Medicaid is another government run heath care program

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Medicaid is another government-run heath care program but while Medicare aims to help those 65 and older or with disabilities, Medicaid is a program for those who have very low income and are unable to get health benefits. This program was also created in 1965 but unlike Medicare which is solely government run, Medicaid is both federally run and state run. Each state has its own Medicaid program. The funding for Medicaid comes from the States and the federal government will also make a contribution to the funding of each states’ Medicaid program ( ).
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Over the course of the history of the United States, taxes have been essential to the function of the United States government. As we have seen after certain events that affect the population as a whole, different taxes have been raised, lowered, created, or abolished based on what would work best. Social security was established in order to protect the elderly after their days of labor have ended. Medicare was established as a means for these elderly to have a way to pay for their medical expenses when they time came. Medicaid was established to give those who had the unfortunate position of not being able to afford any healthcare at all. The American taxpayer has been responsible for the majority of the funding for these programs. In the 21 st century, the Obama administration, Senate, and the House have come together to create the next chapter in American healthcare. The act, called the Affordable Care Act, will aim to provide healthcare to every American- “This Act puts individuals, families and small business owners in control of their health care. It reduces premium costs for millions of working families and small businesses by providing hundreds of billions of dollars in tax relief- the largest middle class tax cut for health care in history. It also reduces what families will have to pay for health care by capping out of pocket expenses and requiring preventive car to be fully covered without any out of pocket expense.” With the passage of this new act, there will be provisions that take place immediately and others that will take place in future years with the full effect of the provisions not taking place until the year 2018. The Affordable Care Act will not only chance the face of healthcare in our country but it will have an effect on the tax code of the United States.
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Just like in prior attempts to provide healthcare to Americans, the Affordable Care Act will impose new taxes in addition to changing current taxes in order to provide the funding that will be needed to ensure the sustainability of the program. One way the government plans to do this is to impose higher and more taxes on those individuals and household who are in the higher-income category. However, the act will have effects that are far reaching on individuals and households no matter what tax bracket they are in ( ). The purpose of this paper is to show the effects of the Affordable Care Act on taxes of individuals and corporations.
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