It came as a shock to many when President Obama’s cabinet released plans for taxing Health Care. In the past few years, democrats have taken a strong stand against equalizing tax treatment of health care.
What’s really interesting is that President Obama actually scrutenized McCain during campaign for proposing the same plan.
As the Wall Street Journal pointed out, President Obama said that McCain was proposing “a multitrillion-dollar tax hike — the largest middle-class tax hike in history.”
The believed reason for this talk about raising tax’s on various areas of health insurance is due to the $1.3 trillion Obama’s cabinet needs. With this money they will put their new health insurance entitlement into play.
A larger area of concern is that people with High-deductible insurance will no longer be able to make contributions to health savings accounts that are tax deductible.
Also, College students in work-study programs subject to the payroll tax.
Nothing is set in writing just yet but make sure you stay up to date. You don’t want to find out this went through when you get taxed!