Skip to comments.The Middle-Class Health Tax Heist Of 2009
Posted on 10/23/2009 5:31:41 PM PDT by Kaslin
Poring over the details of the 1,501-page health care bill that came out of Sen. Max Baucus' Finance Committee, it's clear that the financing is so full of smoke and mirrors that one has to wear a respirator and hard hat to get through it.
But by the time one gets to the end of the bill, estimated to cost $829 billion over 10 years, clarity emerges the Democrats plan to finance their expanded government care on the backs of America's middle-class taxpayers.
Baucus and company have decided to tax what the press calls "Cadillac" health plans. Prior to hitting the fine print, this indicates that only excessive, gold-plated plans found in the executive suites would be hit.
Baucus' "mark," however, shows that it's more likely the janitor who will be paying the tab.
Included in the bill is a confiscatory excise tax of 40% on "Cadillac" health plans that cost more than $8,000 for an individual or $21,000 for a family. This appears reasonable, as today most plans are well under these limits.
However, it's not actually health plans that are taxed at 40%, but the aggregate benefits that relate to health care that employers offer, regardless of whether they are funded by the employee or employer. The limits apply not only to employer-sponsored medical care but also to vision and dental plans.
(Excerpt) Read more at investors.com ...
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