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If the profit factor (insurance companies)...

Posted By: Marmann on 2009-03-04
In Reply to: That's why... - mythbuster

...is removed, we will save a TON of money.


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Insurance companies.
I agree the insurance companies need a very, very major overhaul, but do you think the insurance companies are going to do that??? If they would there would be no need for a government run system, but the insurance companies will do absolutely zilch, and things cannot contine the way that they have been going.
I'd like to see the insurance companies

But insurance companies already tell us no

What's the difference who says no?  Some insurance companies pretty much say no to everything but wellness visits - and that's simply so they can find out if you develop a condition, so they can drop your coverage on a threabare excuse, or jack your rates to the moon so you'll have to drop it.  Then no other company has to cover you due to it being preexisting.  I don't want to pay for insurance that only covers me if I'm not sick!


At least if there was universal healthcare, even with a wait, they'd have to treat you eventually instead of NEVER.  And do it for free.


How are insurance companies...

...involved in the transcription of patient notes?


That just doesn't make sense.


Insurance companies and the politicians they buy..

Doesn't anybody in DC have a conscience?  The system as it stands now is disgusting.  They are literally making billions by killing of thousands upon thousands (maybe millions?) of Americans.  Anyone with half a brain should recognize profit-driven health insurance only serves the best interest of the CEOs of the insurance companies - not healthcare recipients! This needs to change NOW!


I saw my first AMA commercial last night urging people to vote with the millions of uninsured Americans in mind.  I loved it!  It is at least a step in the right direction.  Vote with the healthcare crisis in mind people!


Insurance companies cont...sm
You made reference to the fact that you already are paying through the nose for insurance premiums and don't want to end up paying even more to cover the uninsured.

I think the general gist of reform is to guarantee access to all, and at the same time, lower the costs for people such as yourself.

Whatever direction health care reform takes it will take government intervention, either in terms of mandating what insurance companies can charge for policies for all people, likely putting caps on prohibitive prescription drugs and windfall profits made by health care providers and hospitals, etc.

What the US spends on health care is far, far above what every other country pays for health care, and that is not because the US has superior care in many cases. It's a profit driven business that has become extremely out of control. It cannot continue in its current business as usual form, as it is no longer working to the benefit of most.
OK, I'll bite. What insurance companies and when?
Insurance companies have ALWAYS been a for profit idea. So they need to collect premiums from people who ARE NOT sick to cover the thousands they pay out for someone else who IS sick. So how is this going to work? Like I said, if this becomes a reality, I for one am going to immediately drop my coverage until such time as I need it. Unless their other healthy customers are stupid, they are going to do the same. So then the only people who will be paying insurance premiums are the ones who are also using their policies to fund their heart transplants, chemotherapy, whatever. Take a guess what their premiums are going to be.


President is going after overblown insurance charges, crooked insurance plans, .....sm
crooked hospital systems that have become quite prosperous "businesses" on the backs of the elderly, but he is NOT AGAINST the eldery getting good solid care, that is political hogwash and propaganda, you wise up and read up, and I don't mean from Fox or Coulter of Limbaugh or one of the Pub sources......

http://www.bloomberg.com/apps/news?pid=20601087&sid=av1lMcI6E1no&refer=home

http://www.barackobama.com/issues/healthcare/
it's not for profit.
That's the big difference. the money is used for missions, etc. Let's face it, if church was a business the govt would love to get their hands on the taxes. Churches are tax exempt because they are not for businesses.
AND MADE A PROFIT!
http://www.youtube.com/watch?v=Cm5jQEh7exg
I interpret that to mean 30% of the PROFIT, if any...sm
would go to help the low and middle class strapped people who can not now afford their mortgage, but only if and after the $700 billion is repaid. No?

