Comments on: The Truth About McCain And Insurance Taxes

CBS Evening News Reality Checks Barack Obama And Sarah Palin's Latest Claims

[jasonmcj]

@kateanddale...maybe if you understood what a socialist society is, your comment would make sense.

I''m curious what your defintion is, because no candidate is proposing that.

Also, I''ll direct you to go read up on American histroy, and the history of capitalism. YOu will be surprised to find out that certain small pockets of socialism are REQUIRED in a free market to prevent market failure and exploitation. See: child labor, interstae roads.

On the flip side, sometimes you need social regulation to prevent market failure and greed, as evidenced by yesterday collapse of the half the investment banking industry. Thank runaway capitalism for that one. We''ll more of that with McCain

Histroy shows that capitalsit nations with socialsit programs for heatl, and infrastructure are the healthiest and happiest?

Why do Republicans want to live in an unhappy sick nation...like the way we are now with Bush?

[despido]

Judging from the responses, this article is either poorly written or purposely worded to mislead readers. McCain''s proposal is to tax as income only the portion of the health insurance paid by your employer. If you choose to buy your own, then there is no tax. In addition, all will recieve a tax credit of $2500/$5000 per individual/family to assist in paying for the insurance. For example, my employer pays $3600/yr and I pay $2100/yr toward my health insurance. The $3600 would be taxed as income, in my case at 15% - or $540 tax. The tax credit would be $2500 - or $1960 greater than the tax. So my overall tax burden would drop by $1960.
Obama''s plan is to tax you at an as yet undefined rate, then use your tax dollars to buy a minimal coverage group plan in which you have no choices.

[txgrouch2006]

"Let''s give them a $5,000 refundable tax credit to go out and get the health insurance of their choice," McCain said.

McCain YOU IDIOT!!!!

I work for an insurance company. Group health plans is one of the things we do.

TWO big advantages of group health plans:

ONE is GUARANTEED INSURANCE. I tried to get individual health insurance once. One of my children was uninsurable because of a minor issue. BUT I CAN GET GROUP COVERAGE FOR HER with no questions asked. HOW MANY AMERICANS WILL LOSE HEALTH INSURANCE UNDER MCCAIN''S PLAN?

These individuals will be forced to seek government-subsidized insurance under the "high risk pool" state plans. In Texas, this ofen costs $20,000 per year to cover ONE PERSON. McCains proposed rebate is nowhere near that.

TWO, belonging to a group plan gives you MORE NEGOTIATING POWER. I''ve heard of individuals who were dropped from individual health plans because they developed a condition like diabeted. GROUP PLANS CAN''T DROP YOU. But an individual plan can, and there''s nothing you can do. Now YOU''RE thrown into the "high risk pool."

THIS IS THE PRIMARY REASON I''M VOTING FOR OBAMA. If this is McCain''s idea of "problem solving," he''s unfit for office.

I know nothing about Obama''s solutions, because he skillfully avoids saying anything specific in public. So I have to choose between the unknown and the one who HAS ALREADY STABBED ME WITH A KNIFE.

The unknown wins...

[katendale]

Obama promises everything - but can he deliver.I know times are tough,I don''t want to live in a socialist society no matter what the cost is.

[deacrick]

I don''t see how taxing the benefit and then giving me a rebate check balances out. For family coverage basic plan high deductables etc. I pay $485 a month or $5820 a year. $417 a month equals the $5000 but if that 417 a month is taxed then the real cost is higher. Where do people find family coverage for under $400 a month?

[magoo2u1]

Sounds good to me. Tax my insurance, we can use the money to bail out a bank or two.

Exsqueeze me ? If I pay taxes on the 10k , how does giving me 5k to use help me ? And if I get to shop for insurance elsewhere I lose the strength I have with my employer negotiating for me. I like my insurance as it is , thank you just the same. I need the rest of you insured so my rates go down because right now I''m getting hosed paying the hospital outrageous fees to cover all you un-insured folks out there. Republicans are going to provide a system that helps their fat bellied friends at the country club , not the workers. Working folks are more or less a tool or a cog, use them up and replace them. They aren''t helping them during this financial crisis and they won''t when they are sick either. WAIT, it''s election time : god ,god ,god - homos. There, vote Republican.

