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NY Times: In Health Bill, Obama Attacks Wealth Inequality
By Stewart Gandolf | March 25, 2010
I will be writing a lot about health care reform in the near future, but for now, I thought I would share a great article from the NY Times, “In Health Bill, Obama Attacks Wealth Inequality.”
Essentially, the article argues that “Beyond the health reform’s effect on the medical system, it is the centerpiece of his deliberate effort to end what historians have called the age of Reagan.”
Most people would have to admit recent decades have been a boon to the truly rich.
I concur. In fact, I actually have some pretty extensive business experience in the world of ultra high net worth estate tax planning (people worth over $100 million) – and I wasn’t surprised at all to read, “Real incomes at the 99.99th percentile have jumped more than 300 percent since 1980.”
However, I was surprised to learn that $300,000 is enough to make the 99th percentile, and at that level, real pay has doubled.
Lots of doctors and health care executives fit into that category, so I expect they may see a double whammy – health care reform now, and more aggressive tax legislation later.
Three things are for sure.
1. Health care reform was needed.
2. Many philosophical chasms remain between Democrats and Republicans on how to do that.
3. There are going to be a lot of winners and losers economically from health care reform.
What can you do to protect your own future now that we’ll be facing historic changes to the “system?”
I will be writing lots more on that in future posts.
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