Now the truth starts to come out of McCain's camp

[Mr. Big Dog 10,747]

McCain's tax proposal

Under McCain's plan, employees would get taxed on the value of their health insurance, which on average costs $12,680 per year for a family, according to the Kaiser Family Foundation. Workers pay an average of $3,354 in premiums, while their employers cover the rest.

Most employees have their premiums deducted from their paychecks without paying tax on them. So, if you make $50,000, you are likely paying tax on only $46,646 of income.

Under McCain, your taxable income would rise to $59,326. If you were in the 25% tax bracket, it would mean an additional $3,170 in taxes.

But this increase would be knocked back by the $5,000 tax credit. So in the end, you'd actually have $1,830 to put in a health savings account, which could be used to cover premiums and other medical expenses.

Experts, however, fear that eliminating the tax advantage of employer-based coverage would prompt younger, healthier workers to leave their office plans. If that happened, costs for the remaining workers could skyrocket. Companies may drop coverage altogether.

"If companies know their employees have the tax credit, it relieves them of the burden of providing coverage," said Sara Collins, who directs a health insurance program at the Commonwealth Fund. McCain's plan "moves people out of the employer system and to the individual market."

Some 74% of companies said that eliminating the tax exclusion would have a "strong negative impact on their workforce," according to a September survey by the American Benefits Council.

Estimates vary, but the Tax Policy Center estimates that 20 million people would lose their employer-based coverage by 2018. Roughly the same number would gain insurance through other means. But, overall, McCain's plan would do little to reduce the number of uninsured.

Also of concern, experts say, is the fact that the $5,000 tax credit would be indexed to inflation. As a result, it would not keep up with the swiftly rising cost of health care, which was soaring as much as 13% a year in the middle of this decade.

McCain advisers counter these concerns. Changing the tax treatment wouldn't hurt the employer-sponsored system and would allow more of the uninsured to buy their own coverage, they say. Also, his advisers say a McCain administration would keep an eye on the credit to make sure it didn't lag behind the cost of coverage, while also working to lower the rate of medical inflation.

Younger, healthier workers likely wouldn't abandon their company-sponsored plans, said Douglas Holtz-Eakin, McCain's senior economic policy adviser.

"Why would they leave?" said Holtz-Eakin. "What they are getting from their employer is way better than what they could get with the credit."

So, they admit that the very system McCain's plan would likely dismantle provides better and more affordable benefits than the free market "solution" that they want to unleash upon the American people ever will. It's great that McCain's top economic policy adviser let that cat out of the sack prior to election day.

[Niels Bohr 72]

Looks like the Obama group here can bash McCain into the Grave.

Play safe everyone!

[spookyturtle 9,466]

Follow like good sheep.

[Marilyn. 340]

Follow like good sheep.

do you have anything else to say or contribute?.. your sheep's and baas are betting very annoying ..

[spookyturtle 9,466]

Follow like good sheep.

do you have anything else to say or contribute?.. your sheep's and baas are betting very annoying ..

No. And all of the Palin and McCain bashing is annoying. I am merely trying to annoy the sheep. Who knows, I may even vote for Obama, but I'm not a sheep.

[Marilyn. 340]

Follow like good sheep.

do you have anything else to say or contribute?.. your sheep's and baas are betting very annoying ..

No. And all of the Palin and McCain bashing is annoying. I am merely trying to annoy the sheep. Who knows, I may even vote for Obama, but I'm not a sheep.

well good for you then.. carry on ...

[Sofiyya 1,687]

Follow like good sheep.

do you have anything else to say or contribute?.. your sheep's and baas are betting very annoying ..

No. And all of the Palin and McCain bashing is annoying. I am merely trying to annoy the sheep. Who knows, I may even vote for Obama, but I'm not a sheep.

I must add that if there was such certainty that Obama/Biden will win, there would not be so much McCain/Palin bashing, so I'm comforted by it. Every bashing thread speaks sweet volumes!

Edited October 29, 2008 by Virtual wife

[IAMX 3,055]

So lowering taxes was all just a front. And making more uninsured certainly is going to help.. uhh, who? Oh that's right, no one.. except the insurance agencies, of course.

But #### the normal working people, what's best for the business is best for the country.

Sounds like some new modified communist manifesto for the corporation. Where are all you red scare people at?

Edited October 29, 2008 by SRVT

[Niels Bohr 72]

Technically, I have followed the Obama/Biden campaign and have not come across a time when the followers bashing the McCain camp as agressively when compared to the McCain bashing Obama.

[Mr. Big Dog 10,747]

This isn't about bashing anyone, it's about the fact that McCain's campaign has come out to say that their tax credit won't pay for quality health insurance. Not even for young and healthy folks. One can only imagine what that means for those that are not young or healthy, let alone those that are neither young nor healthy.

[Ban Hammer 13,346]

Follow like good sheep.

do you have anything else to say or contribute?.. your sheep's and baas are betting very annoying ..

Technically, I have followed the Obama/Biden campaign and have not come across a time when the followers bashing the McCain camp as agressively when compared to the McCain bashing Obama.

you've not been reading much of off topic, have you?

[rupa 2]

Technically, I have followed the Obama/Biden campaign and have not come across a time when the followers bashing the McCain camp as agressively when compared to the McCain bashing Obama.

o.k. well then here.....

http://hillbuzz.wordpress.com/2008/10/26/o...in-gainesville/

[yogib37 3]

This isn't about bashing anyone, it's about the fact that McCain's campaign has come out to say that their tax credit won't pay for quality health insurance. Not even for young and healthy folks. One can only imagine what that means for those that are not young or healthy, let alone those that are neither young nor healthy.

Yes, also his plan will not require insurance company to take on pre Existing conditions. So if someone ( like me ) who has a pre existing condition and has employer health coverage, and if my company decided to drop it, under McCanin health plan I would be totaly FCUKED,

[yogib37 3]

Technically, I have followed the Obama/Biden campaign and have not come across a time when the followers bashing the McCain camp as agressively when compared to the McCain bashing Obama.

o.k. well then here.....

http://hillbuzz.wordpress.com/2008/10/26/o...in-gainesville/

That is so wrong. I mean what a disgrace. ( the pictures in the link)

[HAL 9000 96]

Technically, I have followed the Obama/Biden campaign and have not come across a time when the followers bashing the McCain camp as agressively when compared to the McCain bashing Obama.

Some McCainiacs confuse criticizing the politics of McCain with McCain bashing. Meanwhile, all the McCain TV ads I've seen attack falsehoods about Obama the person. Big difference most likely borne out of a hypocritical style and desperation.

This isn't about bashing anyone, it's about the fact that McCain's campaign has come out to say that their tax credit won't pay for quality health insurance. Not even for young and healthy folks. One can only imagine what that means for those that are not young or healthy, let alone those that are neither young nor healthy.

Yes, also his plan will not require insurance company to take on pre Existing conditions. So if someone ( like me ) who has a pre existing condition and has employer health coverage, and if my company decided to drop it, under McCanin health plan I would be totaly FCUKED,

Royally. Hope you don't have to go through that.