I heard a lot about the passing of Obama's healthcare bill lately. I'm not into reading political news or anything that has to do with the government of America. I always feel like, "well, I don't care, what does that have to do with me... I'm not an American... Besides, reading romance novels from Nora Roberts is a lot more fun!"
But I'm going to be married to an American... So I guess I better spare a minute here or there to read how this boring health bill is going to affect my hubby to be, and our future American children....
After reading about what Obama posted on his website and what others were saying about it, I'm concerned. I can't believe the American people can acutally let Obama push this bill down their throats. $1 trillion dollars to cover 30 million uninsured doesn't sound like a great plan to me. The taxpayers will be spending $33.3 million on each and every one of this uninsured person in America (yes, person, they don't even have to be a citizen...) over the next 10 years just to have them all insured...
Just how many of this 30 million uninsured people are going to get so sick in the next 10 years that each and every one of them are going to rack up $33.3 million medical expenses they can't pay??? It will cost the taxpayers a lot less money to just pick up their medical bill and pay for it as it incurs....
For those people like me who have good insurance already, our premium is still going to increase. Obama's healthcare bill is not going to bring the premium down for the rest of us. Medical treatments are expensive, cause the medical techonolgy will just get more sophisticated and therefore cost more. This will be one of the reasons why our premium will keep rising still. Increase in labor costs in both medical personnel and insurance adminstrative staff, increase in risks of lawsuits, increase in interest rate on business loans that insurance companies need to do business, that doctors need to obtain equipment, that drug companies need to make new drugs... All these and more are giving our health insurace premium a sure increase. The cost of borrowing (your mortgage payment, your business expenses, thus everthing we pay for from hamburger to drinking water, and naturally our insurance premium) will increase as interest rate rises due to the government's huge debt, even without the rest of the cost hike factors...
Just read
this news article and you will see how Obama's healthcare bill is so unheathy for America's financial future.
I don't have the previlige to vote , but I hope those of you who can vote, to excercise your voting rights intelligently. You should get involved and not let your politicians do whatever they please. Otherwise, what's the difference between living in America and living in China??? I hope all of you out there have the sense to say no to an expensive health bill that really makes no economic sense. I hope all of you out there can see clearly that this bill is not good for America, not good for your children...
For those of you who don't have insurance and who are sick, I sympathize, but there is a cheaper way to help you than this bill. (like giving you tax credit for medical expenses on your tax return without the "7.5% above adjusted gross income floor or any floor limit".) Like I say, it's just cheaper for us to pick up your medical bills than paying for this expensive national insurance program, run by the inefficient Obama Co. Insurance.
When I filed for my tax return the first year I arrived at the U.S. , my first question was, "why can't America give medical expense credit to the taxpayers?" How nice it will be if only your tax liability for the year is $5000, and you spend $4000 medical expense and the government gives you $4000 of tax credit, meaning, instead of $5000 tax due on your bill, you get $1000 tax bill...
But under the current tax law (what idiot spent all this paper and ink to make this worthless law), you can only deduct your medical expenses that is more than 7.5% of your adjusted gross income. If your adjusted gross income is $40K and you spent $5k on medical expense, only $2000 of the medical expense is deducted from your adjusted gross income to arrive at taxable income. $5000 - $3000 (7.5 % of 40,000) = $2000. Assuming your effective tax rate is 20%, your real actual tax benefits from this $5000 medical expense is only $400 ($2000 x 20%), meaning it only helps you lower your tax bill by $400. But this is only the case if only you use itemized deduction (deduction allowed by the tax laws) instead of standard deduction (a default amount set and provided by the government to everybody). Most people don't have enough itemized deduction and have to use standard deduction. Now, you can just toss away all those doctors and medicine receipts that make up the $5000 medical expenses you spent. You don't get to lower your bill by even $400. Nada, nothing. Most people don't get to really deduct the medical expenses like they think they can. All my medical expenses were worthless to my tax returns filing all these years I've been in America. America is a very confusing country, there are all kinds of laws that are just created to take spaces in paper and to confuse people without doing much good. They only attempt to make people think they are good for them... This is just one of the many, many many laws I found in this country that is mostly worthless to average people like me....costing people more accoutants' fees to go through shoe boxes of medical receipts... In the process of sorting through all the medical bills and receipts that are in most case, nothing, but craps to you, your accountants got to bill you more of their time....
I always think a medical expense tax credit that completely phrases out when adjusted gross income is over $200K, with unused credit being allowed to be carried forward indefinitely, is a more beneficial healthcare reform than this $1 trillion dollar bill.... I rather have tax credit than this Obama healthcare bill, cause I'm already insured by my employers' group insurance. I want to be able to deduct my co-pays and the prescriptions I pay for....
Anyway, now there is going to be just another law to take space of thousands of pages, scrambled with more words and inefficient legal sentences, and then creating more gray areas and the need to pass more law and print more pages to clarify.... It's the Obama Healthcare Reform Bill which Americans just got to pay for it, whether you want it or not. May be instead of spending time blogging about books, we should spend time lobbying to save our tax dollars....
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