Well, duh. Of course they're for profit
That's why Obama wants a government run healthcare system, so he can dictate EVERYTHING. He wants a government run EVERYTHING as well, so he can dicate everything, because God only knows what we would have done without him all these generations, making our own way and building our own businesses, getting through the great depression, droughts, famine, long before he showed up, only to have him now tell us he'll take care of us. We're such feeble helpless individuals.




profit taking
The rules have not changed yet and the hedge funds are still running loose, betting ups, betting downs. Everything they were doing to get us into this mess is still going on and still legal. Leverage is still high.
Unless their PROFIT from that business exceeds...sm
$500,000 a year ($250,00 x 2 if both work in the business) they will not pay additional taxes.
It is the business owner's profit that he...sm
takes home after all expenses are paid.
actually, it is not a factor

in my voting choice.  Progressives can understand human fraility.  As we all know, in this sexy-sexy business of medical transcription, one can face some rompin' stompin, fierce temptations.  John Edwards went way past the mark with the baby and the coverup and all.  Look at the man who replaced Elliott Spitzer.  He 'fessed up right away and no one ever speaks of it anymore.


 


I have no problem with a non-profit, non-federally funded...sm
establishment having a code of ethics including religion that is exclusive of other religions.

But I think it is hypocritical to take federal funds and then be exclusive to only your group. It's like taking money out of my pocket and then telling me that I can't participate.
Credibility Factor

Wow, if my in-laws (in their 80s) knew that they were looked upon like that, I'd get a black eye (and deserve it) Incidentally, they could do it, too. They travel abroad, work out, all that stuff.


Maybe we should get a little sampling of how many fossilized 70YOs there are out there. I'm embarrassed for you.


It also seems to me that anyone who could endure the worst imaginable torture for 5 years must be made of something. 


Is that the best ya got?


Because the rumor factor has taken this to mean
nm
Here is where that comes from......fear factor
Brad Sherman is right....sorry bunch of cowardly people we put in there who brown-nose out of nothing more than fear that they feed on with each other. Nothing written in cement.....just the fear factor!

http://revolutionarypolitics.com/
actually he says that would not be a qualifying factor -
I've never imposed a litmus test on Supreme Court nominees
Q: Could you ever nominate someone to the Supreme Court who disagrees with you on Roe v. Wade?
McCAIN: I would never, and have never in all the years I've been there, imposed a litmus test on any nominee to the Court. That's not appropriate to do.

Q: But you don't want Roe v. Wade to be overturned?

McCAIN: I thought it was a bad decision. I think that decision should rest in the hands of the states. I'm a federalist. And I believe strongly that we should have nominees to the Supreme Court based on their qualifications rather than any litmus test. They should be judged on their qualifications. I will find the best people in America who have a history of strict adherence to the Constitution. And not legislating from the bench.

Q: Even if it was someone who had a history of being for abortion rights?

McCAIN: I would consider anyone on their qualifications. Someone who has supported Roe v. Wade, that would be part of those qualifications. But I certainly would not impose any litmus test.

Source: 2008 third presidential debate against Barack Obama Oct 15, 2008
Trust factor

You know, Sam, I don't know if Obama is trustworthy or not.  I don't know him and I don't know John McCain.  I think we would all do well to keep an eye on the direction of our country.  I really, really thought McCain would end up in the White House but with the landslide electorate vote I don't see any way that could possibly happen now.  Maybe it would be a good idea to get to work on doing away with the electorate.  The popular vote should be enough.  It appears to me that elections are decided really just by a few states.


Sooooooo I'm not really sure that we have time to worry about whether we trust the new president or not.  I don't trust any politicians but the cards have been dealt and there's plenty we all need to do.


John McCain said she sold it at a profit on ebay. nm
.
Alaskans do get a check based on oil profit taxes that are...sm,
charged by the Alaskan government. That is why the poor Alaskans support her and agree to the rape of their land. A few thousand dollars is a lot of money to them.
Yep, the "if its true" factor.

Our next President WILL be a huge factor
xx
I saw clips of that on The O'Reilly Factor.
I was cracking up.  "Your name is Joy.  You're supposed to be joyful."  LOL!  If she wants to be on a TV show like that, she really does need to lighten up and at least add to the conversation instead of just acting like she has a severe case of PMS.
Does the calculator also factor in lies!

xx


Various Bush members enjoy profit from human suffering.

