Month: May 2017

Trumpcare eliminates $600 billion in taxes. “When you take all that money out of the system, something has to give. And in the case of the various iterations of Affordable Care Act repeal, the thing that gives is the quality of health insurance provided to Americans with below-average incomes or above-average health needs.

• It eliminates a 3.8 percent tax that applied to capital gains, dividend, and interest income for families with $250,000 or more in income ($125,000 for singles).
• It eliminates a 0.9 percent tax on wage income in excess of $250,000 a year ($200,000 for unmarried people).
• It eliminates taxes on health insurance companies, pharmaceutical companies, and medical device manufacturers.”  More.

“The Congressional Budget Office estimated in March that 24 million people would lose health insurance if the AHCA were to pass, and the changes made to the bill in the ensuing two months have only made it less generous and more likely to jeopardize coverage. And because the bill substantially weakens regulations for both individual and employer plans, millions of people who still get insurance will see the extent of their coverage shrink, and see themselves forced to pay out of pocket for expensive procedures that would otherwise be covered.” More …