if you had one of these plans before the affordable care act came into law and you really liked that plan, what we said was you could keep it if it hasn t changed since the law has passed. that was president obama just a couple of hours ago. that s today. basically rewriting the fundamental pledge he made repeatedly to the american people as he was selling the obama care over haul which revamped one-sixth of the economy and affected thing of millions of americans. this has new polls from george washington university shows the broken promise may have an impact. this as 50% have an unfavorable opinion of him on a personal level. it s been key for him. he s always done well on oh this.
Detailed text transcripts for TV channel - FOXNEWS - 20131104:16:05:00
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it would be one of the largest within the federal government. the way the subsidy is structured, the higher the tax rate, the more it is worth. ted cruz, his wife is a highly paid investment banker, they get their insurance through a cadillac plan at goldman sachs and it cost $40,000 a year in 2009. to get a sense, family health insurance would cost 15,000 or 16,000, well more than twice as expensive as normal. the tax benefit is worth about $15,000. now the cost to insure a family of four on medicaid at that time was about $11,000. so that it s not that their health plan cost more than medicaid but the part subsidized by taxpayers cost more than the entirety of medicare coverage. what the affordable care act does is shift around the subsidies, it takes the money and puts it to people who need it either because they have low incomes or high health needs and that s bad if you re a managing
this is a difficult time. look, the very rich, they re doing fine. so he likes to pretend he s this populist. but yesterday we learned he gets his own personal health care from his wife s goldman sachs plan. it s a cadillac plan at that. it s worth $20,000. now, to put that in perspective, a texan working a full-time minimum wage job just makes $15,080. yeah. look, i think part of what s going on here is a surprise about what the republican party is. i think ted cruz is not completely wrong when he makes that point that they are not necessarily the party of the wealthy. and all that i mean by that is that the tea party arm of the republican party now is actually making policies. it is behaving in a way that is, in fact, not good for the economic engines of wall street,
brian: here we go. four days and counting. the obama administration repeatedly assured america it will not raise taxes to implement obamacare. but if that s true, who is paying for it? where is the revenue coming from? here to break down some of the secret taxes or the taxes you don t know about that are funding this bill, which is now a law, speaker of the florida house, will weatherford. welcome. thank you. brian: marco rubio had that gig. yes. brian: hopefully you re on the same path. first of all, on this cadillac plan, what s happening to them? first of all, you just mentioned it, they said they weren t going to raise taxes, obamacare is the largest tax increase on the american people. there is numerous taxes. that cadillac tax says if your company or your employer gives awe really good tax plan, if it s too good, we re going to tax you for it and make you pay 40% on the dollar in taxes. it s ridiculous. brian: that s part of why the unions are so upset. they don t m
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