Monday, October 12, 2009

TAX THE SICK: OBAMA'S NEW PLAN

According to Dick Morris and Eileen Mc Gann:

Faced with a need to scrounge for revenue to fund his plan for health care, President Barack Obama and Senate Finance Committee Chairman Max Baucus have come up with a brilliant new idea: Tax the sick!
In a new amendment to the health care bill, they propose to limit the deductibility of medical expenses on income taxes.
Now, taxpayers may deduct any medical expenses that exceed 7.5% of their Adjusted Gross Income. Obama and Baucus want to raise that threshold to 10% as long as the taxpayeris under 65.
Eight million American are sick enough that they have to pay more than 7.5% of their income in medical expenses. And it is these folks that the liberals Obama and Baucus plan to tax! Six million of them earn less than $75,000 a year!
For a family earning $75,000 a year and facing out-of -pocket medicals bills of $7,500, this proposal would cost them about $600 a year in extra taxes.
And let's remenber who it is that they are taxing. This propsal affects people whose incomes are so limited and whose medical costs are so high that they excced 7.5% of their pre-tax income.
Their proposal literally hopes to raise $20 billion over ten years by taxing sick people.
The Democrats defend their proposal by saying that it would discourage health care spending.
But nobody deliberately spends 7.5% of their income on medical costs unless they are pretty sick and needy.
Obama and Baucus have single out the sickest among the middle class for this heinous tax. (The poor will not have to pay it because they re elegible for Medicaid). Originally, the Democrats continued their war on the elderly by proposing to tax everyone who spendsmore than 7.5% thershold on medical costs. But they retreated when it became clear that six million elderly would be hit with the tax. Now they just sock it to eight million sick, midle income Americans.
This tax, and the desire to cut Medicare and Medical by $500 billion, makes Obama and Baucus unlike any Democrats I have ever known. Democrats, at least when i worked for Clinton, defended the elderly and the sick rather than cut the former and tax latter

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