Cadillac Tax
I cant even put into words how incredibly stupid this statement is:
"The assessment proposed in the Senate is not a new tax; it is the elimination of an existing tax break that is provided to exactly these firms. Under current law, if workers are paid in wages, they are taxed on those wages. But if they receive the same amount of compensation in the form of health insurance, they are not taxed. As a result, the tax code has for years provided a large subsidy to the most expensive health plans -- at a cost to the U.S. taxpayer of more than $250 billion a year. "
Turns out the moron is a professor at MIT, so I emailed him.
http://www.washingtonpost.com/wp-dyn/content/article/2009/12/27/AR2009122701714.html
"The assessment proposed in the Senate is not a new tax; it is the elimination of an existing tax break that is provided to exactly these firms. Under current law, if workers are paid in wages, they are taxed on those wages. But if they receive the same amount of compensation in the form of health insurance, they are not taxed. As a result, the tax code has for years provided a large subsidy to the most expensive health plans -- at a cost to the U.S. taxpayer of more than $250 billion a year. "
Turns out the moron is a professor at MIT, so I emailed him.
http://www.washingtonpost.com/wp-dyn/content/article/2009/12/27/AR2009122701714.html
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