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Obamacare works is they give you a subsidy for an insurance plan. as you make more money, they take away more and more of the subsidy. this creates effectively a tax with people on low and moderate incomes. as they earn more money, they lose part of the subsidy. it adds on 5%, 10%, 15% to their tax rate. some people will work less. that's not a desirable economic effe effect. tweak the program to have less of that effect. any kinds of means tested entitlement plan -- >> any means testing in spitelement program, in a welfare program will have this incentive effect at the margins. it's a reason ...

Cover-up for really what is an entitlement plan. so that's why you're seeing expansion of medicaid. no real insurance risk transfer going on and costs going up. service going down across the board. >> speaking of service going down, medicaid is substandard. here we have the president this week ridiculing what he calls substandard insurance plans in the private industry. his obamacare expansion is dependent upon the quintessential substandard that is to say medicaid. why? because doctors and hospitals don't want to take it. they don't like it, right? >> right. they lose money on it. that's the ...

>> if we do a three-year entitlement plan, this is a step in the right direction. >> well, nbc's peter alexander is at the white house, peter, with a good sunday to you, we have the president's senior advisor talking about the budget as we heard there. talk about what both are saying, put it in perspective? >> reporter: to give you a better understanding of this, we're not going to know the specifics until wednesday when the white house puts out the plan in its entirety. but you see the -- early republican criticism suggesting that the president is holding entitlement reform hostage so that he...

Don't do this to the republican party brand. just cut this deal. don't be so stubborn on these high-end tax rates. is that the way you see it? >> i think the elections have cons 0 againsts and the electorate has chosen divided government. they expect compromise and expect it from both sides. i don't think republicans should move on tax increases without significant movement on entitlements. >> you want to get something in return but go ahead and offer it. and right now they're not offering it. >> in order to get something done, people expect to get something done. both sides have to come to th...

Patient goes to the state exchange, the federal money subsidizes that, it comes out of the taxpayer pocket, that's why we call it an entitlement plan. bill: just reading through this now, it's fresh off the wire here. we'll go through it and give you more context throughout the day. mark, thank you. it's good to get your initial reaction here. dr. marc siegl on our medical a team. heather. heather: another exciting weekend of olympic triumph and heart speak. wh bolt retaining the title of the fastest man alive. the second fastest win in history and a new olympic record. bolt and carl lewis the...