How Repealing Obamacare Will Make The Rich Richer | Soshal Network, Social Circle Connection

How Repealing Obamacare Will Make The Rich Richer

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Congressional Republicans don't want to repeal Obamacare to improve the lives of Americans. Like always, they want please the donor class. This will also make the poor poorer. Cenk Uygur, John Iadarola, and Jimmy Dore, hosts of The Young Turks, break it down. Tell us what you think in the comment section below.

"Republican plans to repeal the Affordable Care Act without a replacement — which health care policy experts predict could cost 30 million people their health insurance — will also bring a major tax break for high-income Americans.

Two taxes that will be presumably axed with the law affect only those making $200,000 or more. The break the ACA repeal will bring to those taxpayers will amount to a $346 billion tax cut in total over 10 years, according to the CBO report on the 2015 repeal legislation GOP lawmakers say they’ll be using as their model next year.

As University of Michigan law professor Nicholas Bagley pointed out on the Incidental Economist blog, this comes as Trump and his surrogates promised that any major tax cut for the rich will be offset by closing their deductions, which would not be the case with the cuts in the ACA repeal.

"That $346 billion represents about $1,000 for every man, woman, and child in the United States. Every cent will go into the pockets of people making more than $200,000 per year," Bagley wrote.

It's not exactly what's on the top of American public's mind considering all the other dire warnings being issued about the repercussions of repealing Obamacare, even with a delay, without a replacement plan queued up. Call it a stealth tax cut.

“Repealing the Affordable Care Act is a way to give wealthy people a fairly substantial tax cut without that necessarily being the largest headline,” Harry Stein, the director of fiscal policy at the left-leaning think tank Center for American Progress, told TPM.

The taxes in question are known as the Medicare tax on higher income individuals and the net investment income tax. The former is a 0.9 percent tax placed on those who earn $200,000 or more individually (or $250,000 for married couples who file jointly). It comes on top of the Medicare payroll tax employees pay together with their employers, but only applies to the income that exceeds the $200,000 threshold.”*

Read more here:

Hosts: Cenk Uygur
Cast: Cenk Uygur

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46 comments

  1. Posted by Ryan Jones, at Reply

    No dislikes? Trump bots haven’t been triggered yet.

    • Posted by XxDurazxX, at Reply

      Ryan Jones I can dislike

    • Posted by Lee Bennett, at Reply

      Ryan Jones you spoke to soon. haha.

    • Posted by Mr President, at Reply

      Ryan Jones Hi.

    • Posted by Empty Existentialist, at Reply

      Mr President are your hands big enough for the oval office

    • Posted by Vernon Greene, at Reply

      Tiny hands to build that tiny fence.

  2. Posted by XxDurazxX, at Reply

    This is misleading. They’re not repealing it. They’re altering it. Not
    making it mandatory to purchase it.

    • Posted by Gordon Bradley, at Reply

      Mak Tizo
      single-payer ! like the greatest health service in the world. the British
      NHS.

    • Posted by Adrian Engler, at Reply

      XxDurazxX If health insurance is not compulsory, many young and healthy
      people will not be insured because they think zheir risk is low, and then,
      premiums for the insurances that overproportionally will cover people with
      health problems will be so high that many people cannot afford them.

    • Posted by Harambe4POTUS2016, at Reply

      you think the republicans are going to implement single-payer? HA!

  3. Posted by Smooth Doge, at Reply

    We’re gonna build a wall around the United States and make America pay for
    it! Believe me, folks. Believe me. It’ll be a big, beautiful wall and it’ll
    be tremendous. Let me tell you.

    • Posted by Alex da Vinci, at Reply

      Smooth Doge

      That’s true. They’re already talking about the US congress paying for the
      wall.

    • Posted by Sablicious, at Reply

      Build it around your *DEBT,* too. Thanks.

  4. Posted by Cloudfall, at Reply

    I’m beyond tired of seeing Trump’s face. It’s sickening.

    • Posted by Festus Hagin, at Reply

      Cloudfall
      I’ll say you’re correct 50% of the time.

    • Posted by ND7652, at Reply

      And he’s not even President yet .

    • Posted by My username is so obnoxiously long and there is absolutely nothing you can do about the matter, at Reply

      Lol commie

  5. Posted by Null, at Reply

    cenk for president?

    • Posted by FLUFFER FACE, at Reply

      Cenk to suck donkey dicks.

    • Posted by per sebra, at Reply

      Cenk doesnt want your job, pissface.

    • Posted by Michael Hernandez, at Reply

      That obese moose can NEVER be our president since he was born in Istanbul
      Turkey.

  6. Posted by peter sodja, at Reply

    This is the best example of capitalism devouring itself.

    • Posted by Ruthlessfish, at Reply

      A parasite don’t eat itself.

