One Thing Growing As Fast As Health Care Costs Is Income of Rich
source: http://emptywheel.firedoglake.com/2009/12/14/one-of-few-things-growing-as-fast-as-health-car...
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The Economic Policy Institute provides a much needed counter-weight to those cheerleading the use of Cadillac-as-Chevy taxes to pay for the Senate health care bill. It shows, generally, that the millionaire’s tax used to fund the House bill is far more progressive than the Cadillac-as-Chevy tax used to fund the Senate bill, which ends up taxing those at $20-30,000 more than it taxes those at $500,000 to 1 million a year.
In fact, it makes an even more striking point. Given the way the economy has worked in the last several decades, one of the few ways to fund health care in such a way that will keep up with rising health care costs is to tax the rich.
"While a funding source that grows with health care costs is a desirable goal, it should be noted that for the last three decades one of the only things in the American economy that actually has grown as fast as overall health costs is the incomes of the richest 1% of households."
The paper points out two central reasons why the excise tax won’t be as progressive as its champions claim.
Paper: http://epi.3cdn.net/d4461bae3920d3a28a_7jm6b9314.pdf
In fact, it makes an even more striking point. Given the way the economy has worked in the last several decades, one of the few ways to fund health care in such a way that will keep up with rising health care costs is to tax the rich.
"While a funding source that grows with health care costs is a desirable goal, it should be noted that for the last three decades one of the only things in the American economy that actually has grown as fast as overall health costs is the incomes of the richest 1% of households."
The paper points out two central reasons why the excise tax won’t be as progressive as its champions claim.
Paper: http://epi.3cdn.net/d4461bae3920d3a28a_7jm6b9314.pdf
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