Taxable Health Insurance Benefits
April 30th, 2008
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Question: Why are people's Cadillac health insurance plans not classified as income? Why is it not taxable as Income?
There is a health care proposal our there to tax Cadillac health care plans by companies to cover the cost of the current health care bill. I was wondering why it's not classified as income and why it's not taxable.
Not that I want it to be taxable, good grief, I am all for reducing taxes. But some law makers are saying it's a form of income and should be taxable, so I am wondering how could it be classified as income and not a benefit for ones welfare?
Answer: Govt. employees and unions are the main beneficiaries of this untaxed benefit. That'd be like taxing their supporters extra. Any other benefit that employees recieve is taxable, why not this one?
I'd bet the final bill doesn't tax democrat supporters extra. They'll tax EVERYONE by taxing business's and insurance companies, but keep giving tax free benefits to supporters. Wanna bet?
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