The Trump-GOP tax plan will add to the national debt by $1 trillion (Joint Committee on Taxation) or $1.4 trillion (Congressional Budget Office). Under the pay-as-you-go (PAYGO) law, Congress will need to make a choice to cut Medicare or to allow the increase of the national debt. The PAYGO law says that the revenue shortfall … Continue reading Will New Trump-GOP Tax Plan Trigger PAYGO Cuts to Medicare?
Politicians in Washington have been wrangling over healthcare and tax cuts since January 2017 (really, since 2009). They got a couple of things right. First, they realized that health spending amounts to an 18% excise tax on all economic activity; that’s how much of GDP we currently spend on healthcare. And that’s where real “tax … Continue reading Real Tax Reform: Cutting the Healthcare “Excise Tax”