NORTON META TAG

05 May 2017

MORE ON THE WINNERS AND LOSERS UNDER THE HOUSE GOP HEALTH BILL 4MAI17

Trumpcare Nightmare: Just About Everyone With Health Care Is Going to Pay More, Get Less
The House GOP’s “winners” are:
• Tax cuts: Gives $600 billion in tax breaks, mostly to the rich and corporations;
• 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%;
• 400 Richest Families: Each gets a tax cut of $7 million a year, on average;
• Insurance Companies: Get $145 billion in tax breaks over 10 years;
• Drug Companies: Get $25 billion in tax breaks over 10 years;
• Richest 2%: Get a $117 billion tax cut by eliminating a small Medicare tax on couples with incomes above $250,000 a year.
The “losers” are:
• Health Care Cuts: Takes health care away from 24 million Americans;
• 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;
• Workers: 7 million will lose health care coverage from their employer;
• Older Americans: Health insurance companies could increase premiums by up to $13,000 for older Americans;
• Patients: No protections from huge drug price increases by pharmaceutical companies;
• Medicare beneficiaries: Loss of $117 billion in revenue from wealthy tax cut shortens Medicare’s ability to pay full benefits by three years.