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Politics : Politics for Pros- moderated
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To: LindyBill who wrote (493939)7/2/2012 11:12:58 PM
From: Sr K1 Recommendation  Read Replies (2) of 793899
 
If a business buys the insurance for its employees, it's a tax deductible expense. If an individual buys the insurance, it's potentially deductible on Schedule A or C.

Romney knows this is a deductible expense.

There's no place on federal tax returns where you can deduct a federal income tax. so it's clearly not an income tax. End of debate.

Those who think it should be called a tax, need to reconcile how businesses will treat it if they have a policy to reimburse employees who get charged the penalty.

Some may choose to be subject to it, if that is cheaper or makes financial sense compared to buying insurance.

In any event, the deductibility will encourage businesses to participate, and fewer and fewer will "opt" for the penalty. Seems like that was what Congress intended it to encourage.
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