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Right now, healthcare costs in this country run about $2.5 trillion a year, or nearly 18 percent of the national economy.
In Michigan today the president was fired up over health reform, telling a cheering crowd, "We have no choice but to change the healthcare system, because right now it's broken for too many Americans."
Major provisions of the bill include:
1. Federal subsidies for low-income Americans to help them buy health insurance;
2.Penalties for large companies that refuse to provide insurance;
3. Penalties for individuals who refuse to buy it; and
4.A government health insurance plan to compete with private ones
Republicans condemned the bill. House leader John Boehner said,"This so-called public option is going to force millions of Americans out of their private health insurance into a government-run plan," he said
What Boehner didn't say was the government plan should cost about 50 per cent less. Corporations and Americans making more than $400,000 a year will shoulder much of the cost of the program. To help pay for the new plan, the bill would slap a new surtax of up to 5.4 percent on those with incomes of more than $400,000 a year.
Source: http://www.cbsnews.com/stories/2009/07/14/eveningnews/main5160126.shtml?tag=cbsnewsSectionContent.7
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