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The cost of Health Care Reform, can you afford it?

Considering that if the bill passes and we have to start paying additional taxes to pay for this so-called reform, how many of you are living paycheck to paycheck and can't afford to have a hike in taxes to pay for this? Realize please that it will effect everyone, not just those making over $250,000 / year.

So those that are in the $25,000-$60,000 bracket, is this even managable for your budget?

If not, what will you be able to do without so that in several years the likely benefitiaries will be able to get help (also realize that it is far more likely that the threshold of those that this plan will help will dramatically reduce to those that are already being provided for through PA)?

 
Anonymous

Asked by Anonymous at 9:29 AM on Mar. 4, 2010 in Politics & Current Events

This question is closed.
Answers (22)
  • How much of a tax hike are we talking?

    It's broken into sections - one will be a medicare tax hike, which means every single person in the country will pay more, regardless of tax bracket. (and the first people hit will be retirees on fixed incomes whose IRAs were wiped out when the market dropped under Obama's 1st year) Another will be a huge income tax hike on people who make above a certain income level, which means those people, who are in that bracket because they are employers and service providers, will pass that tax on to consumers, so every single person in the country will pay more, regardless of tax bracket. Third one is capital gains tax, which is another one people think only applies to "rich people" because they don't realize it will be offset by increasing the prices of goods and services, so every single person in the country will pay more.
    NotPanicking

    Answer by NotPanicking at 9:41 AM on Mar. 4, 2010

  • How much of a tax hike are we talking?
    SleepingBeautee

    Answer by SleepingBeautee at 9:32 AM on Mar. 4, 2010

  • Unfortunately, we don't get to know until they pass the bill and we get to start paying for it. And then 4-6 years down the road they will actually be able to tell us who will get to benefit from it.


    Not to mention the fact that those that choose to not have insurance will be required to purchase it on top of paying extra taxes to pay for those that can't afford it.

    Anonymous

    Answer by Anonymous at 9:35 AM on Mar. 4, 2010

  • I hear all the time 'if this or that happens, it would mean that you'd have to pay for it in taxes- so isn't it awful?'
    there are things that I would be willing to pay for taxes for, but how much?

    Anonymous

    Answer by Anonymous at 9:35 AM on Mar. 4, 2010

  • regardless, our health care system is in the toilet.
    I personally feel that it can't keep going like it is- so no matter what I hope to see changes
    Anonymous

    Answer by Anonymous at 9:36 AM on Mar. 4, 2010

  • Like I said, we don't get to know until they pass it. It's an unknown amount.


    Also consider that as baby boomers start to retire and get on medicare the taxes they are collecting now will be used up in medical costs to the elderly. This is just a way to fund a failing and bankrupt Medicare system without providing for the original wage earners that are supposed to benefit from this in 4-6 years time.

    Anonymous

    Answer by Anonymous at 9:39 AM on Mar. 4, 2010

  • Changes yes, but this so-called reform does not address the major costs of health care.
    Anonymous

    Answer by Anonymous at 9:39 AM on Mar. 4, 2010

  • I don't know how anybody in the middle class thinks they can afford this travesty. My DH and I have raised our children, they are no longer in the home, and he is at the top of his earning years, We STILL cannot afford an unspecified tax hike. God only knows how those of you with children to raise will do it. The thing I can see happening with this is the whole country implodes, or becomes a third-world country, with no middle class, only the very, very rich and the very, very poor. When that happens the rich will have tax shelters in place, and there will be nobody to pay for the social services to help the poor, of whom the numbers will multiply tremendously. The poor, and the formerly middle class who will then be also poor, will have to lay down and die in the streets. There will be no health services for ANYBODY, much less food stamps, subsidized housing, WIC, unemployment, or anything else to help save them.
    pagan_mama

    Answer by pagan_mama at 9:45 AM on Mar. 4, 2010

  • I know how we might handle it...I will close my business and retire early...thus dropping us into a lower tax bracket. That will put at least 3 people out of a living wage job and will triple the cost of therapuetic equipment that my company supplies to a dozen different school districts across the country...not to mention clinics, preschools and private homes.

    The capital gains tax will also affect pensions and a lot of them are already in trouble because of the housing bust & govt takeover of different industries.

    It is "this" kind of crap that is helping to keep unemployment up. If they pass this it will get even worse as companies assess their new tax burdens.
    yourspecialkid

    Answer by yourspecialkid at 9:57 AM on Mar. 4, 2010

  • The Medicare tax hike will affect EVERYONE who is working, even the working poor.  The capitol gains tax will affect many middle class people who have modest investments earmarked for their children's education or retirement. 


    So much for the "only tax the rich" rhetoric.


    The weird thing is, we still don't know what kind of health care we will get or how much it will cost, in addition to the taxes we will pay.

    mancosmomma

    Answer by mancosmomma at 9:57 AM on Mar. 4, 2010