Tuesday, November 20, 2018

Soak the rich

Republicans tried to repeal and replace Obamacare and failed by one vote when Senator McCain voted against the bill. As the republicans floundered around for two years since the Trump election the democrats said the republicans were going to take away the pre-existing clause which of course was always there in Medicaid. The 2018 midterms centered around this pre-existing clause and the democrats won back the house on the promise that they would bring down health care cost while protection the pre-existing condition clause. They are now in the same position the republicans were in and must find a solution to the rising cost of healthcare. The only plan that is being discussed is government healthcare for all and polls show support for this and certainly companies are for it so what is the hangup. How to pay for it. The total wealth of the people in the US is $67 trillion and the top 10% own 76% of that or $50 trillion dollars. A 7% wealth tax on these people would provide $3.5 trillion dollars per year and that would cover the cost of healthcare for all. Since the wealth of the world rich grew by 19% last year they would still be ahead. With the rise of social democrats the country may be ripe to pick the pockets of the rich. Let's see how it goes.

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