An Alternative to Obama's Healthcare Reform

Obama has seem much opposition to his proposed healthcare reform. Here in The Ithaca Journal Bob Yates suggests an alternative to Obama's healthcare reform. Bob suggests that instead of setting up a new plan that would be cheaper than private plans but yield high taxes, we should open up Medicaid and Medicare to everyone and allow people to buy into Medicaid which is on average $8,000 a year.

He also suggests a dollar-for-dollar credit on medical spending on everything. While this seems like a great alternative, is it really feasible?