What health reform? Senate Wealthcare Bill gives tax breaks to ultra-rich, will kill sick people
One TRILLION dollars in tax cuts, the vast majority of which go to the already-rich:
The health-care bill the GOP rolled out on Thursday morning will retain the nearly $1 trillion in tax cuts previously proposed, with few minor differences.
This means the Senate health-care bill’s tax breaks would go primarily to the wealthy, with 40 percent of savings going to the top 1 percent of earners and 64 percent of savings going to the top 20 percent of earners.
“The tax provisions are pretty much unchanged, except for some implementation dates,” Gordon Mermin, senior research associate at the Urban-Brookings Tax Policy Center, told CNBC. “Substantively it’s the same as what’s passed the House.”
In March, the Tax Policy Center modeled the distribution results of the American Health Care Act’s tax provisions to find where the $992 billion in tax cuts would end up. There are only “minor exceptions,” Mermin said, as the Republican bill proposed Thursday retains the same provisions as the version proposed earlier this year.
The result of the Senate’s bill is a time delay for some tax cuts, at most. The Tax Policy Center’s table, which can be viewed on their website, is valid for the new bill when analyzed as showing results from 2023 onward.
Who will have to die so the rich can get richer? Senator Elizabeth Warren explains why the Senate’s “Health Refrom” legislation is a Blood Money bill.
