Finally, Common Sense on Health Care: Taxing the Rich

By Ben Cohen

A sensible approach funding a health care package is finally discussed by House Democrats:

House Democrats will ask the wealthiest Americans to help pay for

overhauling the health care system with a $550 billion income tax

increase, the chairman of the tax-writing Ways and Means Committee said

Friday.

The proposal calls for a surtax on individuals earning at least

$280,000 in adjusted gross income and couples earning more than

$350,000, said the chairman, Representative Charles B. Rangel of New York.

It would generate about $550 billion over 10 years to pay about half

the cost of the legislation, Mr. Rangel said. As the proposal envisions

it, the rest of the cost would be covered by lower spending on Medicare, the government health plan for the elderly, and other health care savings.

Given the monstrous tax breaks the super rich have enjoyed over the past 8 years, it’s about time they contributed their fair share to the government. Republicans (and some idiotic Democrats) still believe reform can happen without paying for it, but the reality is that the system is so corrupt and inefficient, it isn’t really an option. And given the huge outcry from Progressives over Rahm Emmanuel’s slip that the Obama Administration wouldn’t necessarily go for the public insurance plan, the likelihood that a medicare like package will be extended to the rest of the population seems more likely than ever. At least that’s the way it looks now – not always the best indicator of what will actually pass.

Ben Cohen is the editor and founder of The Daily Banter. He lives in Washington DC where he does podcasts, teaches Martial Arts, and tries to be a good father. He would be extremely disturbed if you took him too seriously.