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Financing Comprehensive Health Care Reform: Proposed Health System Savings and Revenue Options
SECTION III: Other Health Care Related Revenue Raisers
Modify or Repeal the Itemized Deduction for Medical Expenses
Repeal of Modify the Special Deduction and Special Unearned Premium Rule for Blue Cross and Blue Shield or Other Qualifying Organizations
Modify Health Savings Accounts
Modify or Repeal the Exclusion for Employer-Provided Reimbursement of Medical Expenses Under Flexible Spending Arrangements and Health Reimbursement Arrangements
Limit the Qualified Medical Expense Definition
Modify FICA Tax Exemption
Extend Medicare Payroll Tax to all State and Local Government Employees
Modify the Requirements for Tax-Exempt Hospitals
SECTION IV: Lifestyle Related Revenue Raisers
Impose a Uniform Alcohol Excise Tax
Enact a Sugar-Sweetened Beverage Excise Tax
1. Limit the Tax Rate at which Itemized Deductions Reduce Tax Liability to 28 Percent
2. Reduce the Tax Gap and Make Reforms
3. Make Reforms to Close Tax Loopholes
4. Modify Alternative Fuel Mixture Credit
Other Revenue Raising Proposals
1. Other Revenue Changes and Loophole Closers
• Reinstate Superfund Excise Taxes
• Reinstate Superfund Environmental Income Tax
• Tax Carried (Profit) Interests as Ordinary Income
• Codify “Economic Substance” Doctrine
• Repeal the Last-In, First-Out (LIFO) Method of Accounting for Inventories
• Reform U.S. International Tax System
• Require Information Reporting for Rental Property Expense Payments
• Eliminate Oil and Gas Company Preferences
2. Upper-Income Tax Provisions Dedicated to Deficit Reduction
• Reinstate the 39.6-Percent Rate
• Reinstate the 36-Percent Rate for Taxpayers with Income over $250,000 (Married
Filing a Joint Return) and $200,000 (Single)
• Reinstate the Limitation on Itemized Deductions for Taxpayers with Income over
$250,000 (Married Filing a Joint Return) and $200,000 (Single)
• Reinstate the Personal Exemption Phase-Out (PEP) for Taxpayers with Income over
$250,000 (Married Filing a Joint Return) and $200,000 (Single)
• Impose a 20-Percent Rate on Dividends and Capital Gains for Taxpayers with Income
over $250,000 (Married Filing a Joint Return) and $200,000 (Single
And that is just a taste of the new taxes. Tell me that raising taxes like this is not going to work its way around our economy, until every man woman and child feels the new tax increases in their wallets.
Its health care insurance, and they are going to tax everything, oil, gas, non health care related items and many more activities to pay for this health care. Won't these taxes alone slow the economy and increase the cost of living expenses and add to the deficit?
All taxes, on anybody, increase the cost of living for everyone. Anyone who doesn't believe this is foolish at best and evil at worst. The old saying that Godvernment can only provide what It has already stolen will always be true.
In reality, taxes are only paid by those who can't shift the cost of taxation onto someone else. The irony is that many of those who clamor loudest to punish one group or other through taxation are the ones left paying them.
The drooling class still believes that you can actually tax business and that that cost will not be immediately shifted onto the consumers. Sad.
Responsible health care reform must provide health care coverage for all Americans while at the
same time reduce the rate of growth in health care spending. These goals must be achieved in a
fiscally responsible manner with sustainable sources of funding. The purpose of this document
is to outline policy options for financing comprehensive health care reform. Three specific areas
of potential funding sources are explored: savings achieved from within the health care system
from reductions in current levels of spending; reevaluating current health tax subsidies; and
changes to non-health tax provisions.
See, that is the kind of honest and open discussion that I have been requesting in multiple postings about this subject. Glad to at least see that Max Baucus is willing to try and have an adult discussion about how to approach financing the proposal.
Doesn't mean I support this, but I always appreciate openness and honesty, something that has been sorely lacking in the discussion (and Obama presentation last night).
How else are they going to pay for this but increase taxes?
0bama can smugly claim that his healthcare plan will not cost us a dime in deficit increases, but he knows damn well they shift administrative costs throughout the different agencies within our government.
These administrative costs are hidden and spread throughout the various agencies, ie... the IRS collects the money, payments to healthcare providers are handled by the Treasury department and the legal obligations, challenges, and contracts are handled by the Justice Department, and these and other responsibilities are handled by his many Czars, and so on and so on.
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