Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: combjelly who wrote (353532)	10/3/2007 7:06:19 PM
From: TimF	Respond to of 1577978

Congressional advocates for HR 976 argue that we have been misrepresenting HR 976 - they argue that the bill does not provide extra federal funding for all kids up to 400% of poverty. To be clear, it does not, nor have we claimed that it does. The bill does, however, provide extra federal funds to subsidize some kids who are not poor. Under HR 976: * In New York, kids up to 400% of poverty would be eligible and the State would be paid extra to enroll these kids. For a family of four, this is $82,600 of annual income. * In New Jersey, kids up to 350% of poverty would be eligible and the State would be paid extra to enroll these kids. For a family of four, this is just over $72,000. * In all other States, kids up to 300% of poverty would be eligible and the State would be paid extra to enroll these kids. For a family of four, this is just over $62,000. gregmankiw.blogspot.com Most of the money is projected to go to lower income families whose children aren't covered currently. The very poor are already eligible for Medicare. Low income kids are already eligible for SCHIP. The cost is mostly adding middle class kids. Also its planed to be funded by a tax on cigarettes. Which at least has a possible advantage of reducing smoking, but which would 1 - Be regressive (you be having the poor subsidizing middle class health care expenses) and 2 - If it reduces smoking it starts to reduce its own funding. Interestingly some families receiving benefits from this program for the poor, will also have enough income to trigger the alternate minimum tax which is supposed to only hit "the rich". I suppose if calling you rich increases the size of the government your rich, if calling your poor increases it your poor, even at the same time...