Trumpcare: Welfare for the rich
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Posted by MilesCity.com Webmaster (+8062) 10 days ago
Trumpcare is what you thought: Welfare for the rich

Big shocker: Tax cut for the 1%, number of uninsured will top 50 million

Let’s be honest: There aren’t many surprises in the hotly awaited Congressional Budget Office “score” for President Donald Trump’s health care bill.

The CBO and the Joint Committee on Taxation — both controlled by Republicans, by the way — said Trumpcare will modestly cut the federal deficit by shifting about $1 trillion of wealth from working-class and middle-class Americans to families making more than $250,000 annually, who pay most of the taxes on which President Barack Obama’s Affordable Care Act relies.

That was the point of the exercise all along. Along the way, 24 million people lose health insurance, leaving a population the size of California, Illinois, Vermont and Wyoming among the 52 million uninsured. Or — since Trump’s backers believe states, not people, have claim on our moral perspective — a population equal to the 24 least-populous states.

Plus the District of Columbia.

Plus nearly three million people, or about as many as the gap between the number of people who voted for Trump’s opponent and the lower number for Trump himself.

But families who make more than $250,000 will pay a whole 0.9% less of their income in taxes, and 3.8 percentage points less in tax on investment income, which already benefits from lower tax rates than working people’s incomes.

And this is before the upcoming tax holiday on offshore profits, which will be a huge gift to beneficiaries of share buybacks. Very few of those will use the money to replace the Medicaid coverage they will lose under Trumpcare.

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Read More: http://www.marketwatch.co...2017-03-14
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Posted by Amorette Allison (+8412) 10 days ago
It's brilliant. Poor people will die for lack of accessible healthcare and won't draw on their Social Security so the hyper-rich can raid that while destroying our country.
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