Two articles below:


http://www.latimes.com/news/printedition/asection/la-na-bucky23mar23,1,7624344.story?ctrack=1&cset=true


From the Los Angeles Times


Bush's Uncle Earned Millions in War Firm Sale


An SEC filing shows William H.T. Bush collected about $1.9 million in cash, plus stock valued at $800,000, from the deal.


By Walter F. Roche Jr.
Times Staff Writer

March 23, 2006

WASHINGTON — As President Bush embarks on a new effort to shore up public support for the war in Iraq, an uncle of the commander in chief is collecting $2.7 million in cash and stock from the recent sale of a company that profited from the war.

A report filed with the U.S. Securities and Exchange Commission shows that William H.T. Bush collected just under $1.9 million in cash plus stock valued at more than $800,000 from the sale of Engineered Support Systems Inc. to DRS Technologies of New Jersey.

The $1.7-billion deal closed Jan. 31. Both firms have extensive military contracts.

William Bush was a director of Engineered Support Systems. Recent SEC filings show he was paid cash and DRS stock in exchange for shares and options he obtained as a director.

Before DRS purchased it, Missouri-based ESSI experienced record growth as a result of expanded U.S. military contracts — many to supply U.S. efforts in Iraq and Afghanistan.

The contracts, some awarded on a no-bid basis, include a $77-million deal to refit military vehicles with armor for use in Iraq.

Other ESSI products used in the war include radar and detection services, field medical stations and field electrical generator units.

SEC filings show that two federal investigations of ESSI are underway. One inquiry involves a stop order from the government on the field generators. The order was issued because the units didn't operate properly.

The generator contract was a major source of revenue. SEC files show that ESSI did not tell stockholders about the stop order until last June, about seven months after it was issued.

During the interim, several ESSI executives, including Bush's uncle, cashed in stock and stock options worth millions of dollars, the filings show.

According to one recent filing, the SEC and the U.S. attorney in St. Louis are investigating the delayed disclosure and other matters.

Unnamed members of the ESSI board and corporate officers have been subpoenaed in the inquiry, according to documents.

SEC filings show that William Bush, 67, exercised options on 8,348 shares of ESSI stock on Jan. 18, 2005, about two months after the stop order was issued and six months before it was disclosed. He collected about $450,000 in cash.

Bush, known as Uncle Bucky in the president's family, joined ESSI's board in 2000, several months before his nephew became president.

He heads a St. Louis investment firm and is the youngest brother of former President George H.W. Bush.

He declined to comment Wednesday. However, in an interview last year, he said he played no role in ESSI's winning federal contracts.

I don't make any calls to the 202 [Washington, D.C.] area code, he said.

Patricia Williamson, a spokeswoman for DRS, would not comment on the status of the federal investigations.

The company has said it is cooperating in the probes, which also involve an ESSI insurance contract.

_________________________________________________________________


March 22, 2006, 11:58PM


Former first lady's donation aids son


Katrina funds earmarked to pay for Neil Bush's software program


By CYNTHIA LEONOR GARZA
Copyright 2006 Houston Chronicle


Former first lady Barbara Bush donated an undisclosed amount of money to the Bush-Clinton Katrina Fund with specific instructions that the money be spent with an educational software company owned by her son Neil.


Since then, the Ignite Learning program has been given to eight area schools that took in substantial numbers of Hurricane Katrina evacuees.


Mrs. Bush wanted to do something specifically for education and specifically for the thousands of students flooding into the Houston schools, said Jean Becker, former President Bush's chief of staff. She knew that HISD was using this software program, and she's very excited about this program, so she wanted to make it possible for them to expand the use of this program.


The former first lady plans to visit a Houston Independent School District campus using the Ignite program today to call on local business leaders to support schools and education.


The trip to Fleming Middle School is intended to showcase Bush's commitment to education for both Houston-area and New Orleans evacuee students, according to a press release issued Wednesday by Ignite.


