Ilovebenefits’s Blog

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Who is Keeping a Total on the Tax Increases?

Editor’s note: No reduction in health premiums, increased taxes, cadillact taxes, requirements to purchase coverage — is anyone keeping track?  What ever you call it, it is money out of people’s pockets that they can’t spend on other things — social opportunity cost.

Obama No Longer Touting Campaign Pledge That Reform Will Save Families $2,500. Politico (11/12, Brown) reports that President Obama “ran for president on a promise of saving the typical family $2,500 a year in lower health care premiums,” but “that was then. No one in the White House is making such a pledge now.” The President “has barely uttered it since taking office. The last recorded mention by Obama was in May.” According to Politico, “No independent group has taken a comprehensive look at how the legislation would impact premiums for the 170 million Americans who receive insurance through their employers.” Sen. Evan Bayh “request[ed] a broad analysis” from the CBO “on premiums, which he said was ‘a basic, bottom-line question that we have to have answered before we can decide if this is an intelligent thing to do.’ Aides expect to see the report ahead the Senate floor debate on health care, which is causing anxiety among Democrats because of the uncertainty of what the famously cost-conservative CBO will produce. The possibility that congressional scorekeepers will conclude that premiums won’t flatten out or decrease would make centrists even more leery of reform, forcing adjustments to the bill.

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WSJournal Claims House Surtax Would Contribute To 69% Cap Gains Tax Hike In 2011. The Wall Street Journal (11/12, subscription required), in an editorial notes that House Democrats’ proposed 5.4% surtax taxpayers making more than $500,000 or $1 million for joint filers applies to capital gains and dividends. The Journal contends that the new surtax, in conjunction with the expiration of the Bush tax cuts in 2011, amounts to a 69% capital gains tax increase.

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November 12, 2009 - Posted by | Cost, Federal Government, healthcare | , , ,

1 Comment »

  1. This is why the TEA party movement is so necessary.

    Comment by Timmy K | November 12, 2009 | Reply


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