From a recent PDN editorial:
A bill that would impose a 4-percent tax on premiums collected by health insurance companies that have qualifying certificates would, essentially, unfairly tax consumers and should be rejected.
Bill 20 was introduced by Sen. Dennis Rodriguez Jr., who says insurance companies with qualifying certificates have “realized a significant windfall,” but didn’t reduce insurance premium costs. He wants to tax those “windfalls” and use the money to pay the massive debt owed by Guam Memorial Hospital to vendors.
In essence, he wants to penalize health insurers who took part in a government program. But his bill wouldn’t even do that, because the costs would be passed on to the customers of those insurers. And many of these customers, who struggle with the cost of living, may end up being under-insured or stop paying for insurance entirely because of the passed-on costs.
And the gipper, from an early 1981 speech:
Prior to World War II, taxes were such that on the average we only had to work just a little over 1 month each year to pay our total Federal, State, and local tax bill. Today we have to work 4 months to pay that bill.
Some say shift the tax burden to business and industry, but business doesn’t pay taxes. Oh, don’t get the wrong idea. Business is being taxed, so much so that we’re being priced out of the world market. But business must pass its costs of operations — and that includes taxes — on to the customer in the price of the product. Only people pay taxes, all the taxes. Government just uses business in a kind of sneaky way to help collect the taxes. They’re hidden in the price; we aren’t aware of how much tax we actually pay.