In the final grapple to get a health care reform bill across the finish line, House Democrats insisted that the bill was “paid for.” Much of the money to pay for the bill would be found by reducing “fraud and waste,” which savings always sound good on the stump but often prove elusive in the event.
Politicians often say things on the stump that they don’t really mean. Getting in is the main thing, everything after is damage control.
Nothing much has changed:
Taxpayers earning less than $200,000 a year will pay roughly $3.9 billion more in taxes — in 2019 alone — due to healthcare reform, according to the Joint Committee on Taxation, Congress’s official scorekeeper.
The new law raises $15.2 billion over 10 years by limiting the medical expense deduction, a provision widely used by taxpayers who either have a serious illness or are older…
Once the law is fully implemented in 2019, the JCT estimates the deduction limitation will affect 14.8 million taxpayers — 14.7 million of them will earn less than $200,000 a year. These taxpayers are single and joint filers, as well as heads of households. (Emphasis added)
Having recently completed my taxes for 2009 – and receiving rather a nasty shock at the bottom line – I can only hope to be less productive in 2019 than I am now.
Very soon now – if I am not there already - I simply won’t be able to afford to succeed.
I don’t really think that was the point. But I can’t really be sure, either.