I?m first discussing individuals? income taxes and then relating it to mandating health insurance purchases.
The income tax considerations per person were originally enacted to provide some tax relief for lower income earners; we can?t get blood from stones.
Unfortunately the consideration is a per capita amount of deduction from taxable income rather than a credit applied to the income tax itself.
Due to income tax?s progressive rates, the current per capita considerations grant exceedingly greater the amounts of benefits to wealthier taxpayers. Middle income earners derive much lesser benefits and the lowest income taxpayers derive little or no benefits from the per-capita tax consideration.
I?m a populist that advocates the deduction should be a tax credit rather than a deduction from taxable income. The amount of per-capita tax credit should be revenue neutral to our current regulations and that amount should be annually cost of living adjusted.
This revenue neutral tax modification grants greater tax relief to lower income tax payers without increasing our tax rates.
Whatever the courts will decide with regard to requiring individuals to purchase government qualified health insurance, I, (a populist) join others across the entire political spectrum who are uncomfortable with this mandate.
Rather than the stick, I prefer the federal government employ the carrot.
The income tax considerations granted per taxpayer and each of their dependents during the tax year should require that those persons be covered by qualifying health insurance during each month of the tax year. [The health insurance requirements for persons should of course be waived for months prior to each person?s birth or after their death].
Respectfully, Supposn
The income tax considerations per person were originally enacted to provide some tax relief for lower income earners; we can?t get blood from stones.
Unfortunately the consideration is a per capita amount of deduction from taxable income rather than a credit applied to the income tax itself.
Due to income tax?s progressive rates, the current per capita considerations grant exceedingly greater the amounts of benefits to wealthier taxpayers. Middle income earners derive much lesser benefits and the lowest income taxpayers derive little or no benefits from the per-capita tax consideration.
I?m a populist that advocates the deduction should be a tax credit rather than a deduction from taxable income. The amount of per-capita tax credit should be revenue neutral to our current regulations and that amount should be annually cost of living adjusted.
This revenue neutral tax modification grants greater tax relief to lower income tax payers without increasing our tax rates.
Whatever the courts will decide with regard to requiring individuals to purchase government qualified health insurance, I, (a populist) join others across the entire political spectrum who are uncomfortable with this mandate.
Rather than the stick, I prefer the federal government employ the carrot.
The income tax considerations granted per taxpayer and each of their dependents during the tax year should require that those persons be covered by qualifying health insurance during each month of the tax year. [The health insurance requirements for persons should of course be waived for months prior to each person?s birth or after their death].
Respectfully, Supposn
