Tuesday, February 23, 2010

How Obama wants to pay for health reform!

Increase Medicare tax on high-income households: Currently, the Medicare payroll tax is 2.9% on all wages -- with the worker and his employer each paying 1.45%.
Require insurance coverage: The president would impose a financial penalty on most Americans who don't buy health insurance.
Require employers to pay if they don't provide coverage: The president's proposal would also impose requirements on employers with more than 50 employees to pay into the system if they do not provide their workers with coverage, or if they provide a plan but it proves unaffordable for some workers.
Impose new fees on the health industry: The president's proposal would impose new fees on health care companies such as drugmakers, medical device makers and insurers. The fees would be in exchange for the new business that will come their way as a result of the expected influx of Americans who will obtain health coverage and use more medical services.
Trim various health-related tax breaks: The president's proposal would impose an additional 10% penalty for non-health withdrawals from tax-advantaged health savings accounts.

http://money.cnn.com/2010/02/22/news/economy/obama_proposal_payfors/
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