Friday, July 15, 2011

Are those of you who have employer paid health insurance willing to pay?

$2000 to $3000 more a year in income rax so those people without health insurance can get a tax break?
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Actually I think you misinterpreted the plan. Those with employer provided insurance or those who are able to provide for their own insurance needs would see a tax break. The problem with his plan as I see it is that it would do nothing to help the poor who are uninsured. Example: With my contributions and my employers the total comes to about 6000 a year for my family. This 6000 would become taxable income under the President's plan, but I would get a 15,000 dollar tax break. So basically I would be able to write off an additional 9000 in income from my yearly gross. Thus I would get a tax break. Those people who have employer sponsored health plans would fair well so long as the total amount of the contributions is below 15,000 for a family or 7,500 for an individual. However, people who do not have sponsored plans and are already living either at or beyond their means will not be able to add additional costs for self insurance simply with the goal of getting a larger tax return at the end of the year. Therefore there is no real benefit to the poor.
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