The Motley Fool Discussion Boards

Previous Page

Politics & Current Events / Retire Early CampFIRE

URL:  http://boards.fool.com/but-how-far-could-this-go-take-that-deduction-23444186.aspx

Subject:  Re: Poll: End Tax Deduction for Health insurance Date:  12/18/2005  6:18 PM
Author:  FlyingCircus Number:  275667 of 873590

But how far could this go? Take that deduction away and the "uninsured" you want to help see their numbers swell to the point where $130B is a drop in the bucket.

Exactly. Mr. average joe middle class here. My health insurance, for example this year, costs in total over $10K for a deductible / 85% paid by employer system. I pay about $1500/year. At a 25% tax bracket that's a tax payment increase of $375.

So if the proposal is to lose the deduction and put up an additional $375 / year to the feds for uninsured, at what point do I say the hell with it, I'll go uninsured and let the feds cover me for nothing? Pay $2000 a year going up 10% per year for coverage, or pay nothing per year for coverage that's almost as good?
Copyright 1996-2017 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us