Here's a good one to shake your head. A bipartisan group of congressional hacks have decided to add a .75-cent flu
vaccine tax to help fund the Vaccine Injury Compensation Trust Fund, which they admit is no where near financial collapse as are Medicare and social security with $3.5B in the bank. And given the fund has paid out $2.5B since its inception in 1988, that means that conceivably the amount it has banked can last another 25 years without a problem.
Oh no, the savants in Washington figure that with 135M Americans expected to receive flu injections this year (me included), that it could pilfer an additional $100M even though the trust fund is not on the verge of insolvency.
So why add a tax that will take from the working middle class? Because it's an easy and simple tax they can get away with without incurring the wrath of the American people. It's a service tax or much like a sales tax. You buy, you pay.
But since the VICTF is not bankrupt, are we to believe the entire $100M will flow into its coffers? Or will the additional funds be diverted to some other government project or favored earmarks never to be seen again?
That is the $100M question.
But wait, since this is all about funding a government trust fund, I thought there wasn't such a thing as a government trust fun? You know, like social security, etc.
So writes Jeryl Bier, "As is the case with all government 'trust funds,' there is no cash set aside to pay out claims. According to the November 2012 report on the vaccine trust, the $3.5 billion balance is invested in 'US Treasury Securities.' In other words, financing a portion of the $16.5 trillion national debt."
And so, folks, there you have it. Congressional brilliance at work to siphon off more money.....ever more money from you and me.
And these are the same folks who voted for and against ObamaCare, and are now working to exempt Congress and their aides from the dreaded and costly effects of ObamaCare.
Help us, Lord!!!