If you’re wealthy, get ready to pay: Tax policy shift will boost coverage
Palm Beach Post (Florida)
By: Stacey Singer, Palm Beach Post Staff Writer
The health care overhaul that became law last week reaches beyond regulation of the insurance industry and upends almost 30 years of trickle-down economic policy by imposing new taxes on the wealthy and providing subsidies for the poor, accountants and tax experts said.
The new taxes will raise about $156 billion toward the $938 billion overhaul that is expected to expand insurance coverage and ultimately cut the deficit over 10 years, according to Congressional Budget Office estimates.