Repealing Obamacare could lead to a massive windfall for America’s super-wealthy Eric Pianin, The Fiscal Times Jan 2017


Paul Ryan AP

Should President-elect Donald Trump and congressional Republicans make good on their pledge to dismantle the Affordable Care Act, the repeal of a handful of tax increases on individuals and businesses and the elimination of a federal tax credit that subsidizes health insurance premiums likely would result in a massive windfall for wealthy households and a financial setback for low and moderate-income people, according to a new study.

Indeed, the 400 highest income taxpayers in the country could receive millions of dollars in tax relief next year while middle and lower income Americans would come up empty or in the hole, according to the report by the liberal-leaning Center on Budget and Policy Priorities.

Obamacare is financed by a combination of tax increases on individuals and businesses, Medicare tax increases and cost savings measures, among others. Those taxes – which have long been criticized by Republican lawmakers and special interest groups – potentially could be wiped away if the Republican-controlled Congress moves ahead with plans to repeal Obamacare in the coming month or two, without a clear replacement plan.

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