Watch the new Obama anti McCain health plan ad: it is a lie, it says simply people will pay taxes on the $5000 a McCain tax credit is proposing. Does his campaign take us for complete idiots?
Firstly, the proposal is a CREDIT, that means, the money spent is NON TAXABLE. Instead of spending $5000 on something from your income and paying tax on it, like anything else you spend your income on, this amount for health insurance policy premiums, would be excluded from being taxed. Right now if you can afford to buy your own insurance policy, the money spent is taxed in addition to all your other income that is taxed. if your not self employed. ( Self employed means you pay all of the roughly 15% FISA and Medicare Tax.)
As a former business owner providing medical services, who paid individual taxes as a sole proprietor (not a partnership or corporation), who paid federal and state and local taxes of all descrition, I know that he is lying through his teeth.
Individuals can only get tax relief- use medical expenses as a deduction from income, if they have a certain amount in expenses or through a tax deductible medical insurance account (not insurance premiums but a hedge against co-pays and non covered services) or if they are SELF EMPLOYED and buy their own individual insurance policy.
Quoting from a child’s saying: liar, liar, pants on fire!!!!!!! (Boy are they.)
“Transforming The Tax Code To Create Greater Equity: The McCain plan transforms the current tax code to provide all American families – including the self-employed and the uninsured – the same tax benefit, a $5,000 refundable tax credit ($2,500 for individuals) that was previously only available to those with employer coverage. Families can use this credit to purchase insurance of their choice, including keeping their current coverage. 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.” “http://www.johnmccain.com/content/default.aspx?guid=9b94f39b-1650-4a3a-89ef-fba8cba4c868
This candidate is NOT to be TRUSTED: “I am Barack Obama and I approved this ad.”
How is he to be trusted with the presidency and overseeing the economy?