Sep 21
Who Benefits from President Bush’s Proposed Health Insurance Tax Break?
With all the buzz about President Bush’s new tax changes for those who own health insurance, everyone is busy crunching the numbers. Those who currently gets insurance through their employers are trying to figure out if they’ll be one of the unlucky ones who will be taxed to pay for Bush’s proposed new tax changes. Even the self employed who currently deduct health insurance premiums from their income tax are figuring out if their health insurance total breaks Bush’s prescribed ceiling.
So who will benefit from the health insurance tax change? For starters, the 17 million Americans who currently purchase their own health insurance without tax benefit. This was the goal of Bush’s change. The other hoped for benefit is that some of those millions of uninsured Americans will now be able to afford to buy health insurance now that there will be a tax break.
Behind this proposed tax break stands, obviously, the Bush administration but also a slew of economists who oppose what they consider to be waste in healthcare spending due to overly high health insurance. Their hope is that with this awareness of health insurance spending will come lower health insurance premiums and more affordable health care in general.
Similar plans during the Clinton and Reagan administrations didn’t work, but who knows? I guess, we’ll have to wait and see.
(No Ratings Yet)
Loading ...
Print This Post
