Can’t Raise Taxes? Hike Medicare Premiums Instead
Raising taxes on millionaires may be a non-starter for Republicans, but they seem to have no problem hiking Medicare premiums for retirees making a lot less.
The House is expected to vote Tuesday on a year-end economic package that includes increasing premiums for “high-income” Medicare beneficiaries, currently those making $85,000 and above for individuals, or $170,000 for families.
Just the top 5 percent of Medicare recipients now pay higher premiums, a policy that went into effect a few years ago. The new GOP proposal would expand that over time to include the highest-earning one-fourth of seniors.
Some would pay as much as several hundred dollars a month more for Medicare outpatient and prescription coverage. Millions who don’t consider themselves wealthy would also end up paying more.
On Monday the White House was mum on the Republican Medicare proposal, while AARP said it’s tantamount to a new tax. In the Democratic-led Senate, there’s not much enthusiasm.
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Read More at Official Wire By Ricardo Alonso-zaldivar, By AP and Official Wire
