It's also naive and ludicrous to think that competing over state lines will bring costs down.
I tell you this though: If it was Obama's idea from the start, the repubs would be screaming that it would be unfair to insurance companies and trial lawyers.
Open up interstate insurance purchasing and lets see what happens, what is the worst that could happen, prices stay the same because they wont go up. But by all means dont do anything that the republicans present.
I believe tort reform would reduce the cost I dont know if it would allow for coverage of that many more people. But once again just shoot down reasonable solutions as naive and then claim the republicans have no ideas.
As far as the taxes are concerned I would say it would increase tax revenues because everyone has got to pay the taxes, everyone.
Some of the loopholes brought up earlier are easy to fix, tax fringe benefits such as cars (which they already are but most companies eat the cost. Tax deferred comp and stock options at the same tax rate as they would be taxed otherwise. The point is to leave no exemptions .
What did you mean by frivolous taxes in the first post?
Seems this guys plan is to not tax money made from stocks (capital gains), I point out that rich guys will start getting compensated in stocks, and you say that we'll just tax those stocks. Seems to me like we're back where we started.
He does say eliminate capitol gains and after thinking about it, those people you speak of are going to have to earn a salary. That or they just cash in their stock options as soon as they got them in order to survive. I also dont think they are going to be living in a hut with a tiny salary just getting by. So I really dont think it is all that big of a problem, they will be taxed at 25% of a million a year or 500k a year.
I would say raise the 25% rate to 150,000 a year for joint filers and 75000 a year for single
As I understand stock options, the company would give you the option to buy X shares for $Y each. Y may be way below the current value of the stock. So if I'm a CEO of a company who's shares are selling for $100 I might decide that I'm going to pay myself some salary, say 100K/year and give myself the option to purchase up to 10,000 shares for $1. I shell out $10,000 to buy those shares and sell them the same day for a profit of $990,000 (assuming Sully can do math), I've now made just over $1 million (between salary and stock options) but I'm paying 25K in taxes since $990,000 of my compensation is capital gains (unless I'm wrong about stock options being capital gains).
If there is a way to get around paying taxes, rich people will find it.