Obama is attempting to gut jmfcst

[bullmoose88]

Friend,

I agree with your general premise that doing some of these things, right now, would be deleterious for the overall economy.  But I've read your points and some of them...seem..."funny."

For starters...

3)   ending deduction for health-insurance premiums
4)   ending deduction for mortgage interest (this is not really an issue for me, but is for many other jmfcst's)

never mind the fact that the jmfcst’s are the bedrock of this economy:
1)   those who have never taken government assistance

a)  If we're going to tax income...shouldn't we tax all the compensation an employer gives its employee for the latter's work?  Health Insurance IS compensation/income, and I doubt you'll disagree with calling it that.  

b) It being income ties in with this point...giving a deduction for mortgage interest IS a subsidy.  It makes homes more attainable for the middle class and wealthier joe in ths country and boosts the construction business.  

c)  While not as overt or explicit as cash assistance, food stamps, welfare etc...it is government assistance to all those people smug that they aren't living on what the great "o" calls our inadequate government dole.

That's not to say...that ending that assistance, at this time...is a good idea.

You must be logged in to read this quote.

Everyone working, ultimately pays both side of the employment/SS/medi tax.  You just pay both halves directly.  The other workers are deprived of compensation that employer is more than willing to pay Washington as part of the tax calculated on the employee's salary/wage.  If the employer is willing to pay a base salary that generates "its" share of the tax, it should follow that it'd be willing to pay the employee that amount absent the tax.  After all its still paying x(wage)+t(tax)...why should they care if it all goes to the employee absent the tax.

And that's all I have to say about that.

[bullmoose88]

Err...1) Point taken. As your own employer you should be able to (continue?) deduct your business expense: health insurance. That's what i get for reading too quickly.

2) I'm not advocating an immediate removal. Especially now. Something gradual with some sort of grandfathering coupled with measures to prevent those from gaming the system by taking the largest mortgages they can before the cutoff to take advantage.

3) Im aware of the whole business wouldn't pass cost onto employee thing. Unusual for a blue avatar to make it. And you're probably right. But that doesn't negate the fact that the general employee pays both halves of the tax whether he knows it or not. Perhaps without the tax the employee could make the very argument I made. And maybe business will take it. Or not. But that doesn't change the fact that the employee pays the tax. No matter how disguised.