ObamaCare Redistributes Our Wealth to Obama’s Deep-Pocketed Backers
In addition to the general purpose of giving federal bureaucrats more control over the life and death of every American, ObamaCare also advances more specific objectives — such as spreading the wealth around from taxpayers to the unions and crony capitalists who finance Obama’s campaigns:
Facing questions from both parties in the Congress, the Obama Administration has now revealed how it has spent over $1.7 billion on part of the Obama health law, known as the Early Retiree Reinsurance Program.
This plan is intended to help companies pay the cost of health care for their early retirees, but lawmakers say it is wrongly benefiting companies like AT&T and General Electric, who have billions in profits on their bottom lines.
The list of beneficiaries of Comrade Obama’s largesse goes on for miles, but I’m pretty sure you won’t find your name on it. Unsurprisingly a union tops it, with a massive payoff of $206,798,086 going to the UAW. General Electric, which does not pay taxes, pulls in $36,607,818. Government Motors, which doesn’t pay taxes either, makes $19,002,669.
As Jimmie Bise notes at Hot Air,
Companies now have a crystal-clear example that if they pony up a few million dollars to Washington politicians, they can expect to see their money returned to them multiplied many times. Most of us who have watched Washington politics know this has been true for a while but I can’t recall a time when our government was this blatant about paying back its corporate and union supporters. If ever there was a time for the taxpayers to push back hard against the rent-seeking and paybacks, it’s now.
Obamunism is the corruption implicit in hypertrophied government taken to its logical conclusion. Either we reclaim our country and our principles, or we let both continue to rot until Barack Hussein Obama is nothing less than what we deserve for a president.
On a tip from Kevin R. Cross-posted at Moonbattery.