Post by clifburnett on Jun 16, 2009 15:10:23 GMT -5
WASHINGTON - Tax-free health care benefits are attracting the attention of lawmakers looking to pay for providing medical coverage to all Americans. Legislation writers are eyeballing the single largest tax loss to federal coffers -- nearly $200 billion in 2008 for various health care tax breaks, according to the Senate Finance Committee. But opposition is strong to making workers shell out payroll and federal income taxes on dollars they anted up for employer-sponsored health care plans.____(Abilene Reporter News/Trish Choate copy)
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This is a benefit that is currently untaxed by IRS. Example:Texas state employees get $100 a month of their insurance premium paid for by taxpayers. Some companies pick-up the entire tab for insurance premium. The Democratic president(Obama) has now proved he wants "more taxes" and so that little take home pay tax cut could vanish pretty quickly as he uses Ronald Reagan's "Blue Smoke and Mirrors" machine.