Obamacare repeal means big tax cut for the wealthy
This is another reason Republicans are committed to getting rid of Obamacare.
Click here for reuse options!The Tax Policy Center, a nonpartisan nonprofit based in Washington that provides analysis of tax issues in policy, finds in a new report that the net effect of Obamacare repeal is a massive tax cut for the rich.
TPC estimates that the top 1 percent of earners would get an average tax cut of $33,000 if Obamacare is repealed — and those in the top 0.1 percent would get an average tax cut of $197,000.
Meanwhile, those who earn less would actually see their taxes, on average, go up. This is because most of the tax subsidies to purchase insurance coverage through the marketplace go to low-income Americans. TPC estimates that, on average, Americans who are in the bottom quarter of earners would see their taxes increase by $90.
Copyright 2016 Liberaland
10 responses to Obamacare repeal means big tax cut for the wealthy
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Suzanne McFly December 15th, 2016 at 14:34
Well that revelation just placed the final nail in the Obamacare coffin.
amersham1046 December 15th, 2016 at 15:02
Comes as no surprise , and there is more of this coming so those working for a living will need to tighten your belts again
Hirightnow December 15th, 2016 at 17:05
The Trump supporters will kid themselves that it is somehow Obama’s fault, and praise Trump for making things better.
Then they’ll give him credit for increasing the chocolate ration…
Larry Schmitt December 15th, 2016 at 15:08
And why shouldn’t they get a tax break? They deserve every penny they get, right? After all, they provide the jobs, and they can’t do that if we tax them. Right?
bpollen December 15th, 2016 at 16:02
Ask me again when I have taken TRUCKLOADS of drugs and the answer very well might be yes.
Larry Schmitt December 15th, 2016 at 17:19
The Reagan administration was obviously doing that when they came up with trickle down and actually expected us to buy it.
bpollen December 16th, 2016 at 02:38
As President Oompaloompa shows, people ARE gullible…
Hirightnow December 15th, 2016 at 17:04
Trump inner monologue:
“Hmmm…popularity, or money…popularity or money….”
mfr4 December 15th, 2016 at 18:32
This is Obama’s fault. If he hadn’t lowered taxes in the first place for lower incomes this wouldn’t be an increase.
Gary Parillo December 16th, 2016 at 02:04
This corrupt for profit,insurance dominated complex so called medical system,is going to continue to worsen.Obama had the right idea,yet didn’t go far enough thanks to once again the Repubs.Universal,single payer,is the only workable and humane system.Years ago there were not only more jobs,but more jobs that provided health insurance.The same way of thinking will not work due to that and numerous other factors that so few ever mention.As Einstein once stated,a problem cannot be solved by staying at the same level of thinking that caused the problem.The politicians know know this is true,but as long as they have money stuffed in their pockets by insurance lobby’s,they will continue to pretend they don’t know.