the right is overjoyed for anynumber of different reasons that under president trump obama careis likely to be destroyed, but there is one particularfinancial incentive towards that destruction that you may not befamiliar with, so we are going to focus on that in thisvideo today. that has to do with two taxes. they will presumably be askedwith the law affect only those with the making ã± making$200,000 or more. the break the aca repeal willbring to those taxpayers will
amount to a $346 billion - video buffering ã± making more than $200,000 peryear. let's break down what those twotaxes are, and why they were initially put into the billand what will happen when they get rid of them. the taxes in question are knownas, the medicare tax on higher income individuals, andthe net investment income tax. but again, it only applies tothe income that exceeds the
$200,000 threshold. the net investment income tax isa levy meant to complement the medicare payroll tax. it applies on investment incomesuch as capital gains, dividends and interest income for thosemaking, again, $200,000 or more. and it's not like, this couldtheoretically happen, it will be interesting won't it,no, people are aware of it. the former tax policy director ã± it was for a conservativethink tank ã± said, "to me
personally, that's the best partabout repealing obama care. because on the healthcare sideof it, you have this comp located replace the market ortwo after that, but on taxes it's all easy ã± it's alldessert." there you have it, there's theelection. he just ruined dessert for me. that was the whole point of thiselection, dessert. that's what the republicans havealways wanted ã± yummy tax break ã±
buffering ã± you're making a good living. you're not a billionaire, andif you live on the coast, those folks actually think theyare struggling. you know that's not true, butthat's how they feel, but it's okay, they are going to have atax increase to $467. and believe me, they are notgoing to feel it. -- happens to people making over$1 million. do you know how much they'regoing to save from these trump
tax cuts from just repealingobama care? on average, each one of them isgoing to save over $36,000. so what you did by electingdonald trump, is he gave every millionaire in the country$36,000 to put in their pockets, and now, all those 20 ã± 30million people are going to be uninsured, because they say, ohwe'll replace obama care, but in order to pay for that you neededthe ã± these taxes ã± you think they are going toincrease taxes later?
inconceivable, so they will haveno money to do any kind of healthcare plan. there's going to be no replacingof the health care plan, so whatever they replace it withwill be bare-bones. it won't be able to cover you atall, and so all of you ã± not every person in the country, ifyou are employed i get it, you have insurance through youremployment, etc. ã± but there's going to be literally tens ofmillions of people left uninsured, and for all of us,we're going to have much worse
insurance, and go back to thedays possibly of, you have a pre-existing condition, you're ahuman being, you once sprained her ankle, that's it,pre-existing condition, i don't cover you, you give me the moneyand i give you nothing in return. we're going to go back to thosedays so that every millionaire in the country for $36,000 intotheir pocket. congratulations on voting fordonald trump. and that is just a side effectof what they are getting
for the aca being taken away. we've already broken down thatfor those in the .1%, the actual tax cuts he's goingto pass will literally put millions of dollars into theirpockets. this is just a little bit ofdessert sprinkled on top. is going to drop. many of them will have to goback to using the emergency room for routine stuff, because theydon't have insurance, and for
those who are able to get it,they are going to ã± taken away. so, you know, at what point ã±you think this pushes us towards joining the rest of theindustrialized world and getting single-payer health care? i think this will push us to itcloser. i saw the video that eric wilderdid with the transporter at the $15 rally, fight for 15, and hesaid, the people who voted for trump, we know he's a con man ã±i mean, southerners don't like
him, he's a northern yankeejackass running his mouth from new york city, they didn't likehim, but he makes the point that, that's how desperate wewere for someone to give us something that we could grasponto. so maybe now, obviously, you andi, they are going to make life worse for americans. so, if we remembered whathappened after six years of george bush, people had enoughof it, and we had a black guy as our president, a democraticsenate and house, a filibuster
proof majority for a couplemonths there, and what do we do? we took that opportunity to donothing for people except pass a right wing healthcareplan. we didn't break up the banks, wedid have a revolution. you know, we had the reaganrevolution, the new deal, the antitrust, the civil war,it's time for another one, and hopefully this horriblegovernance of donald trump will wake people up to it, andhopefully we'll get rid of these corporate democrats, andthat's what it's going to take.
nancy pelosi already says thatshe doesn't think the democrats want a new direction. she's wrong, that's why i'murging people to start a third party, i'm trying to see ifbernie will do that, but i don't think that will happen. but i think trying to fix thedemocratic party is going to be a fools errand. i think it will be difficult, ithink starting a third party is infinitely more difficult cult.
remember ross perot? back in 1992, people were sickof this shit. now 40% of the country considersthemselves not affiliated with either party. but people think ross perot gavethe election to the democrats. he did. that is generally what can endup happening. he was incredibly successful,but he didn't come anywhere close to becoming president.
but we could have a realprogressive movement, and a real coalition government. anything is possible, i wouldlove for us to go back to like, the new deal or something likethat, but in the short term, this is going to correct thefinances of our country. we know how hard it is to everraise taxes in our country. god knows how many services willbe lost as the ripple effect of losing this tax revenue, andonce his tax revenue goes through ã± we've looked at thebush tax cuts, we've looked
at the 10 year estimates for thenumber of people that ended up dying as a result of that,increased deaths due to risk ã± production of services andthings like that, and it literally led to, thousands ofpeople lost their life. so i guess we can and shouldlook forward to what's possible a long time from now,but people will literally die from the results of thesechanges, and they will not benefit from any hypotheticalawesome future, unfortunately. people are saying that statesshould lead the way to
single-payer health care, theydid it in color ã± they try to do in colorado. we are not to dissolve thethird-party debate right now. i think we're close. because the calvary has not yetarrived. they are at sending rock. on the first person to say that. and we are going to test jimmy'stheories out, because your theory was, under trump is goingto get so bad that we are going
to need strong democrats orprogressive ã± submitting and surrendering totrump, and they are not going to do any better for years fromnow, but jimmy i hope you are right, because it's going to getreal bad. they are stripping the wholething down. it's like somebody left a car inthe wrong part of town, and they come back and it's oncinderblocks, and they've taken everything valuable out of thecar. that's what they are going to dowith the country.
that's what they did in turkey. they are going to loot it. and the looting has begun, andthis is part of the looting. we have the head of the centeron policy saying that this plan of donald trump sees at the oddsã± seems at odds with the narrative of what this electionwas entirely about. so yes, half the trumpsupporters don't care about any of this. they are like, look, as long asyou hate the same people i
hate, i don't care. you want to take it from mypocket? what do i care? just so long as i get to feelgood about hating the right people. but half of trump supportersreally believe the stuff he was saying. a lot of you think, no theydidn't really believe him, did they?
some of them did, and when theycome to find out, oops, now i don't have healthcare, my kidsdon't have healthcare, why? because every millionaire had toget $36,000 under donald trump. he told me he was againstgoldman sachs, and he filled his cabinet full of guys fromgoldman sachs. and when that happens, peopleare going to wake up and say, we've been had. well, there better be strongprogressives to give people the opposite message, and givepeople hope for what can be done
right, and how the system is ã±you were right ã± the system is fixed against you, but let's gofix the people who rigged the system, the powerful, not thepowerless. and we will fight back againstthe people who rigged the system, and i believe in thelong run that we will win.
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