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View Diary: Abbreviated Pundit Round-up: Obamacare successes; misunderstanding Senate power grabs (131 comments)

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  •  The Abbreviated Pundi Round-up is (0+ / 0-)

    ... always the first thing I read in the morning. It sets the tone for my day in a sense. But it doesn't always answer my questions -- so I'm sending this out to all the knowledgeable people here on Dk.

    Recently a friend asked me where the money is coming from that will be used to offer the ObamaCare subsidies to low income people who apply.

    I knew that some of the money was supposed to have come from taxing certain medical devices, but that has been changed, right?

    So where does it come from, I mean besides our taxes? I don't know, but I would like to be able to answer that.


    •  here from NPR (1+ / 0-)
      Recommended by:
      MIT economist Jonathan Gruber, who helped develop the law, says about half the costs are offset by projected savings in Medicare payments to insurers and hospitals. Another quarter is offset by added taxes on medical-device makers and drug companies. [this still exists]

      "The other source of revenue is a tax increase on the wealthiest Americans," he says. "Those families with incomes above $250,000 a year will now have to pay more in Medicare payroll taxes."

      Those provisions actually make the bill a net positive for the federal budget, according to the nonpartisan Congressional Budget Office. By the CBO's accounting, Obamacare will produce a surplus. Gruber says the law will "actually lower the deficit by about $100 billion over the next decade and by $1 trillion in the decade after."

      "It is difficult to get a man to understand something, when his salary depends upon his not understanding it!" — Upton Sinclair

      by Greg Dworkin on Sat Nov 23, 2013 at 12:40:43 PM PST

      [ Parent ]

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