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| "I told you. I got this." |
Did you know Obama's health care bill contained a $20 billion a year tax on the richest Americans? I didn't until I stumbled onto a mention of this the other day, although writing about politics is my life and I knew enough to be angry at the gutting of a national public option. I asked a dozen other friends, half of whom work in health care or health care policy and most of whom are fellow political junkies. None of them knew either. If those who follow these issues intensely don't know about something that all of us would cheer as a step toward getting the wealthiest to pay their fair share, most American voters sure aren't going to know either.
The tax supports Medicare and low-income health care subsidies. Beginning in 2013, it will bring in $210 billion over 10 years by charging households that make over $250,000 a year 3.8% on everything over that amount. The provision also applies to investment and dividend income, a key precedent toward ensuring that billionaires pay at least the same share of taxes as self-employed carpenters. It got some modest coverage when it passed, and accountants certainly know about it. But the rest of us don't, and that makes me mad.
So apparently while everybody is complaining that the President is being manipulated by the Republicans, and claiming that he wasted all of his political capital on the Health Care bill, he has been sitting on this information all along.
I think I know exactly why Obama has not pounded his chest about this increased tax on the top wage earners in this country. And I also think I have a clearer understanding as to why the Republicans are so determined to repeal the health care bill.
Raising the Medicare tax on wages will raise an estimated $87 billion over 10 years. But combined with a new Medicare tax on investment income, the revenue collected will jump to an estimated $210 billion, making it the biggest single revenue raiser to help pay for health reform.
Our President can be pretty damn cagey sometimes can't he?
That's what I love about him, he is so clever. I would never want to play poker with the man. He lets the repugs think they are getting what they want upfront, but he is giving it to them from behind and they don't always know it.
ReplyDeleteWow.
ReplyDeleteThat's the best news of the day! The 1% and the almost 1% have made out like bandits in this country. It's about time they paid their fair share!
ReplyDeleteAll I care about is the fact that my insurance cost increased and my employer constantly complains about the bill.
ReplyDeleteOh and btw, you just made me hate ninjas.
Now we have to make sure he's around next term, and that he has a supportive Congress. Maybe single payer is not dead yet! And maybe, just maybe, we can get rid of the Bush tax breaks for the millionaires as well.
ReplyDeleteYes, Gryphen, our President is one of the most intelligent people who has been elected in this country.
ReplyDeleteWhen most of the Congress is playing checkers, he is winning a very intricate chess game, in order to help the country in the long term.
We're so used to the "stupid" pols that have been in charge for so long, we are surprised by the many good things this man is putting in place.
I love printing out all his accomplishments so far and sharing with people who are not aware because the media doesn't report these accomplishments.
I don't think the politicians even bothered to read the Health Care reform act. Palin didn't for sure, since she spewed the "death panel" lie to scare the elderly population & hurt the economy so it would make Pres. Obama look bad.
The ignorance is overwhelming and thanks to you Gryph, for speaking up to the ignorance.
Just Google the Presidents accomplishments so far and you'll find a lengthily list.
Damn cagey. That's why 'progressives' should stfu and stop whining about presidential 'caving'. Remember. POTUS was brought up politically in Chicago, IL., a place that makes Louisiana or Texas politics look like child's play.
ReplyDelete...and, what JEAN said...
ReplyDeleteTo Anonymous 5:26Am
ReplyDeleteDon't blame the President or your employer for the rate hike on your health ins.
Blame the Insurance company!
We would have single payer and will when we get the insurance owned congress out of office.
Take the profit out of insuring the citizens.
People who talk like you are ignorant on how the system works and who is responsible.
Ins. industry is not regulated by the federal government and are very powerful.
I won't get into the history of this but I did get quite an education on their history and activities over the years when I worked in the industry.
The average person hasn't got a chance against this industry.
There isn't any real reason for anyone to "hate" our President except for ignorance & prejudice.
You just sound ignorant in your comment.
Wake up and stop voting against yourself.
The corporations have divided us against each other for their own benefit.
And at the same time, Obama plans to sign the unconstitutional, neocon-Bush-wet-dream indefinite detention bill, the biggest infringement of American liberty yet (unsurprising, considering that Obama has no problem signing extensions of the foul, misnnamed Patriot Act).
ReplyDeleteThis is why my enthusiasm for Obama is so heavily tempered by reality.
and what omomma said!
