Fool Me Once, Shame on You...
A question. When George W. Bush said:
[Although we are adding the value of health insurance contributions by employers to the income subject to personal income and payroll taxes, we are adjusting things so that] amilies with health insurance will pay no income or payroll taxes on [the first] $15,000 of their income. Single Americans with health insurance will pay no income or payroll taxes on [the first] $7,500 of their income...
Did he mean, "But the Alternative Minimum Tax will still apply to all income reported on your W-2, plus the value of health insurance contributions made by your employer, with no adjustment for this new health deduction"?
