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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 1955507  
Subject: Re: More OCare fallout Date: 2/21/2013 12:04 PM
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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.

Bears
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