After calling Republicans claims that ‘Cap and Trade’ Legislation would raise the cost of energy for the average family by $1,700 a year “false”, an Obama Administration internal report has come to the same conclusion. This would be the equivalent to raising personal taxes by 15%. A copy of the report can be seen here. Democrats insist that the legislation is necessary in order to save the environment, regardless the cost. Some Americans would argue it would place an unnecessary financial burden on them.
In other tax increase related news, Democrat Senator Jay Rockerfeller voiced concern over the finance committee’s proposed health-care legislation. Rockerfeller stated that it would be a ‘Big Big tax on the middle class’. In keeping with Obama’s promise to make the government run health-care plan deficit neutral, Democrat Senator Baucus is proposing a 35% exercise tax on high-cost plans. Perhaps, the Senator didn’t listen to the rest of the speech when the President specifically stated that the plan would be funded by premiums.
USA Today is reporting that the average employer-provided health-care plan rose by 5% in 2008. However, the Boston Globe is reporting that the most expensive health-care insurance in the country is in Massachusetts and their residents can expect to see an increase of 10%. The paper continues to state:
The higher insurance costs undermine a key tenet of the state’s landmark health care law passed two years ago, as well as President Obama’s effort to overhaul health care. In addition to mandating insurance for most residents, the Massachusetts bill sought to rein in health care costs. With Washington looking to the Massachusetts experience, fears about higher costs have become a stumbling block to passing a national health care bill.
FBI agents are crediting the tenents of the Patriot Act for uncovering the lastest planning of a Madrid style terrorist attack reported to take place in New York. FBI agents uncovered backpacks and cellphones in a raid on an apartment in Queens. Zazi, of Aurora, Colorado, a suspect in the case, was stopped on the George Washington Bridge and his car searched. Agents found documents and papers on bomb-making and bombs in his vehicle. Zazi has professed his innocence. In keeping with the Obama Administration recent policy on prolonged detainment, Zazi and other suspects were briefly detained and then released. Let’s hope Obama ensured that their Miranda Rights were read. We wouldn’t want to risk our image with the rest of the world. New York residents be damned.
And that’s your news round-up for today.
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