Wednesday, December 29, 2004

American Workers enrolled in Flexible Spending Medical Accounts will forfeit $210 million this year. This is money put away paycheck by paycheck for projected medical expenses during the year. The workers are given a tax deduction similar to that of an IRA. If the funds are not used they are forfeited and started anew. On average, workers contribute $250 to $3000 annually to these programs. So the US Government gloms this $210 million from "healthy Americans" and offers $35 million to the victims of the Tsunami. If the US Government conducted all its business this way, we would never have to worry about deficits and the demise of the Social Security System