New Healthcare Reform Plan Critical to Obama

Washington DC, USA, 23 July 2009. Both Clinton and Obama were elected with key policy plans for healthcare. Clinton’s didn’t work out so well. While Obama is still popular, his ratings are starting to suffer during uncertain economic times and unproven healthcare policy. Will his healthcare plans fail too?

Washington DC, USA, 23 July 2009. Both Clinton and Obama were elected with key policy plans for healthcare. Clinton’s didn’t work out so well. While Obama is still popular, his ratings are starting to suffer during uncertain economic times and unproven healthcare policy. Will his healthcare plans fail too?

Healthcare reform has always been a big priority for Democrats, who see the US system as being beneficial only to those that can afford insurance. Republicans see it as a tax-and-spend approach which takes away hard-earned money from those that have realized the American Dream (the richest).[br]

Clinton’s failure weakened the Democrats and allowed for the GOP to block other Clinton proposals and take over Congress. Obama is painfully aware of what is at stake if his plan fails as well.

The plan aims to provide insurance coverage to the 46 million Americans that don’t have it now, without incurring government costs. Yet an estimated $1-1.5 trillion over the next decade is needed.

So where is this money going to come from? Fiscally-conservative Republicans are not happy, and even some Democrats are still reeling from the sticker shock.

Surcharges will be imposed on those that earn between $350,000 and above, which will range from between 1 percent of adjusted gross income to 5.4 percent.

Though many don’t believe that’s the end of it. According to a poll done by Rasmussen, 78 percent of voters feel this plan will end in more taxes on them, the middle class, and not only the richest of the rich. [br]

The plan imposes requirements on most companies to provide “acceptable” health coverage for its employees, or else face penalty taxes of 8% of payroll.

In a CNN poll, 47 percent have voiced their approval of Obama’s health care reform plan, with 44 percent disapproving.

Passing this plan will require solid bi-partisan support.

On Wednesday, White House Communications Director Anita Dunn said, “[The Senate] is working in a bipartisan way and despite all of the cacophony of attacks you’ve heard from some Republicans, I think you’ve got to give some credit to the Republicans on the finance committee who are making right now a good faith effort, despite pressure, probably from their own party, to work with Democrats to try to come up with something that people can get behind.”

“I think the president is right. He really does want a bipartisan effort,” agreed Tom Coburn, R-Oklahoma. “And that’s what it’s going to take for it to be for the American people.”

Hiroko Mirafiori, EconomyWatch.com