Fleming, which has more than 170 New Orleans students, was one of eight area schools chosen by the Harris County Department of Education to receive a donated COW, or Curriculum on Wheels, multimedia program after Hurricane Katrina.


Neil Bush founded Austin-based Ignite Learning, which produces the COW program, in 1999.


Becker said she wasn't at liberty to divulge how much money the Bush family gave to the hurricane funds, but said the rest of their donation was not earmarked for anything.


Nationally, some other donors also specified how they wanted their donations spent, Becker said.


For example, one man wanted his money to go to Habitat for Humanity but via the former presidents' fund. Nearly $1 million has been raised for the local fund and more than $120 million for the national.


Regarding the fact that Bush's earmarked donation also benefited her son's company, Becker said, Mrs. Bush is obviously an enthusiastic supporter of her son. She is genuinely supportive of his program, and has received many letters from educators who support it. Bush honestly felt this would be a great way to help the (evacuee) students.


Barbara and Neil Bush presented the donated programs to Houston-area schools this winter.


Districts that received the free curriculum include Houston, Alvin, Katy, Pearland and Spring and the New Orleans West charter school.


There are 40 Ignite programs being used in the Houston area, and 15 in the Houston school district, said Ken Leonard, president of Ignite.


Information about the effectiveness of the program, through district-generated reports, was not readily available Wednesday, according to an HISD spokeswoman.


Two years ago, the school district raised eyebrows when it expanded the program by relying heavily on private donations.


In February 2004, the Houston school board unanimously agreed to accept $115,000 in charitable donations from businesses and individuals who insisted the money be spent on Ignite. The money covered half the bill for the software, which cost $10,000 per school.


The deal raised conflict of interest concerns because Neil Bush and company officials helped solicit the donations for the HISD Foundation, a philanthropic group that raises money for the district.


HISD school principals decide for themselves whether to spend their budgeted money on Ignite.


Leonard said that in the past six to eight months, the company has hired national sales representatives across the country — in Florida, New York, Pennsylvania, Georgia and Nevada — in hopes of expanding beyond Texas. Currently, about 80 percent of the company's customers are from Texas.


Last year, Neil Bush reportedly toured former Soviet Union countries promoting Ignite with Russian tycoon Boris Berezovsky.


According to the Times of London, Berezovsky, a former Kremlin insider now living in Britain, is wanted on criminal charges in Moscow accusing him of seeking to stage a coup against President Vladimir Putin.


The purpose of today's event is to showcase everyone's efforts in helping the hurricane evacuee students who ended up in Houston, Leonard said.


We have a role, but we're not the leader in this, Leonard said. He also acknowledged that his company will benefit from the former first lady's visit.


Barbara Bush is expected to observe both teachers and students using the Ignite Learning program while touring classrooms, according to the Ignite press release.


During a short reception, teachers and students will give testimonials about the program and Bush will encourage community business leaders to have a stronger presence in supporting schools and education, the press release said.


The free-standing instructional tools that are not dependent on the Internet. They include a built-in computer, projector and speakers and come pre-loaded with science and social studies courses.


cynthia.garza@chron.com











 



HoustonChronicle.com -- http://www.HoustonChronicle.com | Section: Houston & Texas
This article is: http://www.chron.com/disp/story.mpl/headline/metro/3742329.html




Bottom line...they made a 68 million dollar PROFIT.
PROFIT is AFTER expenses. So I am thinking they are doing pretty darn well, don't you? They are not in it for the goodness of their hearts.

And it says plainly on the website they will take checks for anything but abortions. So that says to me cash or credit card. IF there is another explanation for that, please share.

