Another Opportunity for the Well Off to Pay Less Taxes


These sort of things sound like "no harm, no foul", but the bottom line is that they help almost no one who needs help, and act primarily as a tax shelter for the affluent, not as a way to give people health insurance who don't already have it. In the meantime, since the government is running a deficit, that billion dollars will come out of your pocket - with interest.

Republican lawmakers, with little public debate, quietly added a billion-dollar health-care benefit to legislation that was rushed through Congress just before it adjourned Saturday morning...

....The provision, which materialized without fanfare late last week inside a massive tax-cut measure, expands the amount of money that can be contributed tax-free to health savings accounts (HSAs). The accounts can be used to pay medical bills and for other health-related coverage.

The legislation allows anyone to shelter thousands of dollars annually in HSAs, regardless of how much that person pays for a health-insurance deductible. Current law limits HSA contributions to the amount of a person's deductible. The expansion would cost the government $1 billion in lost tax revenue over the next decade.


Ian Welsh December 11, 2006 - 11:56am

the government has cut deals with transnationals that would make big conglomerates in the US drool like a dog on a hot summer day. Cheney has it good South of the border. Heck, when you can get away from the long arm of the law and shoot your best friend in the face, this is Xanadu for Capitalismo Salvaje ese. Why, they almost seem to be walking lockstep with each other. One can only wonder why.

Julio Sueco December 11, 2006 - 12:47pm

and the Democrats get the legislature through that he talks about, many of America's ills will be cured. Many concentrated investigations instead of getting bogged down in hearings and debates is a step forward. Oops, I should have posted that under your Harry Reid/Bob Geiger thread. Sorry about that.

canuck December 11, 2006 - 1:34pm

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.