Just another example of the inherent weaknesses and idiocy of the current tax code. Go to a flat tax: 10% on all income, no deductions for anything, not even having a poor man’s job. 10%. Pay it. Done. Dismantle the IRS.
More deliberate wealth destruction by the “progressives”.
He wants to replace these plans with a tax exemption for everyone. Swell.
Whatcha wanna bet that "the working poor" would receive cash benefits ala EITC?
Just another redistribution program.
We had an FSA but dropped it because the paperwork requirements were onerous. Receipts had to be copied on to an 8 1/2 x 11, one page per receipt. Postage to mail the d@mn packet was about $3.00. Of course when you’re getting over a grand back that isn’t a bad return....except that it is “your” money in the first place.
What they need to do is get rid of the FSA and make everything an HSA. It would get rid of some arbitrary rules and make people breath a little easier when bills come in.