UnThreaded | Threaded | Whole Thread (8) | Ignore Thread Prev | Next
Author: eatenbybears Big funky green star, 20000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 1987977  
Subject: Re: More OCare fallout Date: 2/21/2013 12:04 PM
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Recommendations: 0
The problem with eliminating the tax break is the fact that those that most benefit from such would be the lower and middle class. The cost the health insurance my wife and I receive is over $18000 a year (hers is over $8k, mine and the kids is over $10,000).

If we were instead taxed on that benefit as income, we would be crushed. If employers stopped providing such a benefit, our incomes are certainly not going to go up enough to offset the loss of that $18000 benefit.

But of course that is what they will do.

You will be able to claim it as a deduction, but they will scrape part of that back by raising the amount you must spend before the deduction is applied.

Was 7.5% of Income .... Obamacare kicked that to 10% this year ... I expect they are aiming for 20%+ or $18,000 on a $90,000 income, before you can start to claim as a deduction.

Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (8) | Ignore Thread Prev | Next


Foolanthropy 2014!
By working with young, first-time moms, Nurse-Family Partnership is able to truly change lives – for generations to come.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Post of the Day:
Macro Economics

Remembrance and Reflections
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.