CNN iReport

Wake up people!

McCain's Health Insurance Plan will simply eliminate health insurance for tens of millions of Americans. It is a disaster in the making

McCain's plan is to tax the cost of group health insurance provided by employers for the first time ever. It is a truly MASSIVE TAX INCREASE.

Right now, If you have a job and get health insurance through your employer, neither the employee portion nor the employer paid portion are taxed. McCain will change that. He wants to tax both the employee paid portion (currently taken out in pretax dollarsand hence not taxed) and the employer paid portion. If the total of the two is $1,000/month for family coverage (typical), your paycheck will be taxed as if you are making $1,000 more than your actual salary. That will lower your take home pay roughly $300-$400 per month.

Who can afford that? Nobody. So employees will be forced to drop the coverage and employers will wind up eliminating the group policies altogether.

McCain offers a tax credit to buy individual health insurance policies. But health insurance companies turn down individual policy applicants who have pre-existing conditions, something they cannot do by law for group policies. So if you have a health condition, your OUT OF LUCK. Plus the amount of the credit, about $200/mo. for individuals, $400/mo. for families, won't even come close to buying a decent policy. And the older you are, the more policies cost, so his credit will be extremely age-discriminatory.

We are well on the way to destroying the middle class in this country and this would speed up that process big time.

Brokaw better ask McCain about this at the debate on Tuesday!