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California Considers Doubling Its Taxes

taxfoundation.org

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Re: California Considers Doubling Its Taxes

#41

Post by lax4ever »

spamizbad wrote: post #26
lax4ever wrote: post #11

Earlier quoted context omitted.

Do you actually pay that much a year in insurance premiums? I don't live in CA, but I sure don't and my health coverage is pretty good. Keep in mind, this is also just the insurance premium, there's no talk of what co-pays or deductibles would be. In addition, your employer now has to pay more based on their gross receipts and if you make more than 150k a year you are paying even more.

I mean, my employer technically sponsors part of mine, but to cover my family I'm still paying roughly $10K each year in premiums.

My employer sponsors some of mine as well, but even if they weren't my premiums are still around half of what they listed in the article ($12.5k I think is listed in the article if I read it right). This is with coverage that has a minimal deductible and that includes great mental health coverage amongst other things.

Re: California Considers Doubling Its Taxes

#43

Post by thatfrenchguy »

trdtaylor1 wrote: post #25

Everyone who makes ~>250k would assumingly lose on this idea. Cost of insurance + maximum out of pocket would be smaller then the tax increase. I assume it would also be restricted to Cali without procuring a reciprocity agreement with a national insurer. If Dems managed to repeal the SALT deduction cap OR Cali just codes it to get around it (payroll tax direct to company only, and independent contractor business tax…

You only loose out though if you’re employed and you assume you’ll always be employed over 250k and never end up in a situation where your income drops and you loose your health insurance.

There are no national insurer btw, except for self insured employees.

Re: California Considers Doubling Its Taxes

#44

Post by bell-cot »

> A proposed constitutional amendment (ACA 11) in California would increase taxes...

However literally true that might be, the chance of the amendment being passed by voters seem neigh-zero. And the article seems to carefully avoid that subject.

So file this one in the "if we had a metal which could easily contain the temperatures and pressures needed for economical hydrogen fusion..." bin.

Re: California Considers Doubling Its Taxes

#46

Post by coderintherye »

after_care wrote: post #13
no_wizard wrote: post #4

> to fund a first-in-the-nation single-payer health-care system. This is key here. So instead of paying this out to a private insurance company I pay it in taxes, there by my actual change is net zero, in most cases. I have a feeling most reactions might be headline driven here. I think it’s worth doing the math on how much it costs you in healthcare coverage before really judging a book by its cover here. If my comp…

It’s very hard to do the math here. It’s largely invisible to me how much my employer is paying in health insurance premiums and it’s unknown that they will add that sum to my salary.

It's not invisible at all, what your employer pays for your health insurance is clearly stated on your W-2 in Box 12 unless you work for an exempt company.

https://www.irs.gov/affordable-care-act/form-w-2-reporting-o...

Re: California Considers Doubling Its Taxes

#48

Post by thrwn_frthr_awy »

after_care wrote: post #13
no_wizard wrote: post #4

> to fund a first-in-the-nation single-payer health-care system. This is key here. So instead of paying this out to a private insurance company I pay it in taxes, there by my actual change is net zero, in most cases. I have a feeling most reactions might be headline driven here. I think it’s worth doing the math on how much it costs you in healthcare coverage before really judging a book by its cover here. If my comp…

It’s very hard to do the math here. It’s largely invisible to me how much my employer is paying in health insurance premiums and it’s unknown that they will add that sum to my salary.

I'm not sure either, but during my time at Apple (one the richest and most advanced companies in the world) an additional $5-$6k was taken out of my paycheck if I wanted health care for me and my family. It's not like health care is automatically free for the working population.

Re: California Considers Doubling Its Taxes

#49

Post by commandlinefan »

no_wizard wrote: post #4

> to fund a first-in-the-nation single-payer health-care system. This is key here. So instead of paying this out to a private insurance company I pay it in taxes, there by my actual change is net zero, in most cases. I have a feeling most reactions might be headline driven here. I think it’s worth doing the math on how much it costs you in healthcare coverage before really judging a book by its cover here. If my comp…

> my actual change is net zero

Really? From what I can find on the internet, CA state income taxes are usually in the 10% range for most folks. Are you really paying 10% of your income for health insurance? I'm paying about 2.5% right now.

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