What on earth is he thinking? I wrote to my rep, Matt Dean (MN), and he (a Republican at that) agrees that this tax deduction proposal is ridiculous!
Here's the math that makes it so.
Say a person (ummm, like me?) cannot afford healthcare coverage for her family. Because I am a single mother with three children making approximately $35,000 per year. I understand that is a decent amount of money compared to many seriously poverty-stricken people, and I feel blessed to have this job, so don't get me wrong, I'm not complaining about that. But...at this rate of earnings, I qualify for no help with medical coverage for my children. I make too much for Medical Assistance (Medicaid), and I also don't qualify for "Minnesota Care", our state's subsudized health insurance for low-income earners, because my organization offers health insurance, and they pay at least 50% of the premium...regardless if I can afford my part of the premium.
My regular bills (rent, car payment, insurance, gas/electric, water, sewer, trash, and gas), not including food or phone, take up 90% of my income. That is NOT an exaggeration. I use the food shelf once per month in order to feed my 3 kids (one of which is a 16-year-old boy...you know he is expensive to feed!). This means that I have approximatley $220 per month to pay for food, shampoo, toothpaste, clothing (all Goodwill, etc.), and all necessities. The cost of health insurance for my family would be $450 per month.
So Bush would so kindly offer me a tax deduction on my annual tax return so I could afford this health care. Please explain to me how this would help me! Especially considering the fact that even if I made enough to pay the premium for health care (and the extra money for co-payments, etc.), my income on my tax return is brought down to zero by simply my standard deductions (head of household and three children...no taxable income...yippee for me). So...a tax deduction would mean <b>absolutely nothing</b> to me!
On the other hand, I know a single guy with no children who thinks it's a great idea. Why? Because he would be able to take a $750 (I think) tax deduction on his taxes even if he only takes the most basic health care coverage at his work, which only costs him about $20 per month.
Please, any political people out there, tell me that there are not any actual sane and intelligent people in congress who consider passing this. Please tell me it's not possibly going to happen.