The hidden reason Republicans are so eager to repeal Obamacare (YUGE tax cuts for the rich)

[CousinIT]

Repeal cuts taxes for millionaires, even if millions lose insurance.

Repealing Obamacare is a huge tax cut for the rich

This did not play a major overt public role in the 2009-’10 debate about the law, but the Affordable Care Act’s financing rests on a remarkably progressive base. That means that, as the Tax Policy Center has shown, repealing it would shower money on a remarkably small number of remarkably wealthy Americans.

The two big relevant taxes, according to the TPC’s Howard Gleckman, are “a 0.9 percent payroll surtax on earnings and a 3.8 percent tax on net investment income for individuals with incomes exceeding $200,000 ($250,000 for couples).” That payroll tax hike hits a reasonably broad swath of affluent individuals, but in a relatively minor way. The 3.8 percent tax on net investment income (money made from owning or selling stocks and other financial instruments rather than working), by contrast, is a pretty hefty tax, but one that falls overwhelmingly on the small number of people who have hundreds of thousands of dollars a year in investment income.

http://www.vox.com/policy-and-politics/2017/1/17/14263918/affordable-care-act-tax-cut?yptr=yahoo

[Angry Dragon]

1. SOP...........the repub way

[Skittles]

2. what's strange is

now they're acting like they thought they could do it and no one would notice

[Wellstone ruled]

3. It is called Pay Back

for your Campaign Support. Nothing else.