(267) MORE DISCUSSIONS WITH ANONYMOUS
Tidbit: March 18, 1940--Mussolini and Hitler announce that Italy has formed an alliance with Germany against England and France. Mussolini refers to the alliance as the Axis and says that Europe will revolve around that Axis.
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Anonymous also said that the cost of medical care will be passed on to the rest of us. First, who are the rest of us? That is an amazing gap in deduction. And who is going to pay for the latest grand plan of the government? Answer: the rest of us, except the rest of us also get to pay taxes to support the grand plan, as well as our own insurance programs. Moreover, if we get to deduct our medical expenses, it is an entry on the tax return. The government's grand plan has to have another agency to dole out coverage. Already, Congress, not your doctor, has decided that Medicare will not pay more than a certain amount for a particular ailment. Your doctor is out of the equation, and politicians are deciding how much medical care a patient should receive.
Now, our President wants to set up a Waste-Control Commission. What nonsense! The Waste-Control group will be the most expensive part of the medical plan. Just for the heck of it, let's use me as a guinea pig. Suppose I am self-employed for the year. I have to pay both sides of FUTA, FICA, and feudal taxes. So out of every $1,000 I make, $76.50 goes to Big Brother. Then I pay 1%, or $10 into the Medicare fund, next I pay taxes on the full $1,000, no deduction allowed, then, when I retire, if I collect $1,000 per month, I get to pay income tax again on my money. Never mind that I have already paid taxes on the money when it was withheld. Next, Big Brother withholds $96 from my social security check to cover my Medicare expenses, and I get to pay a $39-per-month co-payment on Part D of Medicare.
A review is in order: $1,000 income less 35% tax leaves $650. $76.50 FICA, FUTA, and feudal, leaving a balance of $573.50. Less 1%, or $10, Medicare payment leaves $563.50.
Unfortunately, that's not the end of the story. Every month, I get to pay about $140 in co-payments on prescriptions and doctor bills, leaving me with a balance of $443.50, which leaves me feeling really stupid. I keep asking the question, 'Why do I go to work? What benefit is there?
Now for the best part: if you are lucky enough to work for a company who provides a benefit package, under the current system, your insurance costs are deductible to the company, and the employee gets the benefits tax-free. Not so if you are self-employed, but let's move on. The tax-free benefit is not going to last long because, if Big Brother gets his way, the benefits will be taxed, and, I assume the benefit social security gives those who are retired will also be taxed. Can't wait.
Now back to Anonymous: somehow, Mr. A believes that we can increase coverage and lower costs. That sounds impossible, and it is. Anyone who believes that should study the laws of Nature.
Respectfully submitted,
Your humble servant,
Donald M. Heavin
* * *
Anonymous also said that the cost of medical care will be passed on to the rest of us. First, who are the rest of us? That is an amazing gap in deduction. And who is going to pay for the latest grand plan of the government? Answer: the rest of us, except the rest of us also get to pay taxes to support the grand plan, as well as our own insurance programs. Moreover, if we get to deduct our medical expenses, it is an entry on the tax return. The government's grand plan has to have another agency to dole out coverage. Already, Congress, not your doctor, has decided that Medicare will not pay more than a certain amount for a particular ailment. Your doctor is out of the equation, and politicians are deciding how much medical care a patient should receive.
Now, our President wants to set up a Waste-Control Commission. What nonsense! The Waste-Control group will be the most expensive part of the medical plan. Just for the heck of it, let's use me as a guinea pig. Suppose I am self-employed for the year. I have to pay both sides of FUTA, FICA, and feudal taxes. So out of every $1,000 I make, $76.50 goes to Big Brother. Then I pay 1%, or $10 into the Medicare fund, next I pay taxes on the full $1,000, no deduction allowed, then, when I retire, if I collect $1,000 per month, I get to pay income tax again on my money. Never mind that I have already paid taxes on the money when it was withheld. Next, Big Brother withholds $96 from my social security check to cover my Medicare expenses, and I get to pay a $39-per-month co-payment on Part D of Medicare.
A review is in order: $1,000 income less 35% tax leaves $650. $76.50 FICA, FUTA, and feudal, leaving a balance of $573.50. Less 1%, or $10, Medicare payment leaves $563.50.
Unfortunately, that's not the end of the story. Every month, I get to pay about $140 in co-payments on prescriptions and doctor bills, leaving me with a balance of $443.50, which leaves me feeling really stupid. I keep asking the question, 'Why do I go to work? What benefit is there?
Now for the best part: if you are lucky enough to work for a company who provides a benefit package, under the current system, your insurance costs are deductible to the company, and the employee gets the benefits tax-free. Not so if you are self-employed, but let's move on. The tax-free benefit is not going to last long because, if Big Brother gets his way, the benefits will be taxed, and, I assume the benefit social security gives those who are retired will also be taxed. Can't wait.
Now back to Anonymous: somehow, Mr. A believes that we can increase coverage and lower costs. That sounds impossible, and it is. Anyone who believes that should study the laws of Nature.
Respectfully submitted,
Your humble servant,
Donald M. Heavin
posted by Donald Heavrin at 11:44 AM
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