In healthcare bill, Obama attacks wealth inequality

New York Times, March 24, 2010

The health reform bill that President Obama signed is the federal government's biggest attack on economic inequality since inequality began rising more than three decades ago, the New York Times reports. A big chunk of the money to pay for the bill comes from lifting payroll taxes on households making more than $250,000. Another major piece of financing would cut Medicare subsidies for private insurers, ultimately affecting their executives and shareholders. The benefits, meanwhile, flow mostly to households making less than four times the poverty level. Those without insurance in this group will become eligible to receive subsidies or to join Medicaid, the Times reports.


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