How will John McCain make sure his $5000 tax credit for heath care gets used for health care?

How will we know that people use this money to buy heath insurance instead of using the money for something else? Does anyone know about how this plan is detailed?

How will John McCain make sure his $5000 tax credit for heath care gets used for health care?
Well, with a tax credit, you'll have to pay your health insurance costs up front and out of pocket, then on your income tax return, after you calculate what you owe (or how much of a refund you're getting), you'll deduct the $5000 tax credit (or add it to your refund, whichever).





Presumably, you'll have to provide details on your tax return (on a separate form, maybe) of how much you actually spent on health insurance premiums and other costs, maybe even provide the name of your insurance carrier. Then, should you get audited by the IRS, you'll have to be able to show proof that you actually paid those premiums. Of course, since most people don't get audited, its not clear how they'll prevent dishonest people from evading taxes by claiming the the tax credit if they're not entitled to it.





I think I also heard or read that under McCain's plan, if your employer pays your health insurance, you'll be taxed on those premiums as additional income -- although for most people, those taxes would be offset by the $5000 tax credit.
Reply:It will be used for healthcare the same way that the auto industry used their tax breaks to create more jobs - not at all. I don't think he really cares after the money is doled out and that is one of the major problems with his plan. I think that it will result in a lot more Americans being uninsured. Yeah, it's their stupidity but that will mean higher costs for all of us who do use that money as intended because those people are still going to get sick, they're still going to show up at the hospital, they're still going to get treatment and they're not going to be paying for it.
Reply:It is not 100% clear. I have heard one version that the refundable credit is paid directly to the insurance company, but given the way that refundable credits work that does not sound right.





The way that most tax credits (refundable or not) work is that you show it on your tax return. If you get audited, you would have to prove (e.g. copies of your checks) that you actually paid that much for health care.
Reply:As with all tax credits....after the fact. You will get the credit when you do your Federal income taxes...soooooo....you have to initially come up with the money to buy health insurance and then you'll deduct it from your taxes. You don't have the money, you say? Ah, there's the rub!
Reply:Im not sure of the answer to your question but dont you think if the government gives you money for healthcare and your an idiot that uses it on something else then you deserve to be sick and suffer without insurance
Reply:You want the truth, right?





The truth is that he won't know. There is now way of enforcing it.





My point is that his plan doesn't make sense. That's one of several reasons I won't vote for him.
Reply:





He won't


I CAN SEE RUSSIA FROM MY HOUSE Palin will.


McCain will be death and she will be keeping an eye on every american, specially those joe six pack, ( Beers six packs)
Reply:did u watch the debate?

floral shops