Tags: America's Forum | Barack Obama | Betsy McCaughey | Barack Obama | Budget | middle class | obamacare

McCaughey: Obama's Budget 'Robbing Grandma to Spread Wealth'

By    |   Tuesday, 03 February 2015 12:07 PM

President Barack Obama’s proposed budget hammers the very people he claims to be looking out for: seniors and the middle class, health policy expert Betsy McCaughey said Tuesday on "America’s Forum" on Newsmax TV.

"This budget skewers the middle class and it holds up a big sign to seniors to drop dead," said McCaughey, who appeared alongside Kirsten Kukowski, the Republican National Committee’s deputy communications director.

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"Here's the biggest part of this budget for ordinary people like us. If you had a home, maybe you bought it for $80,000 30 years ago, a three-bedroom colonial and, of course, it's worth several times that now. The president says when you die, you can't leave it to your kids because you're going to have to pay a capital gains tax on all the appreciation of that house since the day you bought it — and then they're going to slap in a state tax on the appreciated value.

"They're going to tax 60 percent of the value of this home that you've lived in your whole life and are counting on giving to your kids."

She accused the president of "robbing grandma to spread the wealth."

As the Democratic Party touts its defense of the middle class, Kukowski said the party’s actions speak louder than its words, something she predicted will not bode well for Democrats down the road.

"It's been pretty clear that the Democratic Party is not for the middle class and it puts Hillary Clinton in a huge box as we look toward 2016," Kukowski said.

Obamacare’s fatal flaws and the administration’s "weasel words" used to try and drum up support for the law are now coming to fruition, according to McCaughey.

"Nine to 10 million people are going to lose their on-the-job coverage because of Obamacare according to the Congressional Budget Office report that came out last week. Isn't the first principle of medicine is do no harm?" she said.

"The penalty [for not having health insurance] is $95 or 1 percent of your adjusted gross income, whichever is higher. $95 is only higher if you earn $9,500 a year.

"Most people are going to get clobbered with 1 percent of their adjusted gross income penalty this year; 2 percent next year; and 2.5 percent the year after. This continues to go up. You could be paying several thousand dollars a year in penalties."

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President Barack Obama's proposed budget hammers the very people he claims to be looking out for: seniors and the middle class, health policy expert Betsy McCaughey said Tuesday on "America's Forum" on Newsmax TV.
Betsy McCaughey, Barack Obama, Budget, middle class, obamacare
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2015-07-03
Tuesday, 03 February 2015 12:07 PM
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