Senate's Proposed Health Care Tax Isn't Aimed at the Rich, It's Aimed at You
There is a middle-class tax time bomb ticking in the Senate’s version of President Obama’s effort to reform health care.
The bill that passed the Senate with such fanfare on Christmas Eve would impose a confiscatory 40 percent excise tax on so-called Cadillac health plans, which are popularly viewed as over-the-top plans held only by the very wealthy. 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.
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