  7. Posted by Stranger “Things Have” Happened, at Reply

    *Trump has already said the ban on pre-existing condition excuse will stay.*
    

    • Posted by Sarah Miller, at Reply

      Stranger Happened ‘pre-existing excuse?’ Did you mean to use the phrase
      clause?

    • Posted by Stranger “Things Have” Happened, at Reply

      The ban for insurance companies to use pre-existing condition excuse (to
      not cover healthcare expenses) will be kept.

  8. Posted by Dan Moar, at Reply

    The Art of the New Deal :P

  9. Posted by Blackatchaproduction, at Reply

    Republicans wouldn’t have had an issue with romney passing the same dam
    thing. since it is THE SAME DAM THING. just were just upset a half black
    guy passed it. so now they want to repeal it. cut their nose to spite their
    own “white” faces. let murica REAP! REAP!

  10. Posted by Black Swan, at Reply

    OBAMACARE was a scam from the beginning for the insurers to get rich from
    the people and take government subsidies.. The ONLY IDIOTS praising
    OBAMACARE are the morons that don’t HAVE TOO BE ON IT! IT F@#KING SUCKS..
    SO STOP TRYING TO PROMOTE IT YOU OUT OF TOUCH RETARDS..

    • Posted by Atmost11, at Reply

      Irrelevant. This is your last chance to tell people Obamacare was bad.

  11. Posted by Bert Nijhof, at Reply

    Jimmy Dore still tries to find excuses for his behavior, he attacked
    Hillary more then the fascist elect.

  12. Posted by ecwaufisxtreme, at Reply

    Obozocare will be completely repealed under the Drumpf! The Drumpf’s
    successor Sarah Palin WILL ensure that ALL govt run healthcare systems
    around the whole world be privatized!

  13. Posted by LanceFlugerman, at Reply

    obamacare is making the rich richer. everything makes the rich richer.
    #LoserTYT = #FakeNews

  14. Posted by Dragon1717, at Reply

    Tell ya what. I’m middle class. Repealing Obamacare will allow me to keep
    more of my take-home pay and put more money in my bank account. These
    premiums and deductible are out of control and repeal can’t come soon
    enough!

    • Posted by charlidog2, at Reply

      Single payer socialized health care is the solution. We don’t need a third
      party making a profit on healthcare.

    • Posted by Dee Smith, at Reply

      +charlidog2 – Apparently it’s escaped your notice that the centralized
      corporate government IS the third party making a profit on these issues for
      which the federal gov’t isn’t Constitutionally supposed to be involved in
      FOR JUST THAT REASON. Who the hell do you think puts these corporatists in
      office? Who the hell do you think lobbies them and writes the legislation
      that these corporatist politicians then pass? You think it’s an “accident”
      or a mere coincidence that the very same big 5 health insurance
      corporations who WROTE the ACA were the ones who benefited from the ACA?
      You think it was just a coincidence that ALL their competitors were
      regulated right the hell out of business when the ACA passed???!!! Holy
      crap charlidog2… you really need to do a little research before you vote
      OR spout off on a public blog.

  15. Posted by Martin Whitman, at Reply

    Remember “Bernie or Bust”? Well now we’re seeing what “Bust” looks like.

  16. Posted by charlidog2, at Reply

    I’d tax multi billionaires half of their worth. Death penalty to any who
    try to cheat.

  17. Posted by bennino2204, at Reply

    Jimmy is right. A strong Progressive Third Party would force the Democratic
    Party to address it’s base (Working Class, The poor, Unions,etc) We
    currently have only 2 Political Parties and both work for the Corporate
    Totalitarian State.

    • Posted by TheTechnocrat78, at Reply

      bennino2204 Jimmy’s not right.. his entire premise comes from an extremist,
      left-wing radical.. the truth of the matter is that the far left hurt their
      movement far worse than they should have..

    • Posted by bennino2204, at Reply

      I guess that’s why BERNIE SANDERS was so popular and Hillary,Corporate
      shill, lost to Donald Trump. Please look up “THE NEW DEAL”

    • Posted by TheTechnocrat78, at Reply

      +bennino2204 the “hew” deal??

  18. Posted by Ishmael Forester, at Reply

    Get an NHS, dummies.

    • Posted by Dee Smith, at Reply

      +Ishmael Forester – No thanks. Had to suffer under THAT when I lived in
      London. It SUCKED and we all had to purchase BUPA at our own expense PLUS
      pay the massively high taxes to cover the NHS which SUCKED!

  19. Posted by Bill Bob, at Reply

    A 3ed party? No. Take the Dems over, that will be far easier. If you keep
    trying 3ed party you will keep loosing.

  20. Posted by Bad Hombre, at Reply

    No, Jimmy. Trump’s presidency is going to be such a disaster, the democrats
    won’t need to change to win back the presidency and congress. They’ll get
    to say, “That’s what happens when you elect an ‘outsider,’ now come back to
    us.” Your little prediction about the left being galvanized by Trump is
    going to be all wrong.