TGIF – Lower Taxes and “Better” Health Care Leave Us at Highs

More and more promises.

Our man Mnuchin yesterday gave the markets a huge lift by claiming “we’re pretty close to bringing forward major tax reform” and the markets went crazy but he also said that by “soon” he meant before the end of the year.  That then is a really stupid reason for the markets to rally since they already rallied on it being done in Trump’s first 100 days (this is day 90) but, apparently, you can cry “wolf” as often as you want and this market will rally to your cause.

Also promised yesterday was swift approval of the TrumpDon’tCare Health Plan (Part II) and this one is much more horrific than the last one as they now have a TABLE OF DOOM!!! which has surcharges for pre-existing conditions like PREGNANCY, which will set you back an additional $17,320 if you or one of your family members is prone to such things.  I wish I were joking but no, that’s actually the cost for pregnancy with “no or minor complications” – complications are extra:

And this analysis does not account for surcharges as a result of individuals’ previous health conditions. Scarce data exists on pre-ACA rate ups, but insurers raised premiums for individuals based on health history, not just current health status. Without pre-existing condition protections, cancer survivors now free of the disease or patients who underwent successful surgery years ago could find themselves facing significant surcharges as well.

As we’ve noted before, without “saving” $1Tn on health care costs, Trump can’t get $1Tn worth of tax breaks for himself and his Billionaire buddies so they have to slash insurance and they do so by passing the costs on to you, the people who need the insurance.  But only if you get sick so, if you’re not sick – don’t worry about it, right?  That’s the logic by which the Trump Administration is going to have you, in the Bottom 99%, hand $1Tn to the people in the Top 1%. 

This is really insane folks, this will not make America great, this will make Americans poor while a select few become incredibly…

Provided courtesy of Phil’s Stock World.