A universal health care bill (which excludes coverage for illegal immigrants) came out of the house yesterday, with its main source of funding coming from a tax on the wealthy. The Economist hates the bill and Salon likes the tax, as do I, mostly because I am not wealthy and thus will be unaffected. I kid. But seriously, taxing the upper 1% is not such a bad idea and if I were lucky enough to fall in that category, I would gladly pay my taxes so that 97% of Americans have health insurance, which is the percentage of Americans estimates say the bill will cover. Having less people uninsured is favorable and better for our economy, in the long run. Healthy people tend to live and work longer. But along with our health care, we need to reform our education system if we hope to have a thriving economy.
I suspect the bill will come out of the Senate looking much different and the tax may very well not make the final version. Another possible funding option I have read about is eliminating the charitable tax deduction, with opponents arguing that it would curtail charitable giving. I admit I am behind on this discussion but eliminating the charitable tax deduction seems like a good idea, too. I doubt it would affect giving that much and it would probably be easier to swallow than a new tax. Just seems different, psychologically.
Here is The New Republic’s take on the bill and its fallout.