AGI % for medical expenses raised

[taxea]

I haven't verified this yet but I read an article on CNN Money that said the AGI % for medical expenses is going up from 7.5 to 10% and just when many of my clients are retiring which means they could take advantage of the deductions...finally.
Now doesn't this just s**k!
Talk about screwing the elderly and low income...they may not be killing gramma but they sure are making her later years more difficult. I always thought they should waive the % for people over a certain age and of low income

[Snaggletooth]

Govt Cop-Out

When I got into this rat-race, the threshold was 3%. There was talk about government action to help control healthcare costs, but they didn't do it, but noticed they were losing revenue with this threshold, so they moved it up to 5%. More postponing of controlling medical costs, but it didn't happen and more people started deducting over the threshold, so they moved it up to 7.5%.

Now there was all this hoopla about health-care reform and cutting cost, so they pass this huge new bill with all manner of opportunity to reduce health-care costs. Again, nada. Nothing. Zero. You can now read in TTB excerpt on Brad's sticky where part of this legislation raises the threshhold to 10%. In other words rising to over TRIPLE the threshhold in place for the early 80s.

Can ANY of you read in this TTB analysis ANYTHING that has been done to lower health-care costs? Selling across state lines? Nope. Tort reform? Nope. Statutory limits on increases? Nope. Lifting the ban on Canadian drugs? Nope.

Is there ANYTHING in this bill which reduces healthcare costs instead of pumping more money into their coffers??? ANYTHING?

[dyne]

The new Health Insurance bill which was signed into law by President Obama DOES include a change for the medical expense deduction. It raises the threashold from 7.5% to 10% for those UNDER age 65. For taxpayers age 65 and older the OLD law of 7.5% threashold remains in affect. But what about a husband age 70 and a wife age 60? How would this work?

[taxcraft]

Predators are in control

Politicians are saying they cracked down on the insurance companies. With 30 million new customers, insurance premiums for the poor paid by the government, and mandatory membership....the insurance companies were paid to buy in. Congress asked them for permission to write the law.

[BHoffman]

Yep. It's not nice for the general public when Big Business and Big Government collude. Higher prices and higher taxes.

I wonder what a Japanese-made car would cost without the tariff included in the selling price?