Friday, October 3, 2008

McCain's Disastrous Healthcare Plan

From the Pennsylvania Progressive

Have you looked at John McCain's proposals for healthcare? They are so scary you might get cardiac arrest. If so do it before the inauguration. After that may be too late for your health.

The centerpiece of McCain's healthcare plan is taxation. He revokes the deduction businesses and corporations currently get for providing you coverage and adds a tax on those benefits for you, if you receive employer based health care coverage. This means companies will no longer pay for your coverage from pre-tax earnings. Estimates are that millions of Americans may lose this coverage if businesses opt to no longer provide such benefits.

On top of this you will now pay income tax on the value of your benefit should your company choose to keep offering it to you. An average family plan costs $12,600. This means McCain will add $12,600/year to your taxable income. This translates to about $1,200/year in taxes. On the other hand he'll give families a $5000 tax credit and $2500 for individuals.

Read the entire article and see videos from the Keystone Progress/Center for American Progress news conference at the Pennsylvania Progressive.

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