Lyndon B. Johnson

Robert B. Reich: Health-care bill is a giant wealth transfer to the rich

Robert B. Reich: Health-care bill is a giant wealth transfer to the rich

The Senate's bill to repeal the Affordable Care Act is not a health-care bill. It's a tax cut for the wealthiest Americans, paid for by a dramatic reduction in health-care funding for approximately 23 million poor, disabled and working middle-class Americans.

America's wealthiest taxpayers (earning more than $200,000 a year, $250,000 for couples) would get a tax cut totaling $346 billion over 10 years, representing what they save from no longer financing health care for lower-income Americans.

That's not all. The bill would save an additional $400 billion on Medicaid, which Senate Majority Leader Mitch McConnell, House Speaker Paul Ryan and President Donald Trump are intent on...

75°