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1 Inequality on Wed Mar 24, 2010 9:58 am

gypsy


Moderator
my words one reason Health reform was so important is what this article states//inequality, ending poverty

http://www.msnbc.msn.com/id/36013261/ns/politics-the_new_york_times/
msnbc.com home

In health bill, Obama attacks wealth inequality
Gap between economic well-being of the sick, healthy has been growing


What Obama's health bill means for you
March 24: From cost to quality of care, TODAY financial editor Jean Chatzky and NBC’s chief medical editor Dr. Nancy Snyderman break down how the new health care bill will impact you.

For all the political and economic uncertainties about health reform, at least one thing seems clear: The bill that President Obama signed on Tuesday is the federal government’s biggest attack on economic inequality since inequality began rising more than three decades ago.

Over most of that period, government policy and market forces have been moving in the same direction, both increasing inequality. The pretax incomes of the wealthy have soared since the late 1970s, while their tax rates have fallen more than rates for the middle class and poor.

Nearly every major aspect of the health bill pushes in the other direction. This fact helps explain why Mr. Obama was willing to spend so much political capital on the issue, even though it did not appear to be his top priority as a presidential candidate. Beyond the health reform’s effect on the medical system, it is the centerpiece of his deliberate effort to end what historians have called the age of Reagan.
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Speaking to an ebullient audience of Democratic legislators and White House aides at the bill-signing ceremony on Tuesday, Mr. Obama claimed that health reform would “mark a new season in America.” He added, “We have now just enshrined, as soon as I sign this bill, the core principle that everybody should have some basic security when it comes to their health care.”

Taxing the rich
The bill is the most sweeping piece of federal legislation since Medicare was passed in 1965. It aims to smooth out one of the roughest edges in American society — the inability of many people to afford medical care after they lose a job or get sick. And it would do so in large measure by taxing the rich.

A big chunk of the money to pay for the bill comes from lifting payroll taxes on households making more than $250,000. On average, the annual tax bill for households making more than $1 million a year will rise by $46,000 in 2013, according to the Tax Policy Center, a Washington research group. Another major piece of financing would cut Medicare subsidies for private insurers, ultimately affecting their executives and shareholders.

The benefits, meanwhile, flow mostly to households making less than four times the poverty level — $88,200 for a family of four people. Those without insurance in this group will become eligible to receive subsidies or to join Medicaid. (Many of the poor are already covered by Medicaid.) Insurance costs are also likely to drop for higher-income workers at small companies.


Finally, the bill will also reduce a different kind of inequality. In the broadest sense, insurance is meant to spread the costs of an individual’s misfortune — illness, death, fire, flood — across society. Since the late 1970s, though, the share of Americans with health insurance has shrunk. As a result, the gap between the economic well-being of the sick and the healthy has been growing, at virtually every level of the income distribution.

The health reform bill will reverse that trend. By 2019, 95 percent of people are projected to be covered, up from 85 percent today (and about 90 percent in the late 1970s). Even affluent families ineligible for subsidies will benefit if they lose their insurance, by being able to buy a plan that can no longer charge more for pre-existing conditions. In effect, healthy families will be picking up most of the bill — and their insurance will be somewhat more expensive than it otherwise would have been.

Much about health reform remains unknown. Maybe it will deliver Congress to the Republicans this fall, or maybe it will help the Democrats keep power. Maybe the bill’s attempts to hold down the recent growth of medical costs will prove a big success, or maybe the results will be modest and inadequate. But the ways in which the bill attacks the inequality of the Reagan era — whether you love them or hate them — will probably be around for a long time.

“Legislative majorities come and go,” David Frum, a former speechwriter for President George W. Bush, lamented on Sunday. “This health care bill is forever.”

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Since Mr. Obama began his presidential campaign in 2007, he has had a complicated relationship with the Reagan legacy. He has been more willing than many other Democrats to praise President Reagan. “Reagan’s central insight — that the liberal welfare state had grown complacent and overly bureaucratic,” Mr. Obama wrote in his second book, “contained a good deal of truth.” Most notably, he praised Mr. Reagan as a president who “changed the trajectory of America.”

But Mr. Obama also argued that the Reagan administration had gone too far, and that if elected, he would try to put the country on a new trajectory. “The project of the next president,” he said in an interview during the campaign, “is figuring out how you create bottom-up economic growth, as opposed to the trickle-down economic growth.”

Since 1980, median real household income has risen less than 15 percent. The only period of strong middle-class income growth during this time came in the mid- and late 1990s, which by coincidence was also the one time when taxes on the affluent were rising.

