Thursday, May 04, 2017

Abominable Trumpcare

Abominable Trumpcare

by Stephen Lendman

Trump’s (Un)American Health Care Act is an abominable piece of legislation lawmakers should be ashamed to support.

Enough GOP House votes seem set to pass and send it on to the Senate where its fate is unclear at this stage.

An April Americans for Tax Fairness report headlined “Republican Health Care Repeal Plan: Tax Cuts for the Rich, Health Care Cuts for Everyone Else,” saying:

“…Republicans in Congress are determined to repeal Obamacare despite the public’s widespread opposition to their plan…”

Millions of America’s most vulnerable will lose coverage. Millions more will be way-underinsured. Costs will increase sharply, especially older people and others in rural America - while health insurers, drug companies, and high-net worth households will get “tax breaks worth about $600 billion.”

Trumpcare offers more for industry predators, the rich and privileged, less for most others, and extreme hardships for the nation’s most vulnerable - notably millions deprived of coverage, unprotected if serious illness or injuries occur. 

Here’s Trumpcare in a nutshell, according to Americans for Tax Fairness. Read it and dread what’s coming if it’s enacted and signed into law:

Republican Health Care Repeal Plan 
Winners 
Losers 
Tax Cuts: Gives $600 billion in tax breaks, mostly to the rich and corporations. 
Health Care Cuts: Takes health care away from 24 million Americans. 
Millionaires: Get a $50,000 tax break each year from repeal of the ACA’s taxes on the rich. A total of $275 billion in tax cuts goes mostly to the richest 2%. 
Low-income Americans: Loss of $275 billion in revenue from wealthy tax cuts plays a big role in 14 million low-income kids and seniors losing Medicaid coverage. 
400 Richest Families: Each get a tax cut of $7 million a year, on average. 
Workers: 7 million will lose health care coverage from their employer. 
Insurance Companies: Get $145 billion in tax breaks over 10 years. 
Older Americans: Health insurance companies could increase premiums by up to $13,000 for older Americans. 
Drug Companies: Get $25 billion in tax breaks over 10 years. 
Patients: No protections from huge drug price increases by pharmaceutical companies. 
Richest 2%: Get a $117 billion tax cut by eliminating a small Medicare tax on couples with incomes above $250,000 a year. 
Medicare beneficiaries: Loss of $117 billion in revenue from wealthy tax cut shortens Medicare’s ability to pay full benefits by three years. 

Trumpcare slashes coverage for low to moderate-income households so insurers, drug companies, and wealthy Americans can get huge tax cuts - a bonanza for them, a disaster for the nation’s most vulnerable. 

Stephen Lendman lives in Chicago. He can be reached at lendmanstephen@sbcglobal.net. 

His new book as editor and contributor is titled "Flashpoint in Ukraine: How the US Drive for Hegemony Risks WW III."

http://www.claritypress.com/LendmanIII.html

Visit his blog site at sjlendman.blogspot.com. 


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