Wednesday, January 06, 2010
Obama drops bomb on middle class with health care tax support
by Larry Geller
Increasingly, Congress’ idea of health care reform seems to be a health hazard itself. Today’s revelation will not please anyone but the insurance/drug industry capos and the politicians they pay off.
In a meeting at the White House, Obama expressed his preference for the insurance tax contained in the Senate's health overhaul bill, but largely opposed by House Democrats and organized labor, Democratic aides said. The aides spoke on condition of anonymity because the meeting was private. [AP sources: Obama backs high-end health plan tax, 1/6/2010]
As a New York Times / Alternet article points out, the Senate's Proposed Health Care Tax Isn't Aimed at the Rich, It's Aimed at You.
…In fact, it’s a tax that in a few years will hammer millions of middle-class policyholders, forcing them to scale back their access to medical care.
Which is exactly what the tax is designed to do.
The tax would kick in on plans exceeding $23,000 annually for family coverage and $8,500 for individuals, starting in 2013. In the first year it would affect relatively few people in the middle class. But because of the steadily rising costs of health care in the U.S., more and more plans would reach the taxation threshold each year.
Within three years of its implementation, according to the Congressional Budget Office, the tax would apply to nearly 20 percent of all workers with employer-provided health coverage in the country, affecting some 31 million people. Within six years, according to Congress’s Joint Committee on Taxation, the tax would reach a fifth of all households earning between $50,000 and $75,000 annually. Those families can hardly be considered very wealthy.
Check out the articles linked above. Google. Stay informed. Do something.