Medicare bill has new tax-free accounts

AP | 11/23/03 | MARY DALRYMPLE

[Jim Robinson]

Which, of course, is the way it should be for health care (and everything else). The income tax needs to be abolished so people are free to save and invest and or do whatever they feel is appropriate or necessary with their own money. We'll never be free again until the income tax is gone. Go back to excise taxes the way the founders intended.

[DumpsterDiver]

As troubling to the opponents, however, is the idea of totally tax-free savings for those wealthy enough to set the money aside.

I have never been any where near wealthy and I've been able to "set some money aside", and that's without getting any tax-free benefits.

[EggsAckley]

I've had a medical savings account for about five years, and it's the most sensible insurance I've ever seen. It also causes people to stop and think before they over-utilize medical services. The money is theirs, and suddenly they don't want to waste it on a hangnail or some other pointless medical care.

[DumpsterDiver]

We'll never be free again until the income tax is gone."

What's your opinion on property taxes? It bugs me that no one can ever truly own property in the U.S. We're all perpetual renters, even after the mortgage is paid off.

I don't know, though, what sort of alternative tax could be used for funding schools, police, etc.

[Paul C. Jesup]

New health savings accounts included in the Medicare legislation would let individuals save, invest and then spend money tax-free.

Okay, so at least there is one silver lining in this bad bill.

[Clara Lou]

I don't disagree with your post at all, but how to deal with A) those who never think past the ends of their noses and, therefore, never save; B) those who never earn enough to save?

[lelio]

I agree, MSAs appear to be the only single good thing in there. However I can guarantee this is how a typical democrat voter will use it: "My MSA out of money, gimme gimme gimme!" So we'll be back to square one.

[Paul C. Jesup]

I don't disagree with your post at all, but how to deal with A) those who never think past the ends of their noses and, therefore, never save; B) those who never earn enough to save?

Here is a better question, would you prefer to die poor, homeless and bankrupt because you were forced to pay high taxes that paid for other people's mistakes? Or would you rather have just let those people destroy themselves?

[Jim Robinson]

Well, obviously, it's up to the voters in each state. My guess is that one of the primary causes of high property taxes is out of control spending in public education. I'd like to see the states solve both problems by privatizing education.

[Paul C. Jesup]

See post 9.

[muawiyah]

This system is already in place for tens of millions of people including ALL employees of the federal government.

Anyone who is critical of it probably has a very difficult time unwrapping chewing gum to say nothing of chewing it while walking!

[Jim Robinson]

Local controlled county hospitals and clinics, religious or charity hospitals and clinics, local controlled welfare. The feds have no business whatsoever in health care.

[Clara Lou]

Or would you rather have just let those people destroy themselves?
That's just it-- the people of this nation won't be willing to watch someone die for lack of being able to afford medical services. Why do you think that our hospitals are required to care for immigrants and indigents?

[Jim Robinson]

And that would include the drunken neanderthal and uncharged felon, Senator Theo Kennedy, who should be serving a term in prison rather than the senate for DUI, manslaugter and fleeing the scene of a fatal accident.

[ServesURight]

Looks like Dubya has outsmarted the Rats and the FReeper doubters again.

[cpst12]

>>I don't know, though, what sort of alternative tax could be used for funding schools, police, etc.

I don't know why we need any taxes at all: income, property, sale taxes etc. The republicans in power have made it quite clear that defecits do not matter, and there is no problem whatsoever having trillions upon trillions of dollars of debt. So why can't we just stop collecting taxes altogether and just keep borrowing money to pay for the government?....if we could just borrow enough, we'd all be wealthy, wouldn't we? and we'd never have to do any of the hard work of actually reducing spending or the size of government...

[cpst12]

>>Looks like Dubya has outsmarted the Rats and the FReeper doubters again

...it will only cost us taxpayers about $400Billion dollars (minimum) over the next decade to pay for this $6 Billion dollar tax savings we are gonna get on the medical savings accounts...that dubya, he fooled us alright....

[nonliberal]

Big deal. It is a $400 billion (at least) vote-buying scam.

[Paul C. Jesup]

That's just it-- the people of this nation won't be willing to watch someone die for lack of being able to afford medical services. Why do you think that our hospitals are required to care for immigrants and indigents?

Oh really, just check out some of the thread on FR about illegal immigrants