The Hill: Congress must act on tax reform 2.0
The Hill:
By Congressman
The tax reform we enacted last year is producing results. Instead of having the highest corporate tax rate in the developed world,
Yet our work isn't done. We need another round of reforms - focused on middle-income families. Here are elements that should be part of that package and that should appeal to members of both political parties.
Bring
When
These nonsensical taxes are unfair. A study for the
When
Widows with children, trying to get by on
Bring Medicare into the 21st Century. Seniors are held hostage by antiquated laws that prevent them from using modern day services and technologies. Instead of trips to the doctor's office, seniors should be able to talk to doctors by phone or email - the way many non-seniors do. Instead of trips to the emergency room at nights and on weekends, they should have access to Uber-type house calls. At
One way to modernize the system is to let Medicare make a deposit to a tax-free Health Savings Account for beneficiaries who are willing to manage their own primary care dollars. Seniors could then take advantage of the best services the market has to offer.
Bring laws affecting working families into the 21st Century. If employees have health insurance through a spouse's employer, why can't they forego the insurance in return for higher pay" Believe it or not, this is another income tax problem. An employer who lets even one employee choose between taxable wages and a non-taxed benefit risks having the
Why does a stay-at-home parent who takes a minimum wage job get immediately put into their spouse's much higher tax bracket" These and many other provisions of our tax system were created years ago when
It's time to bring the tax law into the modern age.
Make the promises of tax reform permanent. According to
Make health insurance affordable for everyone. Under ObamaCare we have skyrocketing premiums, a race to the bottom on access to doctors and hospitals and soaring deductibles that few families can afford. We need to implement a free market based system where there is no mandate to buy, no discrimination against pre-existing conditions, reasonable out of pocket limits and a functional exchange.
We need to reform our health care system, using principles that work so well for privately insured seniors.
For the long term, we should be bolder. Let's replace our overly complex, highly regressive system of health care tax subsides, with a simple, refundable tax credit -- generous enough to give every American access to affordable health insurance.
These are just a few of the changes we need to make our tax system work better for seniors, for women, for working families and for everyone who is a potential patient in the health care system.
Detroit Man Sentenced for Aggravated Identity Theft and Defrauding the Michigan Unemployment Insurance Agency
Disaster Recovery as a Service Market Growing at a CAGR of 41.6% Till 2025
Advisor News
Annuity News
Health/Employee Benefits News
Life Insurance News