Archive for health care reform
Health Care Reform Contains Tax Increases Hidden In Plain Sight
Posted by: | CommentsTo pay for health care reform, you’ll find billions of dollars in tax increases tucked inside the two major bills now before Congress – with each taking a vastly different approach to who ends up paying.
Will it be the wealthiest among us, as proposed by the House bill, which levies a 5.4 percent income tax surcharge on those earning more than $500,000 a year?
Or might it be a broad swath of the middle class, hit by an array of tax code changes on medical expenses and taxes levied on insurance policies, drug manufacturers and others in the health industry, which say they’ll pass these costs on to consumers?
The final outcome may be parts of both approaches – but any way you cut it, someone will be paying higher taxes to support the costs of reform. Those costs include subsidies for some families to help them buy health insurance, starting in 2013 or 2014, and expanded government coverage for some.
Here’s a quick look at the tax proposals in each of the major bills:
