I can hear Republicans groaning already...
Speaker of the House Nancy Pelosi and others announced the House
version of health care reform legislation. The measure, among other
things, imposes a gradual tax beginning for those who make $280,000 a
year, a 5.4 percent tax increase on individuals making more than $1
million a year, and mandates that all Americans receive health care
Employers who don't provide coverage would be hit with a penalty equal
to 8 percent of workers' wages with an exemption for small businesses.
Individuals who decline an offer of affordable coverage would pay 2.5
percent of their incomes as a penalty, up to the average cost of a
health insurance plan. The House Ways and Means Committee, one of three
committees that will review the bill, is expected to vote on it as
early as this week, but the bill remains controversial and debate over
it is expected to become very intense. But, as you can see from the
graph on the right (which refers to reversing the Bush tax cuts), this tax increase isn't nearly as dramatic as many
right-wingers would have you believe.
Not being particularly wealthy, this plan sounds good to me.
Also, the fact that when I turn 26 I'm SOL with health insurance
compels me to support this measure.
But can Obama make it happen?