Get ready, Obama’s coming after your money.

” June 12 (Bloomberg) — Health-care overhaul legislation being drafted by House Democrats will include $600 billion in tax increases and $400 billion in cuts to Medicare and Medicaid, Ways and Means Committee Chairman Charles Rangel said.

Democrats will work on the bill’s details next week as they struggle through “what kind of heartburn” it will cause to agree on how to pay for revamping the health-care system, Rangel, a New York Democrat, said today. The measure’s cost is reaching well beyond the $634 billion President Barack Obama proposed in his budget request to Congress as a 10-year down payment for the policy changes.

Asked whether the cost of a health-care overhaul would be more than $1 trillion over a decade, Rangel said, “the answer is yes.” Some Senate Republicans, including Senator Orrin Hatch of Utah, say the costs will likely exceed $1.5 trillion.

House Democrats plan to release their legislation next week. Obama is working with Congress to get legislation to his desk by October.

Democrats in the House and Senate are crafting legislation that would require all Americans to have health insurance, prohibit insurers from refusing to cover pre-existing conditions and place other restrictions on the industry.

Online Exchanges

The legislation would establish online exchanges for individuals to purchase insurance and would require employers to provide health benefits to workers or pay a penalty. Some Democrats also are backing creation of a government-run program to expand coverage to the uninsured. The issue is the subject of bipartisan negotiations with Republican who oppose the so-called public option.

Rangel said Democrats are still considering options for tax increases that might be in the bill, including a possible end to the income tax exclusion for employer-paid health benefits.”

If Americans allow this to happen, then they deserve what they get. Let the Democrats, and the RINOS who enable them get away with this and there is no stopping what where they will go from here. You don’t have to be a math genius to know that this plan will bankrupt small businesses and hit workers like you and I with more taxes we can little afford.

It’s time to get on the phones, the faxes and the radio and let congress know that this is unacceptable. It’s time to let the people know that they about to get fleeced.

It’s time to fire up the Tax Parties and get moving!