: raise taxes for healthcare

February 5, 2007

Reuters

Feb 4, 2007 — WASHINGTON (Reuters) - Democratic U.S. presidential

candidate on Sunday said that he would raise taxes,

chiefly on the wealthy, to pay for expanded healthcare coverage under

a plan costing $90 billion to $120 billion a year to be unveiled on

Monday.

" We'll have to raise taxes. The only way you can pay for a healthcare

plan that cost anywhere from $90 to $120 billion is there has to be a

revenue source, " said on NBC's Meet the Press news program.

The 2004 vice presidential nominee and former North Carolina senator

said his plan would " get rid of Bush's tax cuts for people who

make over $200,000 a year. "

He said the plan would also reduce healthcare costs.

" Finally we need to do a much better job of collecting the taxes that

are already owed, " he said, specifically targeting what he said are

large amounts of unpaid capital gains taxes.

" We should have brokerage houses report the capital gains that people

are incurring because we're losing billions and billions of dollars in

tax revenue, " said.

Offering a preview of his plan, said it aims to bring

healthcare coverage to 47 million uninsured Americans, lower costs for

the middle class and foster competition.

It would expand Medicaid, the state-federal health insurance plan for

the needy, and offer subsidies for the uninsured. He said, " We ask

employers to play a bigger role, which means they either have to have

coverage or they have to buy into what we're calling health markets. "

Without providing details, said his plan would create " health

markets " nationwide. One choice available in the markets would be " the

government plan, so people who like the idea of a single-payer health

insurance plan, that is actually one of the alternatives, " he said.

declared his candidacy in December calling for fewer U.S.

troops in Iraq, a restoration of U.S. world leadership and an end to

poverty.

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