Look for the Democrats to pound this point home 24/7/365.
Don’t expect dumb-as-a-brick insurance companies to do anything to defuse it.
Does ANYONE beleive the gummint does ANYTHING cheaper than the private sector? Does anyone beleive Medicare for All will reduce administrative overhead? Really?
Actually, the payments are not compulsory. Only the penalty is. That is all that can be factored in.
Also, the penalty is no longer compulsory. This is why I said last fall that the big news of 2019 will be the collapse of Obamacare because it is the first year it doesn’t have the mandate.
We have a lot of other stuff going on, but just keep watching. It will be a big deal as the number of people going without health care insurance explodes. It probably already has, but nobody is reporting it. Just a guess. :)
And Obamacare was just found to be unconstitutional in a court of law (now that there is no mandate). I wonder if it will stand. I wonder if it means that people that didn’t have insurance in 2018, and yet didn’t pay the penalty, will end up having to pay the penalty.
Auto insurance is manadatory in my state. If my state said we will require that the auto insurance be withheld from wages then this model would include that as a compulsory tax. This model is deeply flawed.
Those who don’t have employer sponsored plans are supposedly paying for health care insurance too. But that doesn’t count.
I do like the fact that it emphasis that the employee must earn all of the taxes that the employer pays as said here:
“The following graph mirrors the one above except it shows what the average wage really is when you count all of the employer’s labor costs, not just the cash it pays to employees.”
Numerous Freepers beleive that they do not earn the employer SS “contribution” they beleive somehow that it is magically given to them. “Labor tax burden” is a great term.
More then half my money goes to taxes and the politicians still want more.
I can tell you that the rate listed for Canada is utter nonsense!
Direct deductions off my paycheque are close to 18%, plus what the employer pays (at least half again as much).
Then there are the additional taxes added whenever I buy something. and then there are the hidden taxes on things like gasoline etc.
That 11.8% is a blatant LIE. That makes the entire article wholly unbelievable.
11.8% I WISH!!