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Thursday, November 18, 2004

Bye Bye Health Insurance, Not to Mention Social Security

The administration plans to push major amendments that would shield interest, dividends and capitals gains from taxation, expand tax breaks for business investment and take other steps intended to simplify the system and encourage economic growth, according to several people who are advising the White House or are familiar with the deliberations. The changes are meant to be revenue-neutral.

To pay for them, the administration is considering eliminating the deduction of state and local taxes on federal income tax returns and scrapping the business tax deduction for employer-provided health insurance, the advisers said. bye bye health insurance for a hell of a lot of people.

--Digby, Nov 18

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