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President Barack Obama is pressing U.S. House Democrats to drop their opposition to a tax on high- end insurance plans as lawmakers try to craft a final health- care measure by early next month, a Democratic aide said.
The president expressed a preference for a Senate proposal to tax so-called Cadillac plans in a meeting yesterday with House Speaker Nancy Pelosi and top party lawmakers, the aide said. The White House meeting came on the eve of a conference call Pelosi plans for noon today with her chamber’s Democrats.
He finally admits it so that his sheeps can take it to the bank. What does it take you so long to admit it, Obama?
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As long as it doesn't increase the taxes on "those earning less than $250K, Obama can keep his PROMISE. If it does, it'll be just another lie he has committed.
Does this man realize that he can't continue lying time after time. These aren't just words....
THEY ARE LIES.
I can't find an article specifying if the "cadillac plan tax" is dependant on income. I doubt it will be in the final bill. From what I read, this tax was in the Senate bill. The House bill had a surtax on those earning more than $500k a year. We'll just have to see what happens in the final bill.
__________________ “If you have been voting for politicians who promise to give you goodies at someone else's expense, then you have no right to complain when they take your money and give it to someone else, including themselves.” ~ Thomas Sowell
Also the floor defining a "Cadillac Policy" is pegged to the national inflation rate, not the insurance premium increase rate so over time more and more policies will be "Cadillacs".
It's an excise tax, which in application would incentivize insurance companies to design plans which do not meet the taxation threshold. Thus, over time, we would expect to see fewer Cadillac policies, not more.
Incidentally, it's one of the more robust cost-control mechanisms in the bill.