The tax would kick in on plans exceeding $23,000 annually for family coverage and $8,500 for individuals, starting in 2013. In the first year it would affect relatively few people in the middle class. But because of the steadily rising costs of health care in the U.S., more and more plans would reach the taxation threshold each year.
Within three years of its implementation, according to the Congressional Budget Office, the tax would apply to nearly 20 percent of all workers with employer-provided health coverage in the country, affecting some 31 million people. Within six years, according to Congress’s Joint Committee on Taxation, the tax would reach a fifth of all households earning between $50,000 and $75,000 annually. Those families can hardly be considered very wealthy.
This is surprise. Bob Herbert has been one of the most doctrinaire liberals at the NYT. (It’s not like he doesn’t have competition for it though)
Now he’s worried that the increased taxes on medical insurance is going to hit the middle class?
Hello? Have you been so engrossed in your Obama campaign collection that you haven’t noticed what has been going on in Congress the last few months? Are you telling us that Obama’s promise that the tax burden will only fall on “the rich” might have been a little disingenuous?
It might only mean that Herbert feels comfortable enough that the ‘healthcare bill” is going to become law that he can write columns pointing out the problems. That’s insurance for down the road when he gets accused of being oblivious to the tax increases. No one is going to notice then that his column was a couple of weeks too late.