. This new legislation CLEARLY creates a "new tax". Namely, a HIGHER Social Security tax. It MUST do so, because our current Social Security program is broke and left with IOUs.