Tag: Trump swamp swampier

Of course there’s a massive tax cut for the super-rich included in Trump’s Obamacare lawsuit

AlterNet logoThere’s a dollop of cream on top of the shit sandwich that is the Trump-backed lawsuit in front of the Supreme Court to overturn the Affordable Care Act (ACA). That’s of course the big sweetener for the people who matter most to Republicans: the Uber Rich. It’s not just taking health care away from the plebes, as satisfying as that would be for Republicans. No, it has to come with a hefty tax cut for the wealthiest—and of course it does.

The highest income 0.1% of households—those making more than $3 million annually—will get tax cuts to the tune of $198,000 if the law is completely overturned, the Tax Policy Center estimates. Now, $200,000 to someone making more than $3 million is more or less couch change, but you can bet they won’t turn it down. It’s not just the richest among us who gain. Those making over $1 million a year would see about $42,000 back in tax cuts. The total loss of revenue should the law be overturned would be about $30 billion in 2020. That itself would pay for Medicaid coverage for more than 4 million people, just for some perspective. (By the way, if the law goes down, Medicaid expansion goes with it.)

The taxes involved are mostly on high earners in their Medicare taxes. The ACA has a a 0.9% tax on earnings over $250,000 for couples ($200,000 for single filers), with the revenue going to the Medicare Trust Fund. So the repeal would also destabilize Medicare, which is a side bonus for Republicans. The law imposed a larger, 3.8% tax on unearned income (capital gains, dividends, taxable interest, and royalties) for couples with incomes over $250,000 ($200,000 for single filers). The loss of various other revenue generators in the law—a $2.8 billion annual fee on pharmaceutical companies, limits on contributions to medical Flexible Spending Accounts, and the ACA employer mandate requiring large employers to provide health care to workers—all contribute to the overall losses. Continue reading.

Whistleblower alleges Trump administration ignored coronavirus warnings

Axios logoRick Bright, the former director of the U.S. Biomedical Advanced Research and Development Authority (BARDA), filed a whistleblower complaint Tuesday alleging that the Department of Health and Human Services failed to take early action to mitigate the threat of the novel coronavirus.

Flashback: Bright said last month he believes he was ousted after clashing with HHS leadership over his attempts to limit the use of hydroxychloroquine to treat the coronavirus.

What’s new: In his complaint, Bright claims he was excluded from an HHS meeting on the coronavirus in late January after he “pressed for urgent access to funding, personnel, and clinical specimens, including viruses” to develop treatments for the coronavirus should it spread outside of Asia.

  • Bright alleges it “became increasingly clear” in late January that “HHS leadership was doing nothing to prepare for the imminent mask shortage.”
  • Bright claims he “resisted efforts to fall into line with the Administration’s directive to promote the broad use of chloroquine and hydroxychloroquine and to award lucrative contracts for these and other drugs even though they lacked scientific merit and had not received prior scientific vetting.”
  • He adds that “even as HHS leadership began to acknowledge the imminent shortages in critical medical supplies, they failed to recognize the magnitude of the problem, and they failed to take the necessary urgent action.” Continue reading.