Interestingly, our esteemed buttholes do not consider who is REALLY impacted by onerous taxation: US.
WE, the people... (ever heard that phrase?) You know - the taxpayers.
Posted on 06/29/2009 2:39:18 AM PDT by Scanian
President Obama's original plan to pay for his health care reforms was to limit charitable contributions and mortgage interest payments that people can deduct from their taxable income.
But both proposals were nonstarters from the moment they reached Capitol Hill. They would raise taxes on the two sectors that we need to be encouraging, not stifling. The former would reduce charitable giving. The latter would hurt the beleaguered housing industry at time when it needs all the incentives it can get.
So now Democratic leaders are considering yet another sacrosanct tax-free benefit they can tap into: employer/employee health insurance premiums.
About 150 million Americans and the businesses they work for do not pay taxes on that part of their income that goes to pay for health care. But North Dakota Sen. Kent Conrad, the Senate Budget Committee chairman, thinks this may be the only way to finance a plan that will cost taxpayers between $1.5 trillion and $2 trillion over the next decade, and much more after that.
Lawmakers spend a lot of their time searching for the last remaining sources of untaxed income that the can get their greedy hands on to spend as they see fit. They are now salivating over untaxed income that goes to pay the premiums for most of the country's insured Americans.
(Excerpt) Read more at washingtontimes.com ...
Thanks for the post - please keep bumped. THIS fact MIGHT upset the applecart as Zero marches closer to zerostatus with the public.
Interestingly, our esteemed buttholes do not consider who is REALLY impacted by onerous taxation: US.
WE, the people... (ever heard that phrase?) You know - the taxpayers.
It has been argued that if employer provided health insurance were taxed, it would likely go the way of the dodo bird. If there were no government or business provided health insurance, and we all had to shop for insurance, the pool of potential customers would be huge and the free market would reign. That is the only answer to our health care “crisis”.
In this proposal, they want to finance Zer0Care by taxing private health insurance contributions.
In another proposal they want everyone to be switched to government Grade Zer0 health insurance.
So the idea is to make health insurance worse AND to make it more expensive?
These are questions that everyone needs to ask.
When the government implemented wage and price controls, companies were not allowed to compete for workers, or reward service, by raising salaries, so companies had to find another way to make their employment more attractive. And of course, the government was more than happy to write tax laws to encourage this.
It's no different than Frank and Dodd telling us that they're going to save the mortgage industry after they were the ones directly responsible for its failure!
Makr
Our government has been transformed right before our eyes from that of being democratic to that of being government by fiat.
Vince
Couldn’t 0 use money from can-n-trade to fund health care?
After all of 0bama’s bills.policies are passed there won’t be any employee benefits TO TAX. So he will just take it from Fed taxes. No cents (sense) or change.
That’s been suggested before. What could possibly stop them?
Oh yes they will, because they are right now! Your medicare payments are not deductible, you do pay income tax on the amount you pay into these programs, the same way you pay income tax on the money you pay into SocSec. The Obamanation isn't talking about directly taxing the care you get, but taxing the amount your employer pays the insurance company.
For self-insured companies, these might be the same thing, so it might drive them to use outside insurers, which adds costs, which will reduce benefits, all to the greater glory of the nationalized plan.
UNLESS you are a UNION member! THEN your benefits are tax EXEMPT!!
No, most of that is going in to his and his cronies’ pockets.
Sorry - not a winner! But thanks for playing!
CA....
No, most of that is going in to his and his cronies’ pockets.
Sorry - not a winner! But thanks for playing!
CA....
No, most of that is going in to his and his cronies’ pockets.
Sorry - not a winner! But thanks for playing!
CA....
So if my employers contributions can be taxed as income, can my contributions be subject to a Sales Tax?
Though the net worth has been reduced greatly in the last few mounths, there is still all the 401(k) and other tax deferred “savings” that haven’t been targeted yet. Remember under Clinton there was talk of taxing those funds at 15% (I think it was 15%...).
Can you imagine how they must lust after the hunk of cash and wouldn’t do anything good with it, just give it to more groups to BUY votes.
Isn’t it time for another revolution??
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