Re: 2020 Democratic Challengers IV: Culling the Herd
I got tripped up by the same thing, I believe. If I am understanding Biden’s plan correctly...
What Biden is wanting is that premiums are capped at 8.5% of your gross. This doesn’t include the tax deductible portion of medical care costs. Unless I misunderstand how the ACA premiums work with taxes, a likelihood. If you can deduct premiums, then that’s a little different. But if you can’t, you’re looking at 8.5% just to premiums and up to 7.5% that isn’t deductible. So right there you’re looking at 16%.
I know the cost problem isn’t going to be fixed by making everything deductible. But it will help. Especially those in the bottom 2/3 of income.
Originally posted by The Sicatoka
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What Biden is wanting is that premiums are capped at 8.5% of your gross. This doesn’t include the tax deductible portion of medical care costs. Unless I misunderstand how the ACA premiums work with taxes, a likelihood. If you can deduct premiums, then that’s a little different. But if you can’t, you’re looking at 8.5% just to premiums and up to 7.5% that isn’t deductible. So right there you’re looking at 16%.
I know the cost problem isn’t going to be fixed by making everything deductible. But it will help. Especially those in the bottom 2/3 of income.
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