Democrats Calling For $600 Billion Tax Increase
Posted by: Staff in Tax Reform, Health Care Reform, Fiscal Responsibility on
Jun 12, 2009
Democrats are slowly leaking the details of their health care proposal ... calling for more than $600 billion in tax increases and a price tag exceeding $1 trillion:
Health-care overhaul legislation being drafted by House Democrats will include $600 billion in tax increases and $400 billion in cuts to Medicare and Medicaid, Ways and Means Committee Chairman Charles Rangel said.
Democrats will work on the bill's details next week as they struggle through "what kind of heartburn" it will cause to agree on how to pay for revamping the health-care system, Rangel, a New York Democrat, said today. He also said the measure's cost will reach beyond the $634 billion President Barack Obama proposed in his budget request to Congress as a down payment for the policy changes.
Asked whether the cost of a health-care overhaul would be more than $1 trillion, Rangel said, "the answer is yes."
House Democrats plan to release their legislation next week. Obama has made a health-care overhaul a top domestic priority and is working with Congress to get legislation to his desk by October.

written by War Eagle, June 18, 2009
written by tXLara, February 19, 2010







