The problem I see in this stimulus bill is the COBRA/state continuation element of the package. Far from stimulating the economy, it will create a tremendous burden for already strapped small business by requiring a 65% participation in COBRA premium, retroactive to last September 1st. (Aren't ex post facto laws unconstitutional? U. S. Constitution, Article 1, Section 9. I know it is in regard to criminal law. I just don't see how any punitive ex post facto law is moral.)
Granted, an employer may offset the premium with a credit against his payroll taxes, but every company I know is looking for income and sales, not costs and credits. In addition, I believe that insurance premiums are paid on a monthly basis, in advance, whereas a payroll tax credit would be quarterly, after the fact. Nice of Congress to create debt for businesses. Of course, they are the experts.
Oh, has anyone examined the effect this payroll tax short fall will create on the Ponzi scheme we call Social Security? Prior to the stimulus bill, we were robbing Peter to pay Paul. Now we're robbing both of them.
This is bad legislation, poorly conceived, poorly written, and soon to be poorly administered.
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3 comments:
You have got to be kidding! How can anyone think this is right? Can this be repealed?
hey everone know that small business's have all the money, whats the problem? We all have a nice big bankroll to work with.
Really, are these people retarded? It will be interesting to see how many of us survive the next 4 years, and how high unemployment will be then.
You have GOT to be kidding me...
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