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  2. A Tale of Two Healthcare Tax Deductions

A Tale of Two Healthcare Tax Deductions

By mikethemadbiologist on August 9, 2009.

Or perhaps, health insurance deductions--of mice and men. In response to McCain's healthcare proposal, during the 2008 election, I laid out why tax deductions (or even credits) are a stupid healthcare policy. While I think it's foolish, at least, it attempts to be serious. But this is why I can't take Republican policy initiatives seriously:

Republican Congressman Thaddeus McCotter has proposed the Humanity and Pets Partnered Through the Years (HAPPY) Act.

McCotter's HAPPY Act would allow pet owners to take a $3,500 tax deduction for expenses related to pet and veterinary care.

As an avid pet-lover, I have no problem with this particular bill. However, I have a BIG problem with the Republican Party's priorities.

I like pets: THEY CAN HAZ HELFCARES!!! So how much do humans get? What do you think:

When tackling health insurance reform for humans, Republicans are far less generous. Varying Republican plans offer individual tax credits of only $2,500 or $2,290 to help Americans purchase health insurance on their own.

cat

We are so far beyond arguing about reimbursement rates--we have crossed over into the looney zone.

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healthcare

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A tax deduction is far less valuable than a tax credit. A tax credit goes to reduce the amount of tax you owe, a deduction reduces the amount of taxable income.