Quote:
Originally Posted by ReformedDave
Wouldn't there be a higher tax revenue to offset the expense? Didn't I hear someone say that Obama wants to through 1 trillion dollars at the issue?
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Indeed, Obama did say that. But again things are more complicated than they look. Yes, a universal system would require at least 1 trillion dollars start. But remember, as we speak there are different Federal Programs providing some form of assistance with health care to various people groups. For example you have Medicare, Medicaid, SCHIP, funding blocks for state programs, etc. The first step is to bring all of those programs and their funds under one umbrella program. So in a real sense a good portion of the 1 trillion dollars needed for the program is already in the budget, it’s just broke up over a myriad of different programs right now. They will do this because with a universal health insurance system there’s no need for SCHIP, Medicare, Medicaid, Veterans health care programs, etc. There would be a single all encompassing program. Estimates are that when all of these Federal monies are brought under the universal health insurance program umbrella a good portion (some estimates show as much as 50% to 60%) of the 1 trillion dollar budget would be in place. The remainder would be funded primarily by repealing the Bush tax cuts on only the top 2% of those who received them and according to Obama, “don’t need them, and didn’t ask for them.” I personally believe that there will also be a nominal tax increase, but it may not directly touch the middle class.
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