SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Politics : GOPwinger Lies/Distortions/Omissions/Perversions of Truth
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: J_F_Shepard who wrote (140443)10/7/2008 3:50:14 PM
From: geode00  Read Replies (1) of 173976
 
No, it is an OFFSET against at least $5K in NEW TAXES applied to what is currently a tax-free benefit of employer paid health insurance.

If you do not have employer paid health insurance you will not get an additional tax and so you will not get the offset. It isn't about your regular income it is specifically tied to your employer paid health insurance.

I just skimmed Ari's article so I don't know where he got his numbers. 50% of US corporations pay zero tax as well along with some 2/3rds of all foreign corporations doing business in the US. Everything that comes out of the extreme right wing WSJ opinion page has to be vetted six ways to sunday before it is believable.

The guy who made $3.7 billion in a single year will pay a chunk of his current income tax as if it were capital gains and pay 15% on it. Buffet, the wealthiest man in the world, pays a lower percentage of his income out as income taxes than does the janitor in his office.

The reason the rich pay more of the tax 'burden' is that they make so much more of the income than they ever did. The richest 400 people gained an extra $1.6 trillion in wealth under Bush. Bush's base did especially well so they believe (as does Dumbya) that his Presidency was a great success.

So the answer to your question, is NO. Those who do not pay any income tax will not suddenly get a check for $5K in the mail. They will first have to get taxed on their previously tax-free employer paid health insurance...it will end up being either a TAX INCREASE or a tax wash for people.

The McCain plan is the most radical plan of all which is why I like it because it has a very high probability of socking the upper and middle class with new taxes for no new benefits. The worst hit will be aging boomers with cadillac health benefits from large corporations.

Those people will be very loud when they complain and that could lead to real health care reform. That is the next source of massive financial dislocation....our out of control, ineffective and inefficient health care system.

This is how I understand McCain's proposal.

Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News