Video

Biden not the only open-mic offender
March 24: Following Vice President Biden’s expletive-enhanced celebration of health care legislation, NBC’s Lee Cowan takes a trip to the cussing hall of fame.

Today show

For most of the last three decades, tax rates for the wealthy have been falling, while their pretax pay has been rising rapidly. Real incomes at the 99.99th percentile have jumped more than 300 percent since 1980. At the 99th percentile — about $300,000 today — real pay has roughly doubled.

The laissez-faire revolution that Mr. Reagan started did not cause these trends. But its policies — tax cuts, light regulation, a patchwork safety net — have contributed to them.

Health reform hardly solves all of the American economy’s problems. Economic growth over the last decade was slower than in any decade since World War II. The tax cuts of the last 30 years, the two current wars, the Great Recession, the stimulus program and the looming retirement of the baby boomers have created huge deficits. Educational gains have slowed, and the planet is getting hotter.

Above all, the central question that both the Reagan and Obama administrations have tried to answer — what is the proper balance between the market and the government? — remains unresolved. But the bill signed on Tuesday certainly shifts our place on that spectrum.

Before he became Mr. Obama’s top economic adviser, Lawrence Summers told me a story about helping his daughter study for her Advanced Placement exam in American history. While doing so, Mr. Summers realized that the federal government had not passed major social legislation in decades. There was the frenzy of the New Deal, followed by the G.I. Bill, the Interstate Highway System, civil rights and Medicare — and then nothing worth its own section in the history books.

Now there is.

This story, "In Health Care Bill, Obama Attacks Wealth Inequality,

2 Re: Inequality on Wed Mar 24, 2010 11:56 am

runawayhorses


Owner
Good article. I heard something the other day and I don't know if its true, maybe you know, but I heard every American will by law have to pay for health insurance, in other words, by law, you have to start paying for healthcare. If you don't have any, you must now by law get some. Don't know if its true but thats what I heard. Of course it will be 2 years until the plan goes into effect, but its my understanding the law will insist everyone have a healthcare plan. I guess we wait till we see what healthcare providers are on the list of ones that will be included in this new healthcare plan Obama created. I don't know any details. Maybe someone can shed some light on this. I'd like to know more about that, thanks

Here's another question: I don't have any insurance right now, but how do I get on Obama's plan?

3 Re: Inequality on Wed Mar 24, 2010 1:54 pm

gypsy


Moderator
yes every American will have to purchase insurance,there will be extensive help for those who are poverty level.but there will be penalties for those who don't purchase insurance also all business will be requited to offer their employees insurance,

some benefits of the bill will happen almost immediately is my understanding. a lot I don't understand or know on some of this, Rosco maybe able to shed some light on it~

4 Re: Inequality on Wed Mar 24, 2010 4:21 pm

rosco 357


Veteran
well there is alot i dont know yet, yes everyone will have to purchase insurance, but it will not be till either 2012 or 2014... 2014 is when the insurance exchanges will be all set up and u can pick one to purchase ur insurance through,so i think its 2014 that u will have to purchase insurance or either pay the penalty.the exchanges they will serve like a group plan with group rates, , but thats not till 2014, not all employers will have to provide insurance they have to have over a certain number of employees, and i heard 2 numbers 12 and 50 so im not sure which it is, ,. the main thing that kicks in now is children in 6 months cant be turned down of prexisting problems, adults will have this also but it comes later, and im not sure of how long, prexisting conditions will be erased for adult, but childrens come first. kids staying on their parents insurance will go from 22 years old to 26 years old, i think that kick in in 6 months, still alot i dont know, plus the senate will pass some changes to the bill that the house voted on and sent to them to pass, i wish things came sooner than they will, wish i knew more, all the details will come out, when i learn things that have not been posted i will post them,take care

5 Re: Inequality on Wed Mar 24, 2010 4:43 pm

rosco 357


Veteran
well there may be better places to find out things, but if u go to whitehouse.gov it answers questions, but it does not give dates that these things kick in or i did not see any,so it really does not help much, be sure and not put in whitehouse .com ,, make sure u use whitehouse.gov .. not sure its this way now,but some cleaver person used whitehouse.com hoping ppl will make mistakes and it use to go to a porn sight, but not sure it still does, so do .gov

6 Re: Inequality on Wed Mar 24, 2010 4:49 pm

runawayhorses


Owner
Oh so its four years. Ok, thanks for the info. I could be dead in 4 years. Oh well.

I'll check out the site.

7 Re: Inequality Today at 10:38 am

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