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Originally Posted by PaulS
All this talk about what 1 person proposed and will never happened and yet I don’t believe I have seen anything about Trumpcare and his budget.
Trump’s budget proposes billions of dollars in cuts to programs that fund research into new cures, protect the country from infectious diseases and bioterrorism and provide care to the poor, the elderly and people with disabilities. The mortgage interest deduction would be eliminated for any mortgage below (I thought I read) 680K. Meals on wheels, National Endowment for the arts, and humanities, NOAA all will take huge cuts.
The CBO analysis said that Trumpcare would rob 23 million people of health insurance while leaving millions of others with policies that offer little protection from major medical conditions. All of this would give huge tax cuts for the richest Americans and corporations.
Medicaid provides health insurance to more than 75M Americans (and 60% of nursing home residents and millions of people with disabilities) would lose $834 billion over 10 years, according to the C.B.O. The president’s budget would take a further $610 billion from the program by “reforming it”. Taken together, this amounts to an estimated 45 percent reduction by 2026 compared with current law.
Trumpcare, would make it impossible for millions of people with pre-existing conditions like heart disease or diabetes to buy health insurance. That’s because the law would let states waive many of the requirements of Obamacare. It would also greatly increase the cost of insurance policies for older and poorer people. A 64-year-old earning $26,500 a year and living in a state not seeking waivers would have to pay $16,100 a year for coverage, nearly 10 times as much as she would under Obamacare (I guess they can hold off on purchasing an Iphone for the 1st months premium).
For Trumpcare alone estimates that almost all of the tax cuts in that legislation would flow to the rich: The top 1 percent would take home an average of $37,200 a year, while people with middle-class incomes would get a measly $300.
I have read some say this is a “good conservative budget”. Let there be no doubt that it hurts the poor and middle class and benefits the rich -is that what Pres. Trump promised the struggling middle class? I wonder if the auto correct will even let me type compassionate conservative?
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A much better post, with things worth discussing. If Trump (or anyone in either party) proposes things that gut badly needed social programs for the benefit of the wealthy, that absolutely needs to be called out.
Trump is proposing to eliminate many federal income tax deductions. But you failed to point out that he is proposing tax rate decreases to offset this. So unless you know what the offsetting (presumably lower) tax rates are, you can't say who will see a net tax increase and who will see a tax decrease. If I lose my mortgage interest deduction, but my tax rate goes down by more than enough to offset that, I am happy. Right?
The National Endowment of the Arts - why the hell should a coal miner in west Virginia be subsidizing opera tickets for the swells in Manhattan? Let them pay for their own opera tickets. We love fishing the way many people love art (except in a much less pretentious way). So why aren't we entitled to federal subsidies to make it cheaper for us to pursue what we love? The NEA makes absolutely zero sense to me, I can't believe it still exists.
I don't want to see huge numbers of people lose insurance.
"All of this would give huge tax cuts for the richest Americans and corporations."
True., But what you failed to point out (again), is the flip side to that coin. Meaning, if corporations get a huge tax windfall, at least SOME of those corporations will invest in growth, which will create some jobs, which means more people will have insurance through work. Will it be 23 million? Beats me. But you can't judge a proposal based solely on what gets cut. You have to compare the pros and cons, not just look at the cons.
"Let there be no doubt that it hurts the poor and middle class " When you focus on what's getting taken away, and completely ignore the extras that will be provided (like tax rate decreases and possibly more good jobs and more offshore money coming back to the US) sure it looks that way. But that's not the honest way to evaluate such things.