The House released their proposed health care plan yesterday. The preliminary Congressional Budget Office (CBO) cost estimate is $1 trillion. Here are the details:
Starting in 2011, a family making $500,000 would have to pay $1,500 in additional income tax to help subsidize coverage for the uninsured. A family making $1 million would have to pay $9,000.
In a summary of the bill, House Democrats said their proposal for a surcharge, or surtax, would raise $544 billion over 10 years — roughly half the cost of the bill — and affect “only 1.2 percent of all households in the United States.”
The House bill would create a new government-run health plan, which would compete with private insurers, starting in 2013.
A question to those making $500,000 a year or more…do you think that $1,500 a year is really going to affect your standard of living negatively? I don’t think so. Here’s how Paul Krugman put it:
OK, so the CBO score for the 3-committee House health care plan is in: $1 trillion over the next decade for 97 percent coverage of legal residents.
That’s a bargain: the catastrophe of being ill without insurance, the fear of losing insurance, all ended — for much less than the Bush administration’s useless $1.35 trillion first tax cut, quickly followed by another $350 billion.
That’s right, roll back those sweet tax cuts that the “1.2 percent of all households in the United States” and health care is paid, and then some, for 97% of Americans. I ask those of you who don’t make $500,000 and don’t want a public option, why do you care? You win in the end. You get health care and those elites you despise so much pay their fair share! And don’t talk to me about redistributing wealth or punishing those who have because they have. Those people were doing great before the Bush tax cuts and they’ll be doing great after they’re done. I don’t feel sorry for them one bit.
I do feel sorry for those that have not and still defend and argue for those that do. Those fools are being played. A public option is in their best interest as it will lower costs all around. Everybody wins with this plan.