Joe Biden (Photo YouTube/ 60 Minutes)
US President Joe Biden acts responsibly and when he wants to increase the US state health insurance budget, he looks for (and probably finds) sources of funding in the form of a tax increase on those with high incomes.
It is true that those with an annual income of $400,000 or more pay a 3.8% tax designed to finance Medicare and now Biden wants to raise this tax to 5%. Biden will exclude some of the self-employed and those with additional income that is not from work (i.e. salary) and passes the $400,000 per year threshold to the recipients of the money.
More in-
Medicare was launched by US President Barack Obama and became a controversial program to the point of loathing by extremist elements in the Republican Party such as the ‘Tea Party’ movement and so on. Donald Trump actually set himself the goal of canceling the expansion of the program out of an outdated belief that there is no need for broad subsidies of health services and worked to reduce the benefits as well as to reduce the services for those who cannot afford to purchase even basic health services.
As mentioned, when the Democratic Party returned to power, President Biden began working to return the subsidy for health services to the path set by President Obama, and of course this plan of Biden’s is met with opposition from the Republican Party.
Biden wants to create a reserve of 200 billion dollars in the next decade for the program, with the purpose of the money being the financing of prescription drugs for those who are eligible. At the same time, Biden will allow the insurance companies to conduct independent negotiations on adding drugs to the program and thus receive a government subsidy for additional drugs.
Let’s recall that in the US a very problematic situation has arisen where too many Americans are not insured with any kind of health insurance and therefore when they encounter a poor health condition that requires professional medical intervention they do not purchase it due to the lack of pocket money and create an ongoing problem on the one hand of medical deterioration that takes them out of the workforce and so on and at later stages These people become a problem for the taxpayers and hence the need to improve the health status of Americans by subsidizing the services for those who are unable to purchase private insurance.
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