So I guess health insurance deduction for small business owners is out
Many retirees live off dividends, why are dividends taxed her in USA and not in some other countries.
Dividends come to people who hold invested income that was taxed when it was earned initially.
Dividends therefore are double taxed. Obama raised the rate on taxing them. Why is there nothing about lowering the dividends taxes or eliminating them?
I suppose so. The House bill also eliminates the deduction for medical expenses. It also eliminates deductions for adoptions.
What has happened here is this: Congress wants to give all of the goodies to the corporations and the donor class. They are the only winners here.
In order to slash the corporate rate from 35% to 20%, Congress had to go through the Tax Deduction Sofa, looking for loose change.
As another Freeper pointed out, this isn't a "Tax Cut" bill. It is a Deduction Cut bill that is a massive de facto tax increase on millions of Americans. Even Mitch "I Got Thrown Out Of the US Army For Sexually Assaulting a Fellow Soldier" McConnell had to admit as much - and now the other Senators and Congressmen are angry with him.
I see nothing in house bill that changes self employed health insurance deductions, except for eliminating MSAs, HSA is still available and would likely pick up slack on medical deduction by being used more often and possibly expanded when health reform takes place.