Well, as if we didn't already have enough things being taxed, Congress is now busy preparing to take action on a 'bipartisan' proposal to raise taxes on, of all things, flu vaccines. This is not a tax on the wealthy, but rather on a broad swath of Americans, or at least those who choose to be immunized against the flu. Is that not just bizarre? I mean, come on. We're now resorting to taxing flu vaccines? So apparently there is absolutely nothing we are willing to do to cut spending, and nothing we won't do when it comes to raising taxes. It's absolutely freakin insane!
Back in February, identical bills were introduced in both the House and Senate to add seasonal flu vaccines to the IRS code as being taxable. The legislation would exact a 75¢ per dose tax on any "vaccine against seasonal influenza." Given that the Centers for Disease Control projects that 135 million doses of flu vaccine will be used this year, the government's take on flu vaccines alone is over $100,000,000 per year. And that's more than enough to make our esteemed members of Congress, and apparently in both parties, to start seeing dollar signs.
Along with taxes on other vaccines, this tax would fund the Vaccine Injury Compensation Trust Fund. The fund is a "no-fault alternative to the traditional tort system for resolving vaccine injury claims that provides compensation to people found to be injured by certain vaccines." However, the fund is by no means in the same kind of trouble that other government "trust funds" are. What strikes me as being completely ridiculous is that we even have a, "Vaccine Injury Compensation Trust Fund." What kinda country is it that I'm living in today?
The balance in the fund, as of November 2012, was more than $3.5 billion. And as unbelievable as it may sound, since the program's inception in 1988, the fund has actually paid out $2.5 Billion in the 25 years that it has existed for cases involving all vaccines, not just the flu vaccine. This means the balance in the fund could conceivably last another 25 years with no further tax revenue. Which begs the question, why create a tax that is so obviously is not needed? This apparent addiction to raising taxes is getting a bit out of control. Don't you think?
The House bill (H.R. 475) was submitted on February 4, by Republican Jim Gerlach with Democrat Richard Neal co-sponsoring, and the Senate version (S. 391) was submitted by Democrat Max Baucus and co-sponsor Republican Orrin Hatch. The same legislation had been introduced in the 112th Congress just months ago. And can you believe it, both the House version died in committee, but the Senate version actually passed by 'unanimous consent' the day it was introduced. Is there no longer anyone on the side of 'We the People?'
Now, a posting on the Senate website reports that the Senate has reached an agreement on the current legislation. Although this flu season is winding down now, the tax could easily be in place by next winter if the House follows suit and the president signs it: "The Senate reached an agreement that if the Senate receives H.R.475 from the House of Representatives and the bill is identical to the text of which is at the desk, then the bill be read three times and the Senate proceed to a vote, at a time to be determined by the Majority Leader in consultation with the Minority Leader, with no intervening action or debate. H.R.475, a bill to amend the internal Revenue Code of 1986 to include vaccines against seasonal influenza within the definition of taxable vaccines."
Now I think it's pretty much a no-brainer that our tax-crazy president won't hesitate a second to sign this thing when, not if, it reaches his desk. After all, I think it's quite fair to say that Barry has never met a tax that he didn't want to make higher. As is the case with all government "trust funds," there is no actual 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 our HUGE $16.5 trillion national debt.
So what's wrong with picture? This is not why I vote for Republicans, so that they can then feel free to act like Democrats. Taxing flu vaccine, REALLY? As far as I'm concerned this is just one more reason not to get a flu shot. I stopped getting flu shots some ago anyway, because I have concerns about the safety. I just don't trust the folks who are telling me it's safe to have injected into my body. So this cockamamie tax won't effect me, but that's beside the point. With each passing day I become a little more convinced that the time may have finally arrived to at think start thinking about getting the Hell out of Dodge.
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