Tax Reform Will Be a Nightmare

"Health care is a very, very complicated issue," Treasury Secretary Steve Mnuchin said last week in an interview with Mike Allen at Axios. "[Tax reform's] a lot simpler." Really? America's health care industry is roughly one-sixth of the economy, or about $3 trillion. U.S. federal tax revenue is roughly one-sixth of the economy, or about $3 trillion. Health care is a complex national cross-subsidy, where, for example, the healthy support the sick. Taxes are a national cross-subsidy, where, for example, workers support retirees. With health care, Americans interact with with an amorphous......(read more)

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