Editorial Rips John McCain's Plan for Healthcare
The latest Concord Monitor (NH) editorial ripped John McCain's 'plans' to "blow up" the current healthcare system that would leave far fewer Americans with insurance.
McCain would blow up the current system and ensure that fewer Americans are covered. He wants to eliminate the tax deduction employers get for providing health insurance. Instead, he would give tax credits to individuals and families to make it easier for them to purchase insurance on what he believes will be a new, bigger open market that will compete to lower health care costs. The credits would be $2,500 per individual and $5,000 per family.
There are more components to the McCain plan - portability of insurance from state to state, for example - but none would offset the enormous damage his on-your-own in a wide-open market approach would do.
McCain's "risky" plan would leave the average American family on the hook for thousands of dollars to cover their basic healthcare needs each year.
While the decades-old system of employer-sponsored health insurance has its shortcomings — many small businesses can’t afford to offer it — killing the tax exemption will lead to a stampede of large employers discontinuing their more affordable, group health plans. Those comprehensive plans cost more than $12,000 a year for the average family; with a tax credit of just $5,000, they’d be left to find $7,000 a year to buy comparable coverage. Put simply, the tax-credit scheme won’t work.
And since McCain likes to lie about taxes on the stump and in his attack ads, it is worth noting that McCain recently admitted that his healthcare plan would actually raise taxes on Americans to pay for it.
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