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TAX THE SICK: OBAMA'S NEW PLAN
By DICK MORRIS & EILEEN MCGANN
Published on DickMorris.com on October 8, 2009
Faced with a need to scrounge for revenue to fund his plan for health care,
President Barack Obama and Senate Finance Committee Chairman Max Baucus
have come up with a brilliant new idea: Tax the sick!
In a new amendment to the health care bill, they propose to limit the
deductibility of medical expenses on income taxes.
Now, taxpayers may deduct any medical expenses that exceed 7.5% of their
Adjusted Gross Income. Obama and Baucus want to raise that threshold to
10% as long as the taxpayer is under 65.
Eight million Americans are sick enough and poor enough that they have to
pay more than 7.5% of their income in medical expenses. And it is these
folks that the liberals Obama and Baucus plan to tax! Six million of them
earn less than $75,000 a year!
For a family earning $75,000 a year and facing out-of-pocket medical bills
of $7, 500, this proposal would cost them about $600 a year in extra taxes.
And let's remember who it is that they are taxing. This proposal affects
people whose incomes are so limited and whose medical costs are so high
that they exceed 7.5% of their pre-tax income.
Their proposal literally hopes to raise $20 billion over ten years by
taxing sick people.
The Democrats defend their proposal by saying that it would discourage
health care spending. But nobody deliberately spends 7.5% of their income
on medical costs unless they are pretty sick and needy.
Obama and Baucus have singled out the sickest among the middle class for
this heinous tax. (The poor will not have to pay it because they are
eligible for Medicaid). Originally, the Democrats continued their war on
the elderly by proposing to tax everyone who spends more than the 7.5%
threshold on medical costs. But they retreated when it became clear that
six million elderly would be hit with the tax. Now they just sock it to
eight million sic k, middle income Americans.
This tax, and their desire to cut Medicare and Medicaid by $500 billion,
makes Obama and Baucus unlike any Democrats I have ever known. Democrats,
at least when I worked for Clinton, defended the elderly and the sick
rather than cut the former and tax the latter.
Economic Crisis: Who's To Blame? - Vote Now!
http://www.personalliberty.com/poll/government-rescuing-economy-bailouts/index.php?SC=BEL1150
Go to DickMorris.com to read all of Dick's columns!
__________________________________________________________________________________________________________________________________________
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THESE COLUMNS E-MAILED TO THEM FOR FREE BY SUBSCRIBING AT DICKMORRIS.COM!
THANK YOU!
By DICK MORRIS & EILEEN MCGANN
Published on DickMorris.com on October 8, 2009
Faced with a need to scrounge for revenue to fund his plan for health care,
President Barack Obama and Senate Finance Committee Chairman Max Baucus
have come up with a brilliant new idea: Tax the sick!
In a new amendment to the health care bill, they propose to limit the
deductibility of medical expenses on income taxes.
Now, taxpayers may deduct any medical expenses that exceed 7.5% of their
Adjusted Gross Income. Obama and Baucus want to raise that threshold to
10% as long as the taxpayer is under 65.
Eight million Americans are sick enough and poor enough that they have to
pay more than 7.5% of their income in medical expenses. And it is these
folks that the liberals Obama and Baucus plan to tax! Six million of them
earn less than $75,000 a year!
For a family earning $75,000 a year and facing out-of-pocket medical bills
of $7, 500, this proposal would cost them about $600 a year in extra taxes.
And let's remember who it is that they are taxing. This proposal affects
people whose incomes are so limited and whose medical costs are so high
that they exceed 7.5% of their pre-tax income.
Their proposal literally hopes to raise $20 billion over ten years by
taxing sick people.
The Democrats defend their proposal by saying that it would discourage
health care spending. But nobody deliberately spends 7.5% of their income
on medical costs unless they are pretty sick and needy.
Obama and Baucus have singled out the sickest among the middle class for
this heinous tax. (The poor will not have to pay it because they are
eligible for Medicaid). Originally, the Democrats continued their war on
the elderly by proposing to tax everyone who spends more than the 7.5%
threshold on medical costs. But they retreated when it became clear that
six million elderly would be hit with the tax. Now they just sock it to
eight million sic k, middle income Americans.
This tax, and their desire to cut Medicare and Medicaid by $500 billion,
makes Obama and Baucus unlike any Democrats I have ever known. Democrats,
at least when I worked for Clinton, defended the elderly and the sick
rather than cut the former and tax the latter.
Economic Crisis: Who's To Blame? - Vote Now!
http://www.personalliberty.com/poll/government-rescuing-economy-bailouts/index.php?SC=BEL1150
Go to DickMorris.com to read all of Dick's columns!
__________________________________________________________________________________________________________________________________________
PLEASE FORWARD THIS E-MAIL TO FRIENDS AND FAMILY AND TELL THEM THEY CAN GET
THESE COLUMNS E-MAILED TO THEM FOR FREE BY SUBSCRIBING AT DICKMORRIS.COM!
THANK YOU!