It has been awhile since there was a bombing or a shooting, and I don't condone either. Killing abortionists or bombing clinics is not the answer. Changing minds and providing alternatives is the answer. But going with the flow and remaining quiet while mass murder of the unborn goes on is something I cannot do, and sorry if I find it horrifying that PLanned Parenthood makes such a KILLING for killing. THere is THAT.
Can anyone say "spend your $$$ wisely?" Do you realize their profit margins over the years?..
nm
The running mate will be an important factor
I think McCain really needs a good running mate. I really liked Tancreda when he was running. A lot of my viewpoints aligned with his. I also like Ron Paul or Colin Powell (not sure if Powell is Dem or Rep), so if he picks a decent running mate who is "on the ball" about foreign and domestic issues (I think McCain is going to need all the help he can get) he may stand a good chance of winning, otherwise it's going to be hard to know who they will choose to be president.
The health care costs are the factor that
takes UAW hourly wages from $28 to $73, along with their other benefits, pension, matching funds and the like. The national insurance coverage was what I was referring when talking how the new administration may or may not impact this situation. The nonunion figures I gave are for the US Toyota workers. I don't think they can take advantage of the national insurance coverage the global Toyota workers have, but I could be mistaken. The more we talk about this, the more interesting it becomes. I wish I knew where to go to get reliable information on this.
Oh I sorry, yeah, sure the people are the deciding factor
Yeah, right people really are the ones who decide who the president will be. Yeah, right, okay.
Obama could produce FEAR FACTOR!

It's funny how Obama can ramble on and on and on about all the Americans out of jobs; however, he refuses to enforce the E-Verify bill already in place to make sure NO illegals continue to take their jobs, which they are.   He couldn't give a rats butt about those jobs.  The proof is in his lack of doing anything about the illegal invasion in this country.  He's very good at using all his fear tactics with all his big adjectives and descriptives out the ying yang, but he hasn't done ONE SINGLE THING to stop American employers from giving illegals American citizens' jobs. 


He's just wanting that stimulus package passed so bad, he'll continue to get on TV and promote more fear....................


And for those posters who said he has taken ALL THE PORK OUT DAYS AGO, get in the real world, will ya?  He JUST said on his little announcement that there is PORK that needs to be taken out STILL.     All I hear now is blah, blah, blah, blah.................


He can sign 5 executive orders in his first 3 days of office but he can't enforce E-Verify!  That big fat smile doesn't make me melt and it doesn't fool me either.  He ain't got what it takes.


Now all you O lovers can flame away........... then tell me why he can't enforce E-Verify!  It's a law ya know!!! You'll probably have to look it up first. 


 


Heard the same blather from the Oreilly rumor factor
the NY Times, Rasmussen, Gallup, etc., all in response to his dive in the ratings, taking third place behind KO and RM on MSNBC and AC on CNN. "They MUST be rigged," he blustered in protest. You don't like polls? Fine. Check out the electoral map.
http://election.princeton.edu/electoral-college-map/
The 'it' factor: Let's give Obama a change, at least...
the last 8 years were not good years.
Isn't charisma and attractiveness in all fields of life a major component for success? Besides all other qualifications?
I agree, corrected myself in a post below. I shouldn't have added that part as a factor nm
x
oil companies
There was just a senator from North Dakota debating on the senate floor (MSN sometimes has live video feed in the net, quite interesting..they also carried the John Roberts questioning which I watched)..Anyway this senator..I didnt get his name, he and Senator Barbara Boxer from CA are introducing a bill that would give rebates back to the people because of the high gas and oil prices we are paying.  He said, it would be different if the oil companies were using their profits to look and drill for oil but they are using it to buy back their stock and invest in wall street.  He said last year they made over a trillion dollars!  He said some of that profit should go back to the consumer who is carrying a heavy load right now and the oil companies are doing nothing but make a profit.  He said it is estimated oil prices for this winter will increase by 40% and natural gas by 70%. 
oil companies

if one of your most pressing concerns is that the large corporations are being abused by government, keep reading.  Have you seen news reports on the executives are given huge million dollar bonuses and pensions? A lot of them "earn" them by closing facilities, firing workers, destroying unions, downsizing or removing benefits from workers.  Our benefits go down; corporate execs compensation are sky-rocketing.  The history-making profit of the oil companies this quarter in the billions?  Do they still need more tax breaks?  Sorry, my sympathy and concern for the well-being of these corporations is minimal to none.


 But if you really want to protect the corporations, vote McCain!


