How complicated is this??

Discussion in 'Politics' started by healthmyths, Dec 12, 2012.

  1. healthmyths
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    healthmyths Gold Member Supporting Member

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    First what are the "corporate loopholes" that are being talked about being closed?
    Of the total $653 billion in deduction

    Amount of Deduction Type of deduction that government ALLOWS tax payer to subtract from taxes


    • $TE_Fig1_What-are-the-largest-tax-expenditures_1 (1).gif

      SOURCE: Tax Policy Center Briefing Book
      For example assume the deduction of medical insurance premiums paid by employers is the single largest deductions of $131 billion.
      What this means if this deduction is not allowed, then employers increase their adjusted taxable income by $131 billion.
      If then the corporate tax rate is 35% then the government gets about $45 billion more. Sounds good right?

      Wait though... if this deduction is removed... who will be paying the employees health insurance premiums?
     

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