Progressive tax policies should be implemented in a straightforward way. Doing so via Medicare during and after working years is a stealth tax masking the fact that income-receiving wealthy pay well over 40% of their incomes to the federal government and, in some states like mine, well over 10% to the state and local governments. Essentially, those that receive pure income can pay significantly higher taxes than we would in the most progressive Scandinavian nations. The dearth of articles on the relative value of Part B for IRMAA payers is interesting. Most articles are written by the insurance industry with a huge vested interest in collecting IRMAA Part B premiums. For relatively healthy individuals, paying the annual $6000 penalty for a doctor's visit or two, a common drug or two, and a vaccination or two can be irrational. Doom and gloom articles from the government and industry bring up highly exceptional circumstances and gloss over the fact that one later may sign up for Part B the first quarter of a year and pay a the 10% per year penalty on base Part B costs for years Part B was foregone. I am healthy and doing opting out of Part B. My costs for doctor visits, drugs and vaccinations last year were $359.
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Progressive tax policies should be implemented in a straightforward way. Doing so via Medicare during and after working years is a stealth tax masking the fact that income-receiving wealthy pay well over 40% of their incomes to the federal government and, in some states like mine, well over 10% to the state and local governments. Essentially, those that receive pure income can pay significantly higher taxes than we would in the most progressive Scandinavian nations. The dearth of articles on the relative value of Part B for IRMAA payers is interesting. Most articles are written by the insurance industry with a huge vested interest in collecting IRMAA Part B premiums. For relatively healthy individuals, paying the annual $6000 penalty for a doctor's visit or two, a common drug or two, and a vaccination or two can be irrational. Doom and gloom articles from the government and industry bring up highly exceptional circumstances and gloss over the fact that one later may sign up for Part B the first quarter of a year and pay a the 10% per year penalty on base Part B costs for years Part B was foregone. I am healthy and doing opting out of Part B. My costs for doctor visits, drugs and vaccinations last year were $359.
Post: Angry at IRMAA
Link to comment from October 13, 2023