The New York Times just published an article claiming that middle-class families are better off financially. They blithely overlooked the greatest tax increase in recent memory and the greatest increase in medical cost Americans have ever seen. We have been robbed blind.
Many employers dropped or reduced their health insurance benefits and left their employees to shop Obamacare market places. Not only are the premiums higher and the benefits lower, but now they must pay with after-tax dollars. Insurance premiums paid by employers is exempt from payroll and income taxes. Any of the premiums employee pays must come from earnings that have been taxed at about 8% for Social Security, Medicare taxes; the employer pays the same amount in matching payroll taxes.
But that’s not all; the employee also pays income taxes on the earnings – at least 15%. So 8% + 15% is 23% fewer dollars in the employees’ pockets just to get the money to pay for healthcare insurance. Since Obamacare started, health insurance for middle-class families has roughly doubled. They get no government subsidies; they have fewer choices of doctors and hospitals; the deductibles and copays empty the bank accounts. People who have worked hard, have been nicked by the recession. They may be working for a fraction of their former incomes. Families are now strapped for cash, and struggle to find medical providers that will accept their healthcare insurance.
Ask yourself, is the New York Times right? Have we increased our incomes enough to rise above the tax grab and the insurance double-cross? Our economic anemia verges on leukemia; Obamacare is the pathogen, not the cure.