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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsEvery chance they get: GOP's Obamacare replacement plan would lower taxes for the rich
The Republican bill to repeal and replace Obamacare contains some goodies for the wealthy.
The legislation, unveiled on Monday, would eliminate two surcharges on the rich that are being levied to help pay for Obamacare subsidies and other provisions. The taxes would end after this year.
Under the Affordable Care Act, single taxpayers with incomes above $200,000 and couples making more than $250,000 annually have had to pay an additional 0.9% Medicare payroll tax on the amount they earn above these thresholds. These taxpayers may also be hit with a tax surcharge of 3.8% on investment income above those thresholds. These taxes have been in place since 2013.
Ending Obamacare would mean that nearly everyone in the Top 1% who earn more than $774,000 a year, would enjoy a hefty tax cut, averaging $33,000, according to a report published in December by the non-partisan Tax Policy Center. Those in the Top 0.1% would get an average tax cut of about $197,000.
The legislation, unveiled on Monday, would eliminate two surcharges on the rich that are being levied to help pay for Obamacare subsidies and other provisions. The taxes would end after this year.
Under the Affordable Care Act, single taxpayers with incomes above $200,000 and couples making more than $250,000 annually have had to pay an additional 0.9% Medicare payroll tax on the amount they earn above these thresholds. These taxpayers may also be hit with a tax surcharge of 3.8% on investment income above those thresholds. These taxes have been in place since 2013.
Ending Obamacare would mean that nearly everyone in the Top 1% who earn more than $774,000 a year, would enjoy a hefty tax cut, averaging $33,000, according to a report published in December by the non-partisan Tax Policy Center. Those in the Top 0.1% would get an average tax cut of about $197,000.
http://money.cnn.com/2017/03/07/news/economy/obamacare-replacement-taxes-wealthy/index.html
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Every chance they get: GOP's Obamacare replacement plan would lower taxes for the rich (Original Post)
spanone
Mar 2017
OP
dalton99a
(81,565 posts)1. That is their primary motivation in this.
Lanius
(599 posts)2. Mandate shmandate. IMO, the anti-Obamacare movement was mostly about wealthy people who were
angry that they had to pay a bit more in taxes to help ensure health care for all. And the Republicans, being the party for the rich, answered the call.
wiggs
(7,816 posts)3. So why can't dems go on the offensive for once tying
this effort to cut taxes for the rich TOGETHER WITH...JUST ABOUT EVERY OTHER ACTION THEY'VE TAKEN OVER THE LAST 40 YEARS? They seem willing to debate each isolated point as if it's unrelated to other ACA points and the pathetic history of gop legislation and positions?