General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsWhat is your Tax Rate plus Healthcare Cost annual Rate
Last edited Sun Nov 29, 2015, 02:49 PM - Edit history (1)
Real Simple
Take your Tax Rate -
If you use HR Block, Turbo Tax or one of the many other services they'll give you a % of your annual income paid to taxes, State and Federal. For those of us that use CPA of tax professional try and guestimate what portion of your annual income you actually paid to taxes
Then add -
your Monthly Healthcare Cost x 12 months for an annual Healthcare cost. If your employer requires a 50% contribution towards Healthcare cost and you have $100 taken out of your weekly paycheck your Healthcare cost would be 4 x $100 x 2 to equal 100% of the cost of the plan
This is your Tax Rate PLUS Healthcare. It doesn't take into consideration additional cost of Co-Pays or denied coverage cost which is some thing you would not have under Single Payer. Nor does it take into account sales tax, gasoline tax, or property taxes, although these can be deductions on your Federal Taxes.
I've long felt for what we pay in total cost we are being ripped off.
example: Last year I was Taxed at a combined rate of 24%. Additionally I paid 6.2% of my annual income in Healthcare cost. - the combined rate equals 30.2% of my annual income
enjoy ..
1 vote, 0 passes | Time left: Unlimited | |
16% State and Federal Taxes and Healthcare Cost | |
0 (0%) |
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19% State and Federal Taxes and Healthcare Cost | |
1 (100%) |
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21% State and Federal Taxes and Healthcare Cost | |
0 (0%) |
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24% State and Federal Taxes and Healthcare Cost | |
0 (0%) |
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27% State and Federal Taxes and Healthcare Cost | |
0 (0%) |
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30% State and Federal Taxes and Healthcare Cost | |
0 (0%) |
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32% State and Federal Taxes and Healthcare Cost | |
0 (0%) |
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35% State and Federal Taxes and Healthcare Cost | |
0 (0%) |
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Greater then 35% State and Federal Taxes and Healthcare Cost | |
0 (0%) |
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0 DU members did not wish to select any of the options provided. | |
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tazkcmo
(7,300 posts)Single payer would be ok if Sec Clinto was for it but she's not so it sucks. Case closed.
sarcasm
FreakinDJ
(17,644 posts)I think the truth exposed reveals the best answers
tazkcmo
(7,300 posts)It's settled. Single payer is the most affordable and efficient way to do healthcare. But in America it's not about common sense, it's about cults.
Hoyt
(54,770 posts)(which may not include employer share if working); why doesn't it include copays or denied coverage (which you will have under single payer)?
I agree we are being ripped off, and would like to see the results. But, I don't think this will tell us much. Heck, the most expensive people in terms of health care are probably too sick, in a nursing home or other facility -- or comatose -- to respond.
Again, I get what you are saying about our system -- it sucks.
FreakinDJ
(17,644 posts)Downwinder
(12,869 posts)0% Income tax rate
8% Sales/use tax
30% Health care.
FreakinDJ
(17,644 posts)I didn't try to add Sales Tax in the survey
on edit:
Very interesting is my Tax Rate is based on an income of 250K annually plus my cost for Health Insurance. Your rate includes 0% State and Federal Taxes and yet at the end of the day we pay the same rate