Saturday, June 14, 2014

Are You Next?

It seems hardly a week goes by without more Obamacare surprises. Pelosi was honest in her statement, "We have to pass the law to know what is in it".  

This latest revelation will strike many as, "So what?"

But the underlying implications are much more sinister.
The Internal Revenue Service (IRS) could come out with regulations affecting the pay of employees at health insurance companies any day now. The regulations would implement Section 162(m)(6) of the Internal Revenue Code (IRC).
The drafters of the Patient Protection and Affordable Care Act (PPACA) added the provision in an effort to control what some observers argued were costly, unreasonable executive pay packages.
IRC Section 162(m)(6) prohibits a publicly traded or privately held health insurer from deducting more than $500,000 in compensation and deferred compensation for any one officer, director or employee. The IRS put out draft regulations in April 2013.
Some will say that insurance company executives are paid too much, and they are entitled to that opinion. But do you really want a $15/hour (new) minimum "liveable" wage person running a multi-billion dollar company?
Consider what happens when a community organizer with no real world, practical experience is allowed to run a multi-TRILLION dollar entity.
If the government can dictate how much insurance company execs make, who is next?
And why limit government control to just executives?
Going forward if you want an above average lifestyle, free housing and transportation plus your own "posse", you don't need to be competent. All you need is to be elected president.
Of course you run the risk of leaving office dead broke ...............
blog comments powered by Disqus