Obama Looking to Tax Your Current Health Care Benefits

It is unfair that people who work for companies that offer health care benefits get those benefits without any taxes being owed on that money. In other words, the out of pocket expense incurred by the employee (to match employer payments) comes out of the paycheck before taxes. That means there is less income for the government to tax.

That may not last. President Obama is working hard to push through health care legislation that will offer broader coverage to Americans. One of the ways that is being considered to pay for these new health plans is to tax those people who have employer provided benefits.

It may not seem fair that some people get a tax deduction that others do not get, but there are plenty of those to go around. If the government is going to tax health benefits of those that currently have coverage in order to provide coverage to those that do not have (or do not want) coverage then what is next?

The plan that Obama is putting forth seems nice in words but it is important that Americans read the fine print. A trillion dollars is not peanuts and once the payments start coming they will have to continue and will also increase.