For what it’s worth, I don’t like the state and local tax deduction and the charitable deduction, and I also don’t like preferences for housing. But I want to eliminate such distortions only if the revenue is used to finance lower tax rates, not to finance bigger government. That be...
There is more reason to credit the employee benefit tax exclusion and deduction for the increase in health insurance coverage in the United States. The most rapid growth in health insurance coverage, however, took place in the late 1940s and early 1950s before the tax subsidies were enshrined ...
rule, supplemental benefits offered by an EGWP sponsor are considered non-Medicare benefits and treated instead as other health insurance that pays in a secondary position to Medicare. That means, in part, that manufacturer discounts in the coverage gap for EGWP plans are calculated ...
Most of Social Security’s income comes from a dedicated 12.4% payroll tax that’s evenly split by employees and employers, with the workers’ part deducted from each paycheck. If you’re self-employed, you pay the full amount, less a deduction for paying self-employment tax. Revenue also ...