Ten Trillion & Counting
By Karla Robles
- Reaganomics- economic policy by Ronald Reagan. Had a lot of tax cuts, decreased social spending, and increased military spending
- He believed that decreasing taxes would stimulate economic growth
- Reaganomics cut taxes initially, then raised them due to deficits
- Tax rates went down from 70% to 50% to 25%
- $31 billion cut in spending in 1981
Reaganomics was Ronald Reagan's way of cutting taxes to try to make the economy grow and become good again. Many Americans loved the idea of taxes getting cut so they loved Reagan for that.
Cons of Health Care Reform
- The healthcare today costs more than it should
- Healthcare is supposed to seek lower pricing but instead creates new arrangments that are more expensive
- 30.1 billion people that buy their own healthcare. many of them have had their plans cancelled because they do not meet the ten essential health benefits
- People that do not have insurance will be assessed taxes
- Pharmaceutical companies pay extra
The cons of healthcare today are that it can be pretty expensive for some people, and for other, who own their own private insurance, it could be cancelled. If it does cancel, then they can be taxed extra for not have healthcare insurance.
Medicare plan D
- The cost of drug plans will vary based on what type of drugs you get, how much it is worth, or if you get extra help
- A rule for Medicare Plan D is that you and the prescriber must contact the pharmacy before you go get a refill
- Another rule is the limitation that is given to how much of the drugs you can get at once
- One other rule is that you have to test and try similar drugs before the real one is given to you
Medicare Plan D only added prescriptions to Medicare. Most of the people that liked the idea of Medicare Plan D were people who were about the age of 55 and up. People who are retired and need this plan to get help with their medications. The U.S. is in a lot of debt from all the money that was borrowed to try and make this plan work.
- Amadeo, Kimberly and Kimberly Amadeo. "Is Obamacare Worth It?". About.com Money. N.p., 2016. Web. 6 May 2016.
- "Costs In The Coverage Gap | Medicare.Gov". Medicare.gov. N.p., 2016. Web. 6 May 2016.
- "Drug Plan Coverage Rules | Medicare.Gov". Medicare.gov. N.p., 2016. Web. 6 May 2016.
- "Forbes Welcome". Forbes.com. N.p., 2016. Web. 6 May 2016.
- "Reaganomics Definition | Investopedia". Investopedia. N.p., 2004. Web. 6 May 2016.
- "Top 10 Pros & Cons - Obamacare - Procon.Org". Healthcarereform.procon.org. N.p., 2016. Web. 6 May 2016.