Review
A very informative article on the taxes as required for health care reform from a right leaning publication that is presented in a unbiased manner.
Apparently Reid has woken up to the fact that the Senate finance committee’s excise tax on so-called “Cadillac” health insurance plans (i.e., family plans worth more than $21,000) has a couple of serious drawbacks.
The second tax under consideration would keep the Medicare tax at 1.45 percent for employers and employees but would subject investment income to the tax for families earning more than $250,000. According to Bloomberg, White House Budget Director Peter Orszag says this proposal is the one that’s “in play.” One likely reason is that it’s a little harder for opponents to peg it as a tax increase because it isn’t a rate increase. Another likely reason is that it raises a lot more money: $19 billion in 2012, according to Citizens for Tax Justice, and $160 billion through 2019.
I support this kind of tax for it will not tax those who are struggling to live or those who have high end (Cadillac) health plans mainly due to their jobs ie, police, first responders, some construction workers.
Is it possible that the Senate is now considering correct revenue streams to fund the health care reforms, that I am sure the republicans will fight but are a must.