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View Diary: AP Fact Check Is Wrong...In McCain's Favor (270 comments)

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  •  Wait, it gets better... (1+ / 0-)
    Recommended by:
    relentless

    Check out this remarkable helping of bullshit, currently headlined "Biden misleads with accusation of tax increase" at Yahoo.

    Read it even a little bit carefully and it's clear that it's not even a "shape of the earth, views differ" artiecle.  It's deliberately, in-your-face, black-is-white misleading.

    I'm pretty cynical, and I'm  still impressed they've got the balls to send out something like that.  I guess somebody's gotta take John Solomon's place.

    •  A lot of BS (0+ / 0-)

      is that a family earning $40,000 would have to pay $12,000 in insurance.  that is 30% of their gross.  Add the $12,000 to their salary and it would still be almost a forth of their gross or 24 percent.  Would that put their income in a higher bracket before the credit is subtracted?

      Subtract the $5000 and it would be $7,000, less than 8%, but then who is going to pay the taxes to give the insurance companies all that money?  That tax could be better spent elsewhere. Universal care comes to mind.

      The idea is preposterous. Health care used to be 6% of the gdp, now it is 16% or more.  

      Anyone interested, my figures were done in my head in a hurry and they may not be right.  Close enough for government work, though:-)

      A family would be better off taking their chances and going bankrupt if they needed medical care. Thus the republican bill requiring them to have it because they won't buy it otherwise. They can't afford it at $7000.

      Why aren't the health costs regulated for fraud?

      •  goes to show how confusing that article is (0+ / 0-)

        The $12k in that scenario is the amount of the benefits paid out by the insurance company!

        What McCain is proposing is that you have to buy insurance by law, but if you actually use any of that insurance (i.e. if you get sick and have to collect benefits) you get taxed on the value of the benefits that the insurance company pays out.  

        A sensible person might think that's too crazy to be true, but no, I'm pretty sure that's how it goes.  And the $2,500 "tax credit" is an accounting fiction to make it sound less crazy.  

        All it really means (I think) is that if you make $40k and get $12k in benefits from insurance your taxes go up less than they would have if you actually made $52k in income.  And the maximum difference between the taxes you pay on insurance benefits (and possibly the amount you pay in premiums), and the taxes you would pay if you got the same amount in regular adjusted gross income apparently goes up to $2500 dollars per person. If you hit the sweet spot exactly right.

        Corrections welcome of course...

        •  If he is using Bush's proposal (0+ / 0-)

          it was to give a tax credit to help pay for required health insurance.  I read quite a lot about it when Bush proposed it.

          I assumed it was the same plan.

          The impression I am getting is that other businesses aren't important, all money goes to health insurance and their copays and deductible.

          You are to save every penny, then when you retire at 70 give it all to health care which they predict will soon cost $300,000 out of pocket, after retirement even with Medicare and the prescription d plan and the supplemental.

          What a pitiful way to live. No inheritance for our children. No fun. No nothing.

        •  They also talked of taxing insurance (0+ / 0-)

          that is paid by your employer.  If he pays $12,000 then you pay taxes on $12,000 causing many to go to a higher bracket.

          I suppose we should both read McCain's page and see what he says.  They make some things deliberately confusing to trick us.

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