Posted on 06/21/2009 8:23:31 PM PDT by anniegetyourgun
About one in eight U.S. workers who receive health benefits from an employer -- more than nine million workers -- could pay higher income taxes on benefits as part of a Senate proposal that aims to raise billions of dollars to finance health-care reform, according an independent analysis of the proposal.
A five-page presentation, obtained by FOX Business, was prepared by the chairman of the Senate Finance Committee, Sen. Max Baucus (D-Mont.), who is leading efforts by Senate Democrats to formulate funding alternatives for a reform plan. In the document, Baucus proposes “options to limit allowable tax free health benefits."
(Excerpt) Read more at foxbusiness.com ...
Any form of a socialist, government run plan will be a disaster for the country. Congress should cap the amount of money awarded in malpractice suits and lower the overall tax burden if they are truly interested in making health care more affordable. Anything else is just another power grab by socialists.
Unfortunately for them (and fortunately for freedom), in this current round, they are finding that it is necessary to hustle before the facade of Obama cracks for all to see.
Just when will the health care plan for government and non-government employees be exactly the same? Then all the unemployed, spouses, and kids can get the same exact benefits right?
Since when do people accept an upper class of government and a lower class of all others?
This is all such BS.
U. S. House of Representatives
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Tax benefits of single workers who earn more than $100,000 a year and couples that earn more than $200,000. The presentation cites a previous estimate from the Congressional Joint Committee on Taxation [JCT] that the proposal would raise $161.9 billion over 10 years if the changes were effective on January 1, 2010.
Tax benefits that exceed a value of $6,182 for a single worker and a value of $15,700 for a worker who also receives coverage for his family. The document cites a previous JCT estimate that the proposal would raise $418 billion over a decade if the changes were effective January 1, 2010.
Tax those “base” benefits plus 10%, or a value of $6,800 for an individual worker and a value of $17,240 for families. The higher cap would eliminate taxes for some workers. The document says Baucus has requested an estimate, presumably from the JCT, of how much this proposal would generate in new tax revenue with the change effective January 1, 2013.
Tax base benefits plus 20%, or a value of $7,420 for an individual and a value of $18,840 for families, which would shelter even more workers from tax liability. Baucus also has requested, presumably from the JTC, an estimate for this proposal also effective January 1, 2013.
I guarantee you that almost everyone will pay more in taxes if this monstrosity passes. Guarantee it!
I read where unions members will not have to pay taxes, if paying taxes is not written into their contract, and as long as their contract is in effect. They will be exempt from paying. Doesn’t that beat all?
we all KNOW what THAT means.
I heard the same thing about unions being exempted...
I’m sure the $8 a week Hussein’s tax cut gave us will more than cover the new taxes to pay for healthcare.
As a small business owner, I have always provided health, dental and vision insurance for my employees. Because I do not have over 50 employees, I pay top dollar for this coverage. For the last ten years, I have seen increases of 15-20% annually. I still have not had the employee pay a portion, even though I have had to increase their co-pay to $50.00 to get a better premium cost. If Obama taxes these benefits, which are on the average of $270 for under 40 and $350 for over 40 per month, I cannot increase their pay to cover this tax. There is just no margin that will allow this, so I will either lose employees because my premiums are too high and they don’t want to pay the tax or my business will suffer due to people who won’t choose to work for a small business. They will figure that working just does not pay. Maybe that is what Obama wants after all.
Yes. Many union health benefits packages exceed $12K per year.
Usually, they still have extremely wasteful $10 co-pay plans with full Drug benefits. They are nice to have, but their costs are rising at about 20% per year.
Most private -companies are rapidly moving to Health Savings Accounts. Free preventive care, wellness, they are great plans and they are very inexpensive in most states (but not all).
I have a great plan....start voting these sorry pigs out of office. We need a purge in Congress....both houses.
Any health plan that they stick on us....they will be required to participate in too. You freaks like taxes so much, get ready to pay your fair share...and more.
I am sick and tired of these sorry slobs. Reap the whirlwind you soon to be loser ex-politicians.
Oh yeah, one more thing....you know all those midnight votes to raise your salaries...bye bye. We need to cut some spending and you need to do your part.
If only we were in the majority. I don’t given that “throw them out” idea much chance among our deluded society.
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