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OFFICIAL: Obama Presses Democrats to Back Tax

Discussion in 'Political Discussion' started by NEPatriot, Jan 7, 2010.

  1. NEPatriot

    NEPatriot Banned

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    Obama Presses House Democrats to Back Insurance Tax (Update2) - Bloomberg.com

    He finally admits it so that his sheeps can take it to the bank. What does it take you so long to admit it, Obama?
  2. JackBauer

    JackBauer On the Roster

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    The excise tax has been a party of the Senate bill for a while now.

    It's also one of the cost control mechanisms in the bill.
  3. PatriotsReign

    PatriotsReign Rookie

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    As long as it doesn't increase the taxes on "those earning less than $250K, Obama can keep his PROMISE. If it does, it'll be just another lie he has committed.

    Does this man realize that he can't continue lying time after time. These aren't just words....

    THEY ARE LIES.
  4. JackBauer

    JackBauer On the Roster

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    Maybe you should forward some of your concern trolling to whitehouse.gov, so they can take your umbrage into account.
  5. PatriotsReign

    PatriotsReign Rookie

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    Better idea Jack...why don't you respond intelligently to my "umbrage"? Are you capable?
    Last edited: Jan 7, 2010
  6. JackBauer

    JackBauer On the Roster

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    Well, this whole "just another lie he has committed" thing rubs me the wrong way.

    But I certainly do hope he's able to adhere to that pledge.
  7. ljuneau

    ljuneau Rookie

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    I can't find an article specifying if the "cadillac plan tax" is dependant on income. I doubt it will be in the final bill. From what I read, this tax was in the Senate bill. The House bill had a surtax on those earning more than $500k a year. We'll just have to see what happens in the final bill.
  8. BelichickFan

    BelichickFan B.O. = Fugazi PatsFans.com Supporter

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    #24 Jersey

    The tax increase will be on the insurance companies - but it will be passed down to all of us in premium increases. Taxes won't be increased directly but they certainly will be indirectly.

    Also the floor defining a "Cadillac Policy" is pegged to the national inflation rate, not the insurance premium increase rate so over time more and more policies will be "Cadillacs".
  9. PatriotsReign

    PatriotsReign Rookie

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    Thank you Jack! That's an honest reply!
  10. JackBauer

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    Incorrect.

    It's an excise tax, which in application would incentivize insurance companies to design plans which do not meet the taxation threshold. Thus, over time, we would expect to see fewer Cadillac policies, not more.

    Incidentally, it's one of the more robust cost-control mechanisms in the bill.
  11. BelichickFan

    BelichickFan B.O. = Fugazi PatsFans.com Supporter

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    #24 Jersey

    It is possible it will go in that direction but keep in mind that will mean a constant lowering of coverage to stay under the Cadillac level. Which is fine with me as I favor less coverage not more - we are not underinsured in the country we are overinsured - but I'm not sure how it will or can work as there is so much regulation on what has to be covered.
  12. NEPatriot

    NEPatriot Banned

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    It is ridiculous to think that we don't pay for any high cost when Obama wants companies to pay high taxes.

    Companies are here to make profits. If Obama taxes them, you can bet your ars that you are suffering too. Yes, Obama is passing it down from the TOP. You are at the end to take it.
  13. ljuneau

    ljuneau Rookie

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    I wasnt aware that the tax would be levied on insurance companies until I read your post. As stated in 'Cadillac Tax' in Health Plan Would Hit Middle Class Hard, the cost will obviously be passed down to the consumer.

    It's been in the news today that B.O. is pushing for this tax. Obviously if he signs a bill that includes this tax, he will have broken another promise.
    Last edited: Jan 7, 2010
  14. JackBauer

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    Actually, as usual, most of what you've written is entirely inaccurate. The costs will only be passed to the consumer if the tax doesn't work, but given what we know about how employers and insurance companies operate, I'd say those odds are slim to none. To wit:

    Ezra Klein - Explaining the excise tax
  15. BelichickFan

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    #24 Jersey

    As I said before the two problems are :

    1) The definition of Cadillac is a fixed number that goes up with inflation not "health care inflation". If Cadillac = X * average plan or something it would be different but, as is, each year, more and more plans will fall under Cadillac.

    2) There's a limited amount of items which can be cut because insurance is so regulated. And with the government getting more control that is not going to lessen, it's going to increase.
  16. ljuneau

    ljuneau Rookie

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    It also hits workers at different levels of income. See Health-care reform bill's proposed tax on high-cost plans raises questions.

    As stated in the article, even less-generous plans could fall under the tax simply because of location, type of industry, and the age of the insured. Even Robert Reich agrees:

    People from all income levels will be affected by this tax.
    Last edited: Jan 7, 2010
  17. BelichickFan

    BelichickFan B.O. = Fugazi PatsFans.com Supporter

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    #24 Jersey

  18. Real World

    Real World Moderator Staff Member

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    This bill so sucks. It does nothing to deal with core problems. This bill is designed to fail, so that we will eventually have a single payer system.
  19. JackBauer

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    Well one would assume that the threshold would rise with the rate of inflation. If not, that would be pretty darn stupid on the part of the bill's authors.

    Well, the average premium is ~$13,000 per family, and the excise tax only applies to each dollar about $23,000. So I'd say they have some room to work with.
  20. JackBauer

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    Does nothing to deal with core problems? Could you be more specific?

    I recall we've been over this before. You claimed the bill does nothing to control costs, which it clearly does. So unless you're referring to something else...

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