Tax exemptions and credits are used by congress to encourage certain behavior, getting married, buying homes and expensive luxury items, electric cars, having kids, buying municipal bonds, investing, spending lots of money on healthcare, and on and on. The problem is once they become part of the tax code, they remain forever. The result is a very complex tax code, that makes no sense at all. Do we really need the government encouraging people to marry, have kids, buy homes, boats, and cars, and spend lots of money on healthcare.I am opposed to all tax exemptions. They are federal subsidies and need to go away, period. There should be NO tax exemptions for employers or employees. They are theft from other people's pockets.Also are you in favor then of ALL employer insurance programs to be eliminated?
I am. Not banned, though. It should be up to the employer what benefits they choose to give to their employees.
Yes, that is exactly what I said. I said take away the tax exemption for employer-sponsored health insurance. The money an employer is spending on employee insurance is employee income, and right now it is exempt from income tax. It shouldn't be.If so that would eliminate the single largest tax write-off ... See this table: $171 billion in tax write off by employers for health insurance.
It is government interference in the free market, and it is massively distorting the market as a result, bending the cost curve up. It is government wealth redistribution and behavior modification.
Taking away the tax exemption will dis-incentivize employers from sponsoring health insurance, which should be the goal.
Well that's what Trump is after to give the employees their OWN tax deductible health insurance, which is fine with me!
From Trump's health plan...Healthcare Reform
Allow individuals to fully deduct health insurance premium payments from their tax returns under the current tax system.
Businesses are allowed to take these deductions so why wouldn’t Congress allow individuals the same exemptions?
As we allow the free market to provide insurance coverage opportunities to companies and individuals, we must also make sure that no one slips through the cracks simply because they cannot afford insurance.
We must review basic options for Medicaid and work with states to ensure that those who want healthcare coverage can have it.
However, deductions and credits will be with us as long as there is a congress, businesses, and individuals asking for them. They pave the way for reelection