[barry_mcgrath]

Talk about voodoo economics. Everyone who has health insurance will have it taxed as income - but don''t worry! Somehow we all get back more than we pay - even though everyone, even the Americans without insurance not paying the tax, are getting the credit. Where''s all the extra money coming from???
The report also forgot to mention that health insurance rates are going up much faster than other costs. So the tax will be increasing at the same rate. I don''t suppose they will be indexing the credit to the cost of insurance will they?? Over time the tax will go up and up but the credit will remain the same. Remember, credits come and credits go but taxes are forever.
Finally - you won''t find an individual policy for the anything near the same rate as your employer pays - assuming the insurance company will write you that individual policy. If you have to get a "high-risk" policy that tax credit won''t amount to much. And there''s nothing to stop insurance companies from classifying anyone as "high-risk." In fact, there''s nothing to stop the insurance companies from doing anything they want. Nothing to worry about there, we all trust the insurance companies to look out for us, right??

[jmurrieta11]

As soon as the government starts taxing health insurance and other benefits at work, they will become addicted to the extra money. The tax credit will evaporate, but the tax won''t. Count on it.

[mycomment1]

McCain''s ins. plan sounds like the same deal credit cards offered where interest on the card was deductible from income tax.A great incentive! When the public became dependent on plastic, banks set the hook.Deductions were phased out, and interest rates climbed to the stratosphere and beyond. Thanks to business pocketed politicians. Time for term limits that way we may be able to cut our losses.
Posted by mrmat527 at 09:17 PM : Sep 15, 2008

It is YOUR responsibility whether or not you pay high credit card interest. You shouldn''t be charging anything you can''t afford to pay for. If you don''t pay your balance in full at the end of the month you are already bankrupt.

[mrmat527]

McCain''s ins. plan sounds like the same deal credit cards offered where interest on the card was deductible from income tax.A great incentive! When the public became dependent on plastic, banks set the hook.Deductions were phased out, and interest rates climbed to the stratosphere and beyond. Thanks to business pocketed politicians. Time for term limits that way we may be able to cut our losses.

[mrmat527]

McCain''s ins. plan sounds like the same deal credit cards offered where interest on the card was deductible from income tax.A great incentive! When the public became dependent on plastic, banks set the hook.Deductions were phased out, and interest rates climbed to the stratosphere and beyond. Thanks to business pocketed politicians. Time for term limits that way we may be able to cut our losses.

[rednyc]

From FactCheck.org on "McCain: My health care plan will make it easier for more Americans to find and keep good health care insurance. Fair enough. But McCain''s plan wouldn''t do nearly as well as Obama''s." -Quoted from FactCheck.org from analysis of McCain''s acceptance speech.

[jr2110]

According to the writer of this article the $5000 is a tax "credit" not a deduction. A credit is much more valuable than a deduction in that a person who pays tax at a rate of 20% would benefit as long as their insurance expenses were less than $25,000. I think this would benefit many more people rather than just "deducting" the cost of your premiums. It is significantly more beneficial to the lower and middle classes.

[ok4obama]

I am a mother who pays for her own healthcare insurance. I am married with two children who pays 402.00 per month. Now under McCain''s plan my premiums are covered. For that amount, I get a $5000 deductible BEFORE my insurance covers 80% of the bills. I have no prescription discounts, that amounts works toward my
deduction of $5000 per year. My children have one wellness checkup each year and my co-pay is $15.00 per visit. Within the last two years I have paid a total of $7500, still beneath my insurance deductible. I say all of this because insurance costs have gone up and it''s not the premiums. Employer insurance is a benefit to its workers because you are able to use the amount of employee''s to lower monthly payments for everyone and the benefit to employer''s are the tax breaks. I don''t have to explain the results of McCain''s plan for employers and you. I don''t believe the insurance I''m paying for is worth the money and think that $5000 just doesn''t cover it. Why don''t I have cheaper insurance? Pre-existing conditions.

[danthrax1]

Boy, you CBS guys can''t get a break. You fact-check using nonpartisan groups and still get bashed. Well, good job despite the noise.

Let me clarify. You never endorsed McCain''s plan for healthcare. You simply showed that it does not amount to a tax increase. Obama may call it a bad plan, but it is inaccurate for him to call it a tax increase.

Most of the readers who left comments seem to think that the tax rebate McCain proposes represents 100% of what a family would have to spend on medical premiums. Understand this, readers: that''s the TAX part. If your premiums paid by your employer are $10,000 per year, and McCain taxes it at 35%, that''s a tax of $3,500, which he proposes offsetting with a $5,000 tax credit. So if you pay $3,500 and get back $5,000, you understand that''s not a tax increase, right?

But McCain''s plan is that the whole amount--including the $10,000--would be made available for you to shop for any insurance you want.

You may not like that plan, but at least find out what you''re ranting against before you rant.

