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Can't raise taxes? Hike Medicare premiums instead
December 13, 2011
WASHINGTON (AP) — Republicans say they don't want to raise taxes on millionaires. But they seem to have no problem hiking Medicare premiums for retirees making a lot less.
The House is expected to vote Tuesday on a year-end economic package that includes increasing premiums for "high-income" Medicare beneficiaries.
Over time the added charges would affect the top one-fourth of seniors. Some would pay several hundred dollars more a month for outpatient and prescription coverage.
Wealthier Medicare recipients have been paying higher premiums for a few years. But only the top-earning 5 percent are currently affected, those making $85,000 individually, $170,000 for families.
The White House is mum on the Republican Medicare proposal, while AARP says it's tantamount to a new tax. Senate Democrats don't like it.
(Copyright 2011 Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.)
