Friday, February 5, 2010

Senator Kay Hagan's Disturbing Economic Philosophy

Senator Kay Hagan gave an interview with the Kernersville News in which she articulated her economic philosophy. Folks it is very disturbing.


Senator Hagan bemoaned the uncertainty of the democrat’s health care legislation. She believes that the public is misinformed on the specifics of the bill:

"One misconception about healthcare is that people are concerned about the cost and the debt. I want to assure people that the cost that was identified, the increases were paid for," Hagan said.

"This was a piece of legislation where anything we put in was paid for by insurance companies, pharmaceuticals or levies. What we put in place would affect the debt in a long-term, positive way. We would see a $132 billion reduction in deficit over the first 10 years and a $1.3 trillion reduction in the 10 years after that."


Notice that she plans on paying for this monstrosity by demonizing and extorting money from targeted industries. I believe Senator Hagan is a student of Saul Alinsky.

She omitted how they really plan on paying for socialized health care, as stated here in The Hill:

“CBO Director Doug Elmendorf presented Reid with this preliminary cost estimate in a letter Saturday.Those costs are more than offset during the 10-year budget period by $483 billion worth of spending reductions in Medicare and $614 billion generated from an excise tax on high-cost health insurance plans, taxes on healthcare companies, penalty fees paid by employers who fail to offer insurance coverage and individuals who fail to purchase it and other tax effects of the bill.

The bill would require nearly all legal U.S. residents to obtain health coverage, extend Medicaid benefits to everyone earning up to 133 percent of the federal poverty level and provide subsidies on a sliding scale to people earning between 133 percent and 400 percent of the federal poverty level.”


So Senator Kay Hagan not only extorts money from companies; but those who fail to purchase or offer health insurance are to be penalized to the full extent of the law. That means insurance is mandatory for everyone. I would like to know where in the Constitution; Senator Kay Hagan gets the authority to fine, and throw people in jail for not buying a product.

The Congressional Budget Office also says this about the assertions of Senator Hagan:

“As the budget office has throughout the year, it emphasizes that this will only occur if Congress allows those cuts and tax hikes to take full effect and expresses skepticism that they will. “These longer-term calculations assume that the provisions are enacted and remain unchanged throughout the next two decades, which is often not the case for major legislation,” the letter says.”


We all know the outcome of that.

Senator Hagan gave special exemptions for small businesses. They are to receive a sliding scale depending on the number of employees. They also are to receive a handsome tax credit for joining a STATE EXCHANGE:

“Tax-exempt small businesses meeting these requirements are eligible for tax credits of up to 25 percent of their contribution. In 2014 and beyond, eligible employers who purchase coverage through the State Exchange can receive a tax credit for two years of up to 50 percent of their contribution. Tax-exempt small businesses meeting these requirements are eligible for tax credits of up to 35 percent of their contribution.”


She just can’t wait to get people into the “system”. If you have doubts that Senator Kay Hagan isn't a statist, then you are not paying attention. This woman wants to dictate how businesses operate and how people shall live.

Again, in her interview with the Kernersville News, she states that she is fiscally conservative, because she was chairman of the state budget and had to balance the budget every year; that meant accounting for every dollar. Well of course you did! But there is one big difference from North Carolina’s state capitol and Washington D.C.: YOU DIDN’T HAVE A PRINTING PRESS IN THE BASEMENT.

Senator Hagan remarks on the debt ceiling that was raised:

"You have to put the bill calling for an increase in our debt ceiling into perspective," Hagan said. "It's like putting something on a credit card and having to pay that off.


Increasing the debt ceiling is not authorizing new spending; it is ensuring we have the capacity to pay for things we have already spent money on.”

Wow! She’s right...it is not authorizing new spending. It is paying for all the crap you guys doled out the past year. And you’re going to have to raise it again in the fall. Unbelievable!

I say it’s time to take the credit card away from this spoiled brat. I wonder if she would have spent her $17 million in assets like she’s doing with the taxpayer’s money. That answer should be self-evident; otherwise she would be a pauper.

Senator Kay Hagan is a perfect example why we need to repeal the 17th amendment. Or at least have North Carolina pass a law to recall her.

Source:

http://hagan.senate.gov/?p=news&id=451

http://thehill.com/homenews/senate/73079-cbo-health-bill-spends-871b-reduces-deficit-by-132b


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