Thursday, August 13, 2009
Health insurance premiums should be deductible for all
By Dan Danford
Politicians SAY they love small business. But often, they DO something different. Through what looks like to me a fluke in the law, self-employed people pay taxes on the money they spend on health insurance premiums. Anyone employed by any other type of business does not. Why should self-employed folks (I'm not self-employed) be the only people to pay tax on insurance premiums? It's been this way for years, and it make no sense at all. In a lot of ways, smaller businesses already carry a massive burden in our bad health care system. It's time to fix the system, and this is one necessary fix. Our economic system should encourage small businesses in every way possible. Our flawed health care system is a major impediment to rebuilding a small business culture in America.