Bush looking to eliminate employer deduction for health insurance

[dflprincess]

http://www.dailykos.com/story/2004/11/17/225031/80

The Bush administration is floating a a proposal reported on Washingtonpost.com to elimnate the credit businesses receive when they pay for their employees' health care.

The administration will also push hard for large savings accounts that could shelter thousands of dollars of deposits each year from taxation on investment gains, according to White House economic advisers who have been involved with the planning. And any tax reform, according to Treasury Department officials, would likely eliminate the alternative minimum tax, a parallel income tax designed to ensure that the rich pay income taxes but one that increasingly ensnares the middle class.

To pay for those large tax cuts, the administration is looking at eliminating both the deduction for state and local taxes, and the business tax deduction for employer-sponsored health insurance. That would raise nearly $926 billion over five years, according to White House and congressional documents.

45 million Americans don't have health care today. How many more wouldn't have it if the administration takes away the only economic incentive that companies have to provide it?

This proposal is nothing more than a backdoor plan to kill the progressiveness of the tax code. Eliminate the AMT so rich people can get away paying even fewer taxes, while at the same time ensuring that ordinary working Americans are forced to pay more out of their own pocket for health insurance.

[kikiek]

1. He hasn't even officially been elected and he's breaking promises

from the campaign. He said he would increase tax incentives to companies that provide health coverage. Haha..who didn't know they would get the tax break and not have to provide anything.

[SammyWinstonJack]

6. He has a "Man Date"

And the "will of the people at his back" and he has "earned political capitol" and he is "going to spend it."

[kikiek]

11. Breaking the backs and robbing the pockets of the people who put him

in. I am pissed the rest of us have to go down with them. What morons.

[SammyWinstonJack]

16. Bush* doesn't give a rat's ass about us!

I read back before he was selected where Prescott Bush told his kids to have great disdain for the working class!

[kikiek]

17. What an ass. I am not surprised. Bush thinks he is royalty and Cheney

thinks he knows what is best for the world. I don't believe in hell..but if there is one I am convinced they are the type that will go straight to it.

[bobbieinok]

2. eliminate deductions for state taxes??????

and states will probably (need to) return the 'favor'

or we'll get more propaganda in the states from the wealthy about the 'need' to eliminate the state income tax....we get this periodically in OK: the claim that companies will not locate to a state that has an income tax

[Zing Zing Zingbah]

9. Florida is a no income tax state.

Most of the jobs are low paying service jobs too.

[unblock]

10. as is texas

blue states are the hardest hit.

[GraphicQueen]

3. No more employer

INSURANCE. The employers won't have any incentive and when they can't get a tax break you can bet they will quite offering it to employees. Bush sucks and I am sorry but I believe that this country is going to have to have a complete revolution to change things.

[Eloriel]

4. Ah, the class warfare continues...

right on schedule.

Hope Bush's voters will appreciate all this.

[unblock]

5. yes! go for it georgie!! ohio will be OURS

let's see, eliminate taxes on dividends, which helps the average buckeye to the tune of about $3.50/yr. then eliminate alternative minimum tax, which affects only a few people, often due to high state tax deductions. throw in some new tax shelters when most people can't even afford to max out their 401(k).

then pay for it all by RAISING TAXES by eliminating the deduction for state taxes, which will cost the average buckeye probably several hundred, and quite a few people well into the thousands of $$.

and, while your at it, take away their health care!!!


BRING IT ON!!

OHIO WILL BE BLUE!!!

[SammyWinstonJack]

7. This idiot really is arrogant!

Lil Boots! Have no fear, he will "BRING IT ON!"

[juajen]

13. I think Ohio might already be blue. I'm crossing my fingers.

N/T

[DuaneBidoux]

8. Oh Yea' that'll help create jobs!

[unblock]

12. this MORE than cancels out the entire bush tax cut for me

and for most people.

i earn more than 93% of the country, and shrub's tax cuts have saved me more than a couple thousand dollars. i'd have bery happily given it up for a democrat in the oval office, but now i have to give it up ANYWAY so shrub can give even more tax breaks to people who are much better off than i am.

got that, i earn more than 93% of the country, and i'm STILL one of the "little people" in shrub's world!

[n2mark]

14. I'm so glad

that I am no longer in the workforce, not only as an employee but a supervisor. If this happens there is going to be much apathy in the workplace, no way would I want to be a supervisor when benefits start dropping. As an employee I could not uplift the employees if this happens. They are already losing too much. Of course being retired there is not a bed of roses promised me either.

It is harder and harder to get out of this depression as all dreams are being taken away.

[Greylyn58]

15. God! This Man Is Unbelievable

I've been out of work for over a year, with no health insurance, and have gone to school for a career change and now I hear this crap.

By the time I'm back in the job market I may have no Social Security or Health Insurance. This is just wonderful! (heavy sarcasm)

Ain't America a great place to work...NOT!!!

The only comfort I get from this is this will affect everyone...maybe it will open some eyes. Of course I'm not holding my breath, but I can hope.

:argh: