Repealing Obamacare Would Give A Tax Cut To Millionaires, Like Donald Trump
More than 20 million Americans could lose health insurance from the repeal of Obamacare. But not everybody would suffer. And among those who stand to gain are the richest people in America.
That’s because Obamacare didn’t just change insurance arrangements. It also raised taxes on corporations and individuals. Repealing the law would mean repealing those taxes, with significant benefits going to millionaires and multimillionaires. President-elect Donald Trump might even be one of them.
When Democrats sat down to craft what became the Affordable Care Act, they committed to creating a fiscally sound program ― for every new dollar in government spending, they pledged, they would find at least one dollar of new revenue or one dollar of lower spending somewhere else. And Democrats were good to their word. They wrote legislation that, according to the Congressional Budget Office, has actually resulted in net savings for the federal treasury.
To achieve this goal, Obamacare’s architects drew on several sources of money. A huge chunk is coming from hospitals, drug makers and other parts of the health care industry in the form of new fees or reductions in the compensation these companies get from Medicare.
Read More: http://www.huffingtonpost.com/entry/obamacare-tax-cut-millionaires_us_5841de41e4b09e21702e96b9 _______________________________________________________ Steal from the poor to give to the rich. Sure, let's make America great again.
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