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View Diary: We CAN pay for health care (39 comments)

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  •  Includes funds from Medicare, Medicaid, CHIP (0+ / 0-)

    Establishes the USNHC Trust Fund to finance the Program with amounts deposited: (1) from existing sources of government revenues for health care; (2) by increasing personal income taxes on the top 5% income earners; (3) by instituting a progressive excise tax on payroll and self-employment income; and (4) by instituting a small tax on stock and bond transactions. Transfers and appropriates to carry out this Act amounts that would have been appropriated for federal public health care programs, including Medicare, Medicaid, and the State Children's Health Insurance Program.

    •  Yes, the 2 tax increases are only part (1+ / 0-)
      Recommended by:
      Justanothernyer

      of the funding proposal.  But it is undisputable that HR 676 proposes (1) to raise income taxes on those earning above $154,000 a year (the top 5%)(item 2 in your block quote) and (2) proposes to raise payroll taxes on all workers -- more at the top than the bottom, true, but it proposes a payroll tax increase on all workers (item 3 in your block quote).  Those two tax increases, which clearly and indisputably would raise taxes on people earning below $250,000, are two necessary components to funding HR 676.  If you take those two tax increases out, you would need to find some other significant source of revenue.  

      Those two tax increases are directly contrary to Obama's express and repeated promise that, if you earn less than $250,000 "you will not see your taxes increase one penny."  Whether or not those two tax increases are good policy, HR 676 would be a huge political problem for Obama.  It would be, in his first year in office, a direct repudiation of his most visible and repeated promise, made throughout the campaign and made again during this most recent address to Congress.  

      •  Absolutely Correct.... (1+ / 0-)
        Recommended by:
        coffeetalk

        In the long run, that was an incredibly foolish promise for Obama to make.  In only three weeks, households with an average household income of $30,000 will be shocked to learn Obama has already violated the promise when the cigarette tax increases 156% to pay for the SCHIP expansion.  Then will come the broken promises you cite.  All of them will haunt him in 2012...much like they did George H.W. Bush in 1992, and we know what happened to him.

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