 


 


If they help car companies out, they will have to

do it again and again for the next 2 years because that is how long it is going to take car companies to make a good economy vehicle.  If government bails them out, next will come airlines and so on.  We do not have enough money to bail them out for the next 2 years.  Those companies BURN money each month. 


Do not get me wrong, I do want the American car companies bailed out.  I WILL ONLY OWN AMERICAN MADE CARS.  NEVER will buy a foreign made car so I can help the car companies stay in business.  Geesh, I am from Michigan, born and raised there for 18 years.  Most of my family is from Michigan on my mother and father's side.


If the car companies fold, we could have the Great Depression or close to it.  Shoot, Toyota and Honda, etc., could buy our car companies and now will be foreing made cars only.  It is a mess, chaos mess.  What I do know is most of my family in Michigan blame the American car companies.  My cousin just took early retirement from them 3 weeks before the US financial mess.  Thank God he did.  A 3 car companies had years to design and make cars better than Toyota, but did not.  Some of my family members blame the gas companies for jacking up the price of oil which is what started the car companies to have problems.  If only the oil companies did not raise it to 4.00, our 3 American car companies just might not be in the mess they are in.  So now my family believes it should be the OIL COMPANIES to bail them out since they started the mess with high gas prices.  Family actually do not want the government to bail out car companies because the costs will be from you, me, and the USA and will go on and for the next 2 years.  Family wants them to stop production, think about what to build next and then start building it.  The 3 car companies need to make what consumers want and need. 


It is a mess and horrible.  I personally do not want so many jobs to be lost.  It is such mixed feelings.  I just want new jobs created NOW.  Drill, drill, drill, and create new technology and start building and working by all of us coming together and creating new jobs and what we really need for these new jobs.  Hope this all makes sense, I am really tired from a long night of working. 


So do we let the car companies die for now?
Make them think about what to build next?  Or they will just fold up and we end up having to buy foreign made cars on US soil. 
Drug companies
Why is it that other countries have American made medications so much cheaper than America.  The argument has been well we pay the extra amount so drug companies can do research.  Why us?  We are expected to pay more for medications and also health benefits when other countries have universal healthcare and lower drug costs.  It isnt right that Americans foot the bill for the world to enjoy the medications we produce at less cost than us.  It isnt right that Americans have to go bankrupt when faced with a major illness because either their healthcare is inadequate or they dont have healthcare.  If this administration really cared about what Americans need most, they wouldnt be talking about Social Security, they would be devising a universal health plan for all Americans.  Some say that would be socialized medicine.  Heck, when you dont have any health coverage, socialized medicine is better than nothing.
Maybe the tobacco companies have
I suppose that is another reasonable explanation as to why he would veto a bill that only promised to raise the cigarette tax.  Too bad so many of the politicians that are supposed to work for us work for big business.  I'm so disapointed in our government today.
You've got to think of all the other companies

that would go out of business if the auto industry tanks, not to mention the auto workers themselves (what's left of them).


I don't think it would be a good idea. They stated 3 million people would lose their jobs if they let the industry tank. That would really throw us into a depression.


Actually, I agree, these companies

all 3 didn't  just hit bankruptcy level at the same time.  As a matter-of-fact I seriouisly doubt they are even in a financial crisis.  I think they've been working up to this panic for the past 6-8 years.  Unfortunately your husband and other companies that have supplied the big 3 are going to suffer.  I think this is all a smoke screen and what they REALLY want is to get out from under their union contract.  Do you really think if that happens they are going to lower the costs of their cars?  Nope.  They'll take as many billion as they can wanagle out of Bush and then file BK which will let them out from under their union contract.  Then miracously they'll recover.


As for people and their big Hummers, SUVs, etc.  That is a bit on the "look what I've got" front.  I think those Hummers are undoubtedly the UGLIEST things I've every seen.  I know a couple of people who bought them with payments approaching $1000 a month and they worry how they're going to pay their gass bill.  BOOHOO!!!


