Health Care Bill: Expand Medicare, Tax "The Rich"

Given the tax the rich pace of the Democrats, ever wonder when it is we run out of them here? It won't be long my friends. Public option? Check. And forget about actually trying to get rich if you aren't already. The first thing socialist plans do is flatten out and stagnate the money pool. No growth for your children, my friends. But, they can always get by with increased benefits aimed above the poverty line if we can only bleed the rich just enough - say until they're broke like the rest of us. It's taxxx time.

To make up some of the reduced saving by going with the less robust public option, the bill will expand Medicaid to cover people making below 150% of the federal poverty level (FPL) instead of 133%. It is much cheaper to cover individuals with government insurance programs (Medicare or Medicaid) than through private insurance.

The bill will not contain the excise tax on employer provided health insurance found in the Senate Finance Committee bill. Most of the money to pay for the bill will come from savings from Medicare and Medicaid and a new “millionaire’s tax.” It will be a surtax on individuals making over $500,000 and couples making over a million a year. This should create a real showdown during the conference committee. A large number of House Democrats are strongly against the tax on health insurance benefits while many senators are against the new “millionaire’s tax.”

Comments

[Mad Monica]

I figure I'm gonna be listed as rich any day now. After all, I'm not on food stamps or nothing.

[Tully]

Most of the money to pay for the bill will come from savings from slashing Medicare and Medicaid ...

Fixed.

[Kevin]

Can someone please explain to me how increasing the number of people covered under Medicare and Medicaid fixes the health care problem? I mean, isn’t the fact that these entitlements are already driving the government into bankruptcy one of the driving factors behind reform?

[Allen G]

@Kevin: SHHHHH! You weren't supposed to notice that...