Friday, May 5, 2017
How Paul Ryan Designed The Healthcare Bill To Finance Tax Cuts For The Wealthy
This article explains how the healthcare bill, primarily designed by Paul Ryan, financed a tax cut for wealthy Americans. Ryan's plan cuts federal spending on Medicaid which was built into Obamacare by around $800 billion over ten years. That allows Ryan to eliminate the taxes in Obamacare which were put in the plan to fund Medicaid without adding to the federal budget deficit. In other words, Ryan's plan is basically a way to finance the tax cut. The CBO believes that 14 million Americans will lose healthcare benefits so that taxes on high income Americans can be reduced. I doubt that Trump has any idea about how this works. Ryan has built his career around reducing federal spending on entitlement programs in order to cut tax for wealthy Americans.