Obama's New Healthcare Proposal: Raise Taxes
As House Democrats deliberate on a plan to require health insurance for most Americans, Obama proposes that Congress should pay for this health-care overhaul by disregarding the workers and targeting the wealthy to pick up the tab. The Obama Administration is stepping up its efforts to influence health-care legislation to avoid broad-based taxes and to instead, focus in on the Americans in the highest tax brackets.
According to a Bloomberg News article, Obama is also "urging lawmakers to reconsider limiting all tax deductions for Americans in the highest tax brackets." House Democrats are discussing Obama's bids to the new health-care reform policy and should have the new proposal outlined by August. "An outline of the plan obtained by Bloomberg News would require Americans to have insurance with some exceptions." Exemption can be expected for those that cannot find an affordable policy, while a tax penalty can be expected for those who opt to keep their individual health insurance policies- which will likely "move to a new federally operated exchange."
At yesterday's town hall meeting in Green Bay, WI, Obama had this to say about his plans for cutting healthcare cost by raising taxes "And I'll be honest, even with these savings, reform will require some additional up front resources. And that's why I've proposed that we scale back how much the highest-income Americans can deduct on their taxes."
While the United States budget deficit is on the brink of reaching $1.8 trillion this year, why is creating a public health plan to compete with private insurers is a "priority of Obama’s?" Democrats in Congress are pushing to completely "revamp the U.S. health-care system" by early fall with the goal of reducing costs- but with the budget deficit overflowing, this money will have to come from taxing those that are already content with their healthcare.