Thursday, May 04, 2017

Obamacare repeal is a $1.5 trillion tax cut

By a 217-213 vote, the House passed a trillion-dollar tax cut on Thursday and sent it to the Senate. Every Democrat voted against it, as did 20 turncoat Republicans.

You probably think I am daft for writing that, but that is exactly what happened when the House voted to replace Obamacare and replace it with something saner. Rolling back Obamacare also rolled back the taxes the Democratic Party imposed.

Americans for Tax Reform added up the taxes repealed and the total was a trillion-dollar boost to the economy over the next decade.

The repeal-and-replacement of Obamacare:
-Abolishes the Obamacare Individual Mandate Tax which hits 8 million Americans each year.
-Abolishes the Obamacare Employer Mandate Tax. Together with repeal of the Individual Mandate Tax repeal this is a $270 billion tax cut.
-Abolishes Obamacare’s Medicine Cabinet Tax which hits 20 million Americans with Health Savings Accounts and 30 million Americans with Flexible Spending Accounts. This is a $6 billion tax cut.
-Abolishes Obamacare’s Flexible Spending Account tax on 30 million Americans. This is a $20 billion tax cut.
-Abolishes Obamacare’s Chronic Care Tax on 10 million Americans with high out of pocket medical expenses. This is a $126 billion tax cut.
-Abolishes Obamacare’s HSA withdrawal tax. This is a $100 million tax cut.
-Abolishes Obamacare’s 10% excise tax on small businesses with indoor tanning services. This is a $600 million tax cut.
-Abolishes the Obamacare health insurance tax. This is a $145 billion tax cut.
-Abolishes the Obamacare 3.8% surtax on investment income. This is a $172 billion tax cut.
-Abolishes the Obamacare medical device tax. This is a $20 billion tax cut.
-Abolishes the Obamacare tax on prescription medicine. This is a $28 billion tax cut.
-Abolishes the Obamacare tax on retiree prescription drug coverage. This is a $2 billion tax cut.
I came up with a total of $1,489,000,000,000 in tax cuts or nearly $1.5 trillion.

That is a lot of money to let the people keep.

Job well done -- well, halfway done. Time to get the Senate to repeal-and-replace Obamacare.

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  1. gadfly will likely try to tell you how you're wrong, but that's the fly for ya.
    This is encouraging!

    1. And he will no doubt end his diatribe will those familiar words "Please provide..."

    2. She'll need to sober up first.

    3. I wouldn't want to disappoint Sam, so I will not go without a comment. For those who don't understand, the Senate has said that it will not vote on the House bill, which means no reconciliation, which means that the Senate will require 60 votes to clear a healthcare bill of their own making.

      Whatever the healthcare legislation is that passes it will not be insurance. It will be government-run and that means single-payer, waiting-in-line-to-get-access healthcare.

      When will America quit accepting socialistic responses to imaginary problems, when the only real answer is free trade capitalism?

    4. The senate will strip the bill and put its own provisions in, but it will technically be the same bill, so the 51-vote reconciliation will apply.

  2. All together now (wearing your best watery eyed Cory Booker mask)...

    "Tax cuts for the rich"


    "Millions of babies will die" (actually yes, via PP)

    Na Na Na Na, Na Na Na Na, Hey heya, gooo-ud bye.

  3. The money side of this IS great. But at least to me, there's something bigger - more and more states are down to a single carrier, a few of which have already signaled their intent to vamoose because they're losing money. What then? HELLO SINGLE PAYER. Then a bunch of doctors box up their shingles. The rich and well-connected get moved to the front of the line while you and me wait 6-9 months for kidney cancer surgery. Oh darn, we died. To the Demmies no matter. We were always just numbers to them anyways.

  4. $1.5 trillion in tax cuts, huh? I'm sure that the Washington crapweasels are already planning some ways to claw at least part of that back. - Elric

  5. Better that than nothing waiting for that "perfect" bill.

  6. It would sure be nice if I had someone to represent me in the Senate; if I did, I'd sure be burning up the wires with encouragement to Do the Right Thing.

    Sadly, I live in CA.

    Did someone mention "crapweasels?" That describes both of the Senators from my State, only I'd add a few more adjectives to that title. There is no point in addressing them; I have done so for years, and occasionally get a form letter telling me, in essence, that I am deplorable, detestable, and that they are doing their best to bury me (and they're succeeding.)

    If anyone has any Senators that might listen to reason, I hope you'll contact them! Still, I'm given some satisfaction just knowing that at least the House (against all odds with Lyin' Ryan in charge) has done so well!

  7. I live in MD, so like CA no chance in hell to change senator's minds.

  8. I live in MD, so like CA no chance in hell to change senator's minds.

  9. For those "turncoats" its time for the label:


    The carrot is not working, try the stick!

    1. Use the carrot as a stick. Bam. Bam. Bam-bam-bam.