Things are going to get rough for all of us.  Even if Obama does what he promised, it probably won't be in his first term.  It will take him that long to undo 8 years of Bush....not to mention Clinton before him and Big Daddy before him.


I took it for what it IS -- companies getting TAX BREAKS
Although English grammar & keyboarding can be taught to just about anyone, the deep-down knowledge of language, word & phrase patterns, ability to spell and acute hearing are things you're either born with, or your're not.

Bottom line: American work should be done in AMERICA. Let India and Pakistan support their growing middle class some OTHER way, because the United States is losing their middle class. If something doesn't change, there will only be 2 classes in this country - the very rich, and the very poor. The middle class, which USED to support both of them, will be nonexistent.
I feel bad for the companies that are being

taken down with them, though. They don't deserve it.


GE stock on Friday was only $.10 a share. So sad. Other stocks are just as bad and some of them were good ones before all this started.


 


Health insurance
I'm not sure about that specific point, but in her plan if you don't purchase medical insurance your wages will be garnished. How's that for communism?
You're right about the mtg. insurance
It also irks me that somehow we are being asked for $700 billion to help these companies when $700 billion would go a long way toward ensuring Americans have health insurance - what about that Mr. Bush?
mccain - insurance
The Truth about the McCain-Palin Health Care Plan

"


Barack Obama And Joe Biden Have Consistently Lied To Americans About John McCain's Plan. Their claims have failed every fact-check - from CBS to the Washington Post. John McCain is not going to raise taxes on middle class families. Barack Obama and Joe Biden are the only ones in this race that plan to raise taxes.


Get



OBAMA FICTION
John McCain Will Tax Health Care Benefits For The First Time And Will Be the Largest Middle Class Tax Increase In History.


THE FACTS
This Obama charge is a blatant mischaracterization of the McCain Health Plan. It only focuses on the fact that the value of the employer provided insurance will now show up as additional income for the employees – what he fails to mention – is that John McCain’s generous refundable tax credit ($5,000 for families and $2,500 for individuals) will not only shield millions of families from a tax increase but will actually give them MORE dollars to invest in their health care needs.


The McCain Plan DOES NOT tax:



  • Premiums paid by families and individuals


  • Employers for providing health care coverage


  • Medical expenses like the cost of a procedure or medication


  • Insurance claims

Approach Supported By Obama’s Own Advisor: This is an approach supported by Barack Obama's own Senior Economic Advisor Jason Furman who wrote that "we could scrap the current deduction altogether and replace it with progressive tax credits that, together with other changes, would ensure that every American has affordable health insurance."


Better Than "Members of Congress":  Under the McCain Plan, your employer can provide you with health insurance  as good as a "Member of Congress" (approximately $12,000), and you would pay no  more in taxes – regardless of your tax bracket.  In fact, you would have additional money left over from the McCain tax credit to put in a health savings account.








 
Income Tax Liability

McCain-Palin
Tax Credit

Total Tax Savings
































10% Bracket
(Up to $15,000)
$1,200 ($12,000 x 10%) $5,000 +$3,800
15% Bracket ($15,650 - $63,700)
$1,800 ($12,000 x 15%) $5,000 +$3,200
25% Bracket ($63,700 - $128,500)
$3,000 ($12,000 x 25%) $5,000 +$2,000
28% Bracket ($128,500 - $195,850)
$3,360 ($12,000 x 28%) $5,000 +$1,640
33% Bracket ($195,850 - $349,700)
$3,960 ($12,000 x 33%) $5,000 +$1,040
35% Bracket ($349,700 and Over)
$4,200 ($12,000 x 35%) $5,000 +$800

Where Is The Middle-Class "Tax Increase"?   If you or your family is in the 28% bracket, with an income of $180,000, you could receive employer provided health insurance even better than a Member of Congress, with a cost of almost $18,000, with no increase in taxes. Even the liberal leaning Tax Policy Center, agrees that the McCain proposals will result in a "net tax benefit" of more than $1,200 for an average tax payer. A recent Lewin Group study estimated savings of more than $1,400 per American family – almost three times the savings as under the Obama plan.