McCain: Higher tax for most working folks. (employment, health care, Mexican)

[Asheville Native]

McCain wants the health care that millions of Americans received as part of their employment compensation to be counted as income and taxed.

If your employer pays for for partially pays for your health insurance premiums, YOUR taxes are going to go UP, as that amount is going to be considered INCOME and will appear on your W2.

For a person with decent health coverage, this will probably increase your taxable income by 6,000 to 10,000 a year, without putting a single dollar in your pocket. Then come April 15, Mr. McCain will take an additional $450 to $800 out of your pocket, and likely turn and tell you he has cut your taxes. Some will even believe him.

[GOPATTA2D]

Originally Posted by Asheville Native

McCain wants the health care that millions of Americans received as part of their employment compensation to be counted as income and taxed.

If your employer pays for for partially pays for your health insurance premiums, YOUR taxes are going to go UP, as that amount is going to be considered INCOME and will appear on your W2.

For a person with decent health coverage, this will probably increase your taxable income by 6,000 to 10,000 a year, without putting a single dollar in your pocket. Then come April 15, Mr. McCain will take an additional $450 to $800 out of your pocket, and likely turn and tell you he has cut your taxes. Some will even believe him.

You forgot to add back the $5K in tax credits that are also part of the plan.

[Asheville Native]

Originally Posted by NewMexicanRepublican

You forgot to add back the $5K in tax credits that are also part of the plan.

You will still pay more taxes, as $5K will cover only the really sucky plans that some employers provide. And health insurance premiums are deductible already under the current tax code.

It will also cause people to loose their health coverage, and it is always more expensive to buy as an individual than as a group. And of course you must be 100% healthy, or you can't buy it at any cost. But he's got his coverage, so he just doesn't give a damn about you and me.