Rubbish. Like any big, expensive government programme, Obamacare now has a constituency with lots of money and a determination to see it doesn't change. Just like the military procurement system.
Smile! You’ve Got Socialized Healthcare!
- Thread starter Locutus
- Start date
I told you, I'm done doing your research for you. I'm not interested in your us vs. them games. I'm interested in solution. Go play with Eaglesmack some more. He loves us vs. them.
Or any of a dozen mandatory-insurance schemes, like France and Germany and Japan have. Providing health care at least as good as Britain and Canada provide, at comparable prices, to all their people.
You wanna cheerlead for something Canadian, cheerlead for Tim Hortons. Single payer is not the only effective health-care solution.
New Obamacare tax on insurance company CEOs raises $72 million
With very little fanfare, Obamacare just raised $72 million from health insurance companies. To be more precise, it raised that money from health insurance company CEOs by closing a tax loophole.
For decades now, the United States has limited the corporation tax deduction for executive pay to $1 million for the company's top four employees. That deduction cap, however, excluded performance bonuses, creating a massive loophole allowing companies to pay their top employees more than $1 million without facing a higher tax burden.
Obamacare quietly changed the rules for health insurance executives. It lowered the cap to $500,000—and, in that amount, now includes all forms of compensation. The health insurers' regulation also widens the scope of who it hits: while the general deduction cap only applies to the company's top four employees, the Obamacare rule hits any executive earnings more than $500,000.
That's how much was raised just from the 10 largest insurance companies, and just 57 executives. So this estimate is likely underestimating how much was raised by the law. While $72 million is a tiny drop of the bucket in terms of the federal budget, for health care alone, it's a good chunk of money.
Imagine how much the government could raise if it closed that loophole in every industry. No wonder Republicans hate Obamacare so much; It's working to insure people and it's raising money. What a nightmare for them.
This is what happens when the corporate welfare state has to pay its fair share.
With very little fanfare, Obamacare just raised $72 million from health insurance companies. To be more precise, it raised that money from health insurance company CEOs by closing a tax loophole.
For decades now, the United States has limited the corporation tax deduction for executive pay to $1 million for the company's top four employees. That deduction cap, however, excluded performance bonuses, creating a massive loophole allowing companies to pay their top employees more than $1 million without facing a higher tax burden.
Obamacare quietly changed the rules for health insurance executives. It lowered the cap to $500,000—and, in that amount, now includes all forms of compensation. The health insurers' regulation also widens the scope of who it hits: while the general deduction cap only applies to the company's top four employees, the Obamacare rule hits any executive earnings more than $500,000.
That's how much was raised just from the 10 largest insurance companies, and just 57 executives. So this estimate is likely underestimating how much was raised by the law. While $72 million is a tiny drop of the bucket in terms of the federal budget, for health care alone, it's a good chunk of money.
Imagine how much the government could raise if it closed that loophole in every industry. No wonder Republicans hate Obamacare so much; It's working to insure people and it's raising money. What a nightmare for them.
This is what happens when the corporate welfare state has to pay its fair share.
^ we've been hearing that for a while by critics of Obamacare - but you have yet to get your wishes granted as it is reducing unemployment along with costs while increasing the amount of people covered and treated for illness
I don't do "fair." It's a word with no definition, only opinions.
But here's how it works under Obamacare. By law, insurance companies must spend at least 80% of all receipts on delivering care.
So. . . let's say you're an insurance company with 20 million customers and 50 billion in revenues. You get to spend 10 billion on hookers and blow. Now, if you encourage the medical industry to double its prices, then double yours, the same customer base now provides you 100 billion in revenues, and you get to spend 20 billion on hookers and blow. All paid for by Duh Peepul, either through premiums or through the taxes that finance the subsidies.
Consumption taxes are OK. But only after all sheltered capital is fully accounted for and the taxes paid on the enrichment the wealthy elites got from it.
Walter; said:
Fortune 500 companies have gotten a freebie for the past 60+ years as the gubmint has subsidized their medical costs on form 1120. Nobody ever objected when these elite suburbanites have gotten that freebie at our expense.