ReplyDelete5:26AM - what employer complains aloud to his employees about the cost of insurance? One that doesn't value his employees' well-being, that's who. I'll bet there's colorful language when he signs your paycheck, too.
ReplyDeleteI. LOVE. HIM!
ReplyDeleteAnonymous@5:26...And this is the first time your insurance premiums increased, right??? My insurance premiums and deductible and co pays have increased every year for at least the last 15 years. I am now paying 2000% more than I was 15 years ago. I am positive you will find a way to blame the President for that too.
ReplyDelete@Jean 6:14:
ReplyDeleteHear, hear!!
I actually knew about this and yes our president is highly intelligent. As it has been said many times, President Obama is playing chess and the GOP is playing checkers.
ReplyDeleteBut I think everyone should realize that not everyone making over 250,000 a yr is against paying more in taxes.
While far far far from a 1%er, I do fall into that catagory.
My husband came from a dirt poor family and I came from a family that though my Dad had a decent job, Mom stayed home with 9 kids and streeeeetched that paycheck to the max. But thank goodness for one of those "elitist educations" and hard work, we are more than comfortable. We are both progressive dem's and believe it is our obligation TO PAY our fair share and also to give back in our community where it is needed. Karma,yup karma, I truly feel that our success is partly due to what we did and gave back in our lives.
I thank President Obama for making sure my disabled gradson and nephew who have had serious health problems as children will NEVER be denied healthcare for pre-existing conditions, I thank President Obama for the ability of many of my family to be able to stay under their parents insurance umbrella as young adults.
I wish that we would have had enough support in 2008 to push through a single payer, national healthcare system, but we didn't...but every step closer IS a victory, even if they are'n't giant steps. We need, as citizens, to do more to get there,one man, in one position can't do it all.
Little Rabbit
As for ANON at 5:26
Insurance costs have increased by close to 200% over the last 12 yrs for our business, do you really think that's caused by "Obamacare"?
PS Tawd...what does Sarahpac pay for your healthcare for carrying Sarah's purse around?
I wondered why that ad featuring Huckabee imploring people to sign the petition was on 24/7 especially on MSNBC! Think of the $$ that ad is costing!
ReplyDeleteDitto what Jean said both times!
ReplyDelete[ensuring that billionaires pay at least the same share of taxes as self-employed carpenters]
ReplyDeleteShhhhh don't say that too loud or you'll get the people in their Medicare paid for scooty-carts adorned with American flags and red, white and blue bunting all in a lather with venom and bile spitting out of their mouths because of the communist, socialist, Muslim, atheist stinking up the White House with his fried chicken and watermelon.
The problem with this is - does anyone know about it? The Obama administration has done a piss-poor job of touting it's own horn (or whatever the metaphor is).
ReplyDeleteAnd I'll second Sally@5.46a - we need another term for Obama AND a good Congress. If you know all he and the Dems were able to accomplish in his first congress and how little in his second, the difference is stark.
The TeaBaggers got scared by Obama's first Congress and set to work to get rid of it in 2010, and they damn-well succeeded. Now, WE have to WANT to regain the House and keep the Senate. I see this election as every bit important as the one in 2008.
And, earth to "Chicago Headquarters" - get your surragates out NOW to tout the accomplishments of the Obama administrations!!!!
I had no idea. That's so cool! No wonder why the thugs want it gone so bad.
ReplyDeleteI did not know the specifics. However it was made known the savings and revenue long term.
ReplyDeleteIt is difficult to get to the facts in the crossfire of those who reload using words and lies like death panels to assasinate others. Repubs ranted reform is to increase the deficit and now waged Obama is bankrupting the country meme.
people in their Medicare paid for scooty-carts adorned with American flags and red, white and blue bunting all in a lather with venom and bile spitting out of their mouths because of the communist, socialist, Muslim, atheist stinking up the White House with his fried chicken and watermelon.
ReplyDelete6:54 AM
hen they're no tin a lather about him being an arugula eating elitist, that is.
The inability to engage in critical thinking, i.e. logic is a requirement for being a 'bagger
That is amazing, and it explains so much! I love our President, but then I've said that on here before (many times).
ReplyDeleteI KNEW it! I freakin' KNEW that man played his cards closer to his chest than anyone I've ever seen! I just knew he had to have somethin' - well, not up his sleeve exactly, but there had to be something we weren't catching.
