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Outrage over $400 million tax break for insurance executives under GOP Obamacare replacement plan
Democrats on Wednesday broadly blasted a proposed Obamacare replacement bill after learning the federal government would lose about $400 million in lost tax revenue over the next decade due to a sweet break for health insurers.
Rep. Sander Levin, D-Mich., said that the tax break related to executive pay underscores the fact that the Republican replacement bill is "the beginning of a huge giveaway to the very, very wealthy," and the end of insurance coverage to millions of lower-income people.
"We're starting off... with essentially a giveaway to insurance executives," Levin said.
The proposed tax break, buried in cryptic language in the Republican plan, would allow health insurers to more fully deduct the value of their executives' compensation on their taxes. That compensation can be as high as tens of millions of dollars, in the case of CEOs of insurers.
Outrage over $400 million tax break for insurance executives under GOP Obamacare replacement plan
Making America Great .... Again :lamo
The Snowflake-in-Chief and his plutocrats-in-arms are busy giving America back to the people.
And the poor and working class whites thought they were draining the swamp with a vote for Trump! :lamo
$40 million a year is candy money at best, it barely matters, and maybe just maybe there is a good reason to do it. Let's hear all sides of the story before deciding MKay?
The Obama who is fine with spending $4.5 billion per destroyer and $185 million for one fighter jet.Odd.
I don't remember hearing any of these justifications from anyone on the right when the debt ceiling was reached during Obama's tenure.
I'm just going to copy and paste this quote above when I see someone condone as insignificant or justified, some amount of spending by Trump that would have earned Obama an exasperated plea for "common sense spending" or just called him an idiot for spending whatever amount it was that he spent.
The Obama who is fine with spending $4.5 billion per destroyer and $185 million for one fighter jet.
Get real.
So $4.5B for a navy destroyer is not ok, but handing $40 Million to execs for no reason is sound policy?
You get real.
Alleged facts not in evidence.
Now THAT's real!
Did you read the article?
$40 Million per year.
Outrage over $400 million tax break for insurance executives under GOP Obamacare replacement plan
"Thomas Barthold, chief of staff for the Joint Committee on Taxation, revealed the $400 million lost tax revenue estimate during the first day of review of the Obamacare replacement bill by the House Ways and Means Committee.
Barthold said that would be the total amount lost through 2026 if the bill became law this year."
I got no cutesie ending, since it's just the JCT's estimate, and not "real".
The fact that our government routinely cant or wont project costs worth **** is a whole nother kettle of fish...**** rhymes with fish BTW, these infantile word blockers tend to ruin my fun.
how dishonest the media is beyond me.
it isn't a tax break for insurance executives. it is for the insurance company itself.
ranting of how dare people keep more of their money.
If health insurers are allowed to deduct very large compensation packages paid to their executives, won't that provide a subsidy for larger executive compensation packages? Isn't the tax benefit in fact going to the executives and not the companies?
When a corporation pays a smaller amount in taxes, the lost revenue is either collected from other taxpayers, like middle class and working class families, or else it adds to the deficit. It can be argued that federal spending could be cut to compensate for the loss, but there's nothing in the bill that points to any such cut to balance out this proposed $400 million tax expenditure.
You said it!
It's definitely "beyond" you and your capabilities. Yet you pass up no opportunity to lambaste that same media that you clearly don't understand, whenever you perceive it as critical of your Dear Leader.
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