What about cutting corporate subsidies to pay for health care?

[Motown_Johnny]

Since we will be reducing the burden of health care costs to companies, why not calculate how much we can expect that reduction to be and then reduce subsidies by that much?

It may not be enough to cover all the costs but it should help counter the fears about raising taxes on the middle class.

[hedgehog]

1. I agree with President Obama and think it's time to raise taxes

on people making over $250,000. I'd tax corporations to pay for college grants to students. After all, where will the corporations be without a trained workforce?

[USA_1]

5. Why Raise Taxes???

The wealthy have over $ 12 trillion shletered in overseas assets. Why not take back all that money so that the elites pay rather than the middle class?

Haven't we subsidized the wealthy enough??

It is time to end corporate welfare.

[RC]

6. Treat corporations like real people. That will slow them down.

The government doesn't subsidize real people and taxes people much more.
Right now they are having it both ways.

[Motown_Johnny]

10. I agree that the top tax rate is to low, but that should be done as a deficit reduction bill in his

2nd term.

Restore the rates back to where they were before Regan tried his "Trickle Down" experiment that has failed so miserably for a quarter of a century now.


I just don't think we should be having both arguments at once. It would make more sense (IMO) to argue budget neutrality for the bill if you can say you are moving funds from the "corporate welfare" style subsidies into something that helps both employers and employees.

[Nipper1959]

2. I agree

Since they claim to be individuals (human beings) for tax and other corporate reasons, they should pay into everything that people have to pay into. Social Security for example could be over funded if the c ap was raised and corporations were force to pay their fair share. they are people according to the courts. If they receive the rights of people they should pay as people.

[Wapsie B]

3. I think if one were to tally up all the corporate welfare in this country

from the local, state, and federal levels the amount would be astounding. Companies would be getting one hell of a burden off their backs by not having to deal with health insurance. I'd be in favor of adjusting the tax code so that corporations pay more and take the tax load off the little guy.

[Motown_Johnny]

14. I am not suggesting a change in the tax rate here. Just saying that the direct payments from

the government to corporations could be cut by the same amount needed to fund health care (or a large portion of it).

That would mean you would not need to raise taxes to pay for health care. You simple stop giving money to the companies for other expenses and put that money toward people's health care. This will also reduce the expenses for the corporations because they will no longer be paying for employees health care.

[FreakinDJ]

4. Obama is proposing that in sorts

a figure like $500Billion to be re-appropriated to his Healthcare proposals

[Motown_Johnny]

11. any documentation on where the re-appropriated funds are coming from?

[FreakinDJ]

15. From Obama's Townhall meeting transcripts

THE PRESIDENT: Look, you are absolutely right that I can't cover another 46 million people for free. You're right. I can't do that. So we're going to have to find some resources. If people who don't have health insurance are going to get some help, then we're going to have to find money from somewhere.

Now, what I've identified, and most of the committees have identified and agreed to, including Max Baucus's committee, is that there -- overall this bill will cost -- let's say it costs $800 billion to $900 billion. That's a lot of money. That's a lot of money. That's over 10 years, though, all right? So that's about $90 billion -- $80 billion to $90 billion a year.

About two-thirds of it -- two-thirds -- can be obtained by doing some of the things I already mentioned, like eliminating subsidies to insurance companies. So you're right, that's real money. I just think I would rather be giving that money to the young lady here who doesn't have health insurance and giving her some help, than giving it to insurance companies that are making record profits. (Applause.) Now, you may disagree. I just think that's a good way to spend our money.

But your point is well taken, because even after we spend -- even after we eliminate some of the waste and we've gotten those savings from within the health care system, that's only two-thirds. That still means we've got to come up with one-third. And that's about $30 billion a year that we've got to come up with. Now, keep in mind the numbers change, partly because there are five different bills right now. This is all going to get merged in September. But let's assume it costs about $30 billion a year over 10 years. We do have to come up with that money.

When I was campaigning, I made a promise that I would not raise your taxes if you made $250,000 a year or less. That's what I said. But I said that for people like myself, who make more than that, there's nothing wrong with me paying a little bit more in order to help people who've got a little bit less. That was my commitment. (Applause.)

http://www.kaiserhealthnews.org/Stories/2009/August/14/transcript-Obama-Montana.aspx

[Motown_Johnny]

16. Thanks for that.. but the comment is specific to insurance companies, I am talking about all

corporations.

A flat 10% decrease in all direct corporate subsidies re-allocated for universal health care coverage (for example)

[ellenfl]

7. actually, since obama says any person making over $250M

will be taxed, that should include corporations which are technically 'persons'. maybe THAT is the secret of the reform financing. wouldn't THAT be grand! :headbang:

ellen fl

[Motown_Johnny]

9. I think you mean .. over 250 K (not M)

[ellenfl]

18. no, 250m also means 250,000. you use 'k', i use 'm'.

both are valid. i believe the use of 'm' is more archaic and is based on roman numerals. however, as a banker, i have been using 'm' to represent 1,000 for 30 years to no ill effect.

i think computer terminology (kb, mb, etc) has forced the use of "k" more when referencing monetary values.

ellen fl

[Imperfect World]

8. I agree. Get rid of corporate welfare.

I voted for Mike Gravel in November, because I knew that Senator Obama had often voted for corporate welfare and bailouts.

All that money that was given to AIG, General Motors, etc., could have gone a long way in funding H.R. 676, the single payer bill.

[lpbk2713]

12. You'd hear OxyRush squealing for miles.

And he wouldn't even need a microphone.

Therefore, I think it's an excellent idea.

[Motown_Johnny]

13. ROFL.. but I don't know if even he can piss on this idea so long as it is budget neutral

[Cleita]

17. How about taxing companies who outsource jobs overseas?

Since they no longer have the burden of payroll and health plans, they should have plenty of free money to tax.