Obamacare repeal means big tax cut for the wealthy
This is another reason Republicans are committed to getting rid of Obamacare.
The Tax Policy Center, a nonpartisan nonprofit based in Washington that provides analysis of tax issues in policy, finds in a new report that the net effect of Obamacare repeal is a massive tax cut for the rich.
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TPC estimates that the top 1 percent of earners would get an average tax cut of $33,000 if Obamacare is repealed — and those in the top 0.1 percent would get an average tax cut of $197,000.
Meanwhile, those who earn less would actually see their taxes, on average, go up. This is because most of the tax subsidies to purchase insurance coverage through the marketplace go to low-income Americans. TPC estimates that, on average, Americans who are in the bottom quarter of earners would see their taxes increase by $90.
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