The tax credit McCain claims will offset this new burden would rise only at the rate of inflation—not the rate of health care costs, which grow much more quickly—so that by 2018 a family earning $40,000 a year will be paying $2,800 in higher taxes, even with McCain’s tax credit.
The health care tax exemption does more than lower families’ tax burden; it also provides an incentive for businesses to offer health care benefits to their employees. Without the exemption, an estimated 11 million to 27 million people nationwide will lose their employer-sponsored health insurance. more »
McCain’s plan will sink anyone with a pre-existing condition. Plenty of families won’t be able to obtain health coverage at any price, since the McCain plan offers no protection for those with pre-existing conditions. That will allow insurers to refuse to cover an estimated 56 million people who have preexisting conditions such as cancer or diabetes
Two studies found that about half of families facing foreclosure reported that their financial difficulties were caused by health care issues such as unmanageable medical bills or missing work due to a medical problem.
washingtonpost.com — Over the past decade, insurance premiums have grown much more quickly than wages and inflation. That wasn't the case this year. But to help slow the costs of health insurance, companies are increasingly offering coverage that requires their workers to pay more of their medical expenses before the insurance will kick in.
But the current crisis has long roots. America's working families have been suffering through what is now a generation-long stagnation of wages and rising economic insecurity. Steps must be taken immediately to shore up our flagging economy and provide much-needed assistance to working families.
At the Denver convention, Sen. Barack Obama gave a very fine acceptance speech, but not a great one. Winning the battle against conservatism requires going beyond personality and empathy and clearly—and extremely briefly—stating the case for progressive reform.
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