[benighse]

MCCAIN ALSO SAYS THE ECONOMY IS HEALTHY AND STRONG RIGHT NOW---MAYBE HIS $100 MILLION MAKES IT FEEL THAT WAY FOR HIM AND HIS WIFE---BUT ASK FREDDIE MAC AND FANNIE MAE AND BEAR STEEARNS AND LEHMAN BROTHERS AND THE MORTGAGE INDUSTRY AND THE BAKING INDUSTRY AND THE HOUSING INDUSTRY----BUT BETTER YET ASK ALL THE FAMILIES WHO NOW ARE LIVING WITH THIS REPUBLICAN COLLAPSE----AND YOU WANT FOUR MORE YEARS OF THIS NONSENSE----REMEMBER 8 YEARS AGO WHEN THE ECONOMY WAS REALLY STRONG WITH A DEMOCRAT IN THE WHITEHOUSE?? REMEMBER WHEN WE HAD SURPLUSSES WITH A DEMOCRAT IN THE WHITEHOUSE?? OBAMA/BIDEN ''08---IT''S THE VOTE WORTH MAKING FOR THE BEST PROSPECTS FOR AMERICA. LET''S GET TO WORK AND PUT OBAMA/BIDEN TO WORK.

[ok4obama]

I am a mother who pays for her own healthcare insurance. I am married with two children who pays 402.00 per month. Now under McCain''s plan my premiums are covered. For that amount, I get a $5000 deductible BEFORE my insurance covers 80% of the bills. I have no prescription discounts, that amounts works toward my
deduction of $5000 per year. My children have one wellness checkup each year and my co-pay is $15.00 per visit. Within the last two years I have paid a total of $7500, still beneath my insurance deductible. I say all of this because insurance costs have gone up and it''s not the premiums. Employer insurance is a benefit to its workers because you are able to use the amount of employee''s to lower monthly payments for everyone and the benefit to employer''s are the tax breaks. I don''t have to explain the results of McCain''s plan for employers and you. I don''t believe the insurance I''m paying for is worth the money and think that $5000 just doesn''t cover it. Why don''t I have cheaper insurance? Pre-existing conditions.

[gkalman1]

Common, all you people. Think before you bash. It is a tax cut. This is a tax credit, not a replacement subsidy for you to buy personal insurance with or a subsidy to cover a deductable. I.e., if Joe pays $10,000 a year for health insurance through his employer, it comes from his pretax earnings. McCain is proposing to make these $10,000 taxable and would provide a credit of $2,500/$5,000 which is more than enough to compensate for the difference in taxes. The reporter is right and Obama is WRONG and is purposefully deceiving. So, please stop the undeserved bashing. (By the way, I never voted for a Republican. But, if Obama keeps up with populist half truths like this I will switch sides. I am starting to believe he may be the type of a guy who will pee in your eyes and tell you it is raining.)

[ok4obama]

I am a mother who pays for her own healthcare insurance. I am married with two children who pays 402.00 per month. Now under McCain''s plan my premiums are covered. For that amount, I get a $5000 deductible BEFORE my insurance covers 80% of the bills. I have no prescription discounts, that amounts works toward my
deduction of $5000 per year. My children have one wellness checkup each year and my co-pay is $15.00 per visit. Within the last two years I have paid a total of $7500, still beneath my insurance deductible. I say all of this because insurance costs have gone up and it''s not the premiums. Employer insurance is a benefit to its workers because you are able to use the amount of employee''s to lower monthly payments for everyone and the benefit to employer''s are the tax breaks. I don''t have to explain the results of McCain''s plan for employers and you. I don''t believe the insurance I''m paying for is worth the money and think that $5000 just doesn''t cover it. Why don''t I have cheaper insurance? Pre-existing conditions.

[ok4obama]

I am a mother who pays for her own healthcare insurance. I am married with two children who pays 402.00 per month. Now under McCain''s plan my premiums are covered. For that amount, I get a $5000 deductible BEFORE my insurance covers 80% of the bills. I have no prescription discounts, that amounts works toward my
deduction of $5000 per year. My children have one wellness checkup each year and my co-pay is $15.00 per visit. Within the last two years I have paid a total of $7500, still beneath my insurance deductible. I say all of this because insurance costs have gone up and it''s not the premiums. Employer insurance is a benefit to its workers because you are able to use the amount of employee''s to lower monthly payments for everyone and the benefit to employer''s are the tax breaks. I don''t have to explain the results of McCain''s plan for employers and you. I don''t believe the insurance I''m paying for is worth the money and think that $5000 just doesn''t cover it. Why don''t I have cheaper insurance? Pre-existing conditions.