WASHINGTON — President Barack Obama, looking to pay for his ambitious health-care plan and shore up public support, endorsed a surtax on families earning $1 million a year for the first time Wednesday.
“To me, that meets my principle” that the cost of overhauling health care is “not being shouldered by families who are already having a tough time,” he said at a prime-time White House news conference.
At a critical moment in his presidency, Mr. Obama is hoping to regain momentum on his domestic agenda by seizing control of the health-care debate. How effectively the president delivered the message in his late-Wednesday news conference — and the impact on public opinion and a skittish Congress — will have major implications for the rest of his year, and perhaps for his full term.
He also pressed his case for giving independent experts greater power over Medicare cost-cutting. He is pushing the idea partly to satisfy conservative House Democrats worried that the health legislation doesn’t do enough to control health-care spending. But the president’s strong endorsement sets up a showdown with some senior Democrats on Capitol Hill who expressed opposition to the idea earlier Wednesday.
[Read More of this article at the Wallstreet Journal >>]
Kyith is the Owner and Sole Writer behind Investment Moats. Readers tune in to Investment Moats to learn and build stronger, firmer wealth foundations, how to have a Passive investment strategy, know more about investing in REITs and the nuts and bolts of Active Investing.
Readers also follow Kyith to learn how to plan well for Financial Security and Financial Independence.
Kyith worked as an IT operations engineer from 2004 to 2019. Currently, he works as a Senior Solutions Specialist in Fee-only Wealth Advisory firm Providend.
You can view Kyith's current portfolio here, which uses his Free Google Stock Portfolio Tracker.
His investment broker of choice is Interactive Brokers, which allows him to invest in securities from different exchanges all over the world, at very low commission rates, without custodian fees, near spot currency rates.
You can read more about Kyith here.