GOP’s Repeal/Replace Plan: It’s Tax Cuts for the Very Rich, Stupid
The ACA repeal bill is all about giving massive tax cuts to the super wealthy. What a surprise!
The GOP’s draft bill to repeal and replace the ACA has finally been released, and you’re hearing a ton about how it changes and damages the current system for providing healthcare to almost everyone in the country.
But make no mistake: The driving force of repeal has always been about giving the super wealthy a massive tax cut — $300 billion over 10 years — by repealing the ACA’s tax increases on them.
Here’s Politico’s write-up in an article titled, “Republicans’ Obamacare repeal plan would cut taxes on the wealthy”:
House Republicans’ Obamacare replacement plan would cut taxes on the wealthy by hundreds of billions of dollars.
Their long-awaited proposal, unveiled Monday evening, would among other things kill a 3.8 percent investment tax on the well-to-do that Democrats had used to help finance the health care law, as well as a 0.9 percent surcharge on wages above $250,000.
Lawmakers did not immediately provide a cost estimate, but budget forecasters have previously estimated that nixing the two taxes would cost more than $300 billion over a decade.
The move would save the top 0.1 percent of earners about $195,000 annually, according to the Tax Policy Center.
So keep your eyes on the ball, Progressives. We MUST focus the country on stopping another massive tax cut for people who don’t need it, to preserve healthcare for the people who do.
PS — No disrespect intended in the headline. 😉
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