Tuesday, September 1, 2009

Funding Recommendations for President Obama's Health Care Reform

More and more people are beginning to disapprove of Obama's health care reform as time goes by. Les Leopold detailed in this recent article in The Huffington Post a couple of things President Barack Obama could do to gain back the trust of the public with his health care reform. Les mentioned that Obama has yet tapped into the wealthy in order to fund the health care reform, even though Wall Street has received a bail out. Here are some things Les believes the president should consider:

1. Increases taxes on those who have adjustable gross incomes of over $1 million a year.
By collecting an extra 10 percent surcharge for health care from these wealthy returns we can collect an extra $140 billion per year.
2. Place a 90 percent windfall tax on Wall Street profits and bonuses.
If executives are able to still collect bonuses from banks that we own, then the majority should be taxed back to us. It is only fair.
3. Install a very small tax on each and every financial transaction on Wall Street.
A fee on Wall Street transactions would generate nearly $50 billion a year.

Do you agree with Les Leopold's recommendations?

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