ReplyDeleteI wouldn't want to play poker against him!
Did you get your WH Christmas Card yet? It's very pretty. Suitable for framing. I will frame mine. It will be a family heirloom.
ReplyDelete6:23 am. There is no such thing as an "Indefinite detention bill." The Republicans added an amendment to the National Defense Authorization Act, knowing the the president could not line item veto the amendment. It helps to know what you are talking about.
ReplyDeleteWage earners making in excess of $250,000 are not the enemy. It's corporations "who" (not that) are making huge profits while slashing health care benefits to average people are. It's the shareholders who don't need a wage, who live off the interest of their investments of companies that hire people who can barely earn a living, who are not paying taxes, who are the problem.
ReplyDelete$250,000 won't get you far in NYC, or San Francisco, or many other places. That 3% will hurt them.
True, 250k might not get a family living in NY or San Fran very far, but let's stop and think about families who are making 16k, 25k, and 30k (way, way, less than 250k) living in those same places, and all across the country. Who's is thinking about them?
ReplyDeleteOK, I am one of those who has been wringing my hands over Obama's feckless leadership. The GOP rolls him by fighting him until the last minute. Then they say they will compromise. Then they demand some awful concession --and he gives it to them. That is what I have seen.
ReplyDeleteAfter reading this post, I will shut up for a little while and see what happens. If this provision does come to pass I will be thrilled.
11:31 am. No matter where you live in this country, $250,000 is still a lot more than most Americans make and I understand that people living in big cities find life more expensive than those living in smaller places especially in warmer climes. I think the folks earning $250,000 can afford a 3% tax hike. After all, one day they will receive Social Security and Medicare.
ReplyDeleteWow! No wonder the very wealthy politicians in Congress are having such a shit fit as well as those wealthy Republicans running in the primary. I'm assuming they know this because they are focused on doing in "Obama care".
ReplyDeletePresident Obama - you and your Administration - are doing one hell of a job and you have my vote AGAIN.
Knock out those Republicans in Congress next election cycle. They are NOT working for, or listening to, the "American people" as they constantly refer to us. They are horrible politicians!!
Bill Maher said it a couple months ago here:
ReplyDeletehttp://youtu.be/XiRj4lTVcow
Yes, The President IS a very saavy, smart and articulate man. Remember while he was laughing it up at that white house roast? Remember what was going on behind the scenes? And he gave no one even an iota of a clue, especially that silver spoon addicted toupee asshat Trump, who was leading the charge on the Birth Certificate.
ReplyDeleteHe's playing chess while everyone else is cheating at tic tac toe.
Go Jean!
And I'm sure people with disabilities and mobility issues would LOVE to be able to walk, work, and make 249,999 a year, you know, so their insurance will help cover the cost of their wheels- but not the cost to covert their vans or put ramps in their homes or make the doorways wheelchair accessible. But I hear they'll cover safety bars and shower chairs for the bathroom on the second floor.
Boy, I sure hope this is true, and not a misconception we'll be told later has been cleared up.
ReplyDeleteIt certainly makes TONS of sense as to why so much money and effort was made, to discredit "Obamacare."
It was obvious why the insurance industry was against any sort of reform, as they were enjoying a 40 cent profit, on each healthcare dollar spent, for doing diddly squat (other than denying claims and weeding out anyone who appeared to "NEED" a policy.)
But now I understand why the KOCHS and others, coughed up the dough to turn the populace against reform. In 2007, the polls showed 70% in favor of a big change...now its the same 70% against. Frightening how easily the American opinion can be bought.
As someone who knows the Canadian system well, I had hoped to see America finally enjoy true, civilized healthcare...but those who stood to lose, formed a juggernaut of defense against it...leaving the people with a chewed up bit of legislation that did little to address the problem.
The insurers screamed that being forced to actually PAY CLAIMS (the HORROR!) and issue policies to all who wanted one, would bankrupt them, if there wasn't a provision to MAKE everyone buy a policy, in order to prevent only the sickly from asking for coverage from them.
So they GOT that concession, THEN set about to make it sound as if President Obama had donned a Nazi SS cap, and was jamming insurance down everyone's throat.
This is NOT hard to find out information, yet when I speak of it, everyone acts surprised, and suspicious that I'm making it up.
Sigh.