Here are reasons why people should support I-1436 to be able to opt-out of the coming Long Term Care Tax
The Restore Washington group and Yes on 1436 are fighting back against what they deem to be an unfair, mandatory payroll tax that is poorly written and that deducts 0.58% of every $100 earned that goes into the Washington Cares Fund that workers may never benefit from.
The problems with the Long Term Care Tax are described by Yes on 1436:
- Requires you to buy an expensive private insurance or pay for a limited state plan.
- Forces you to pay in, but you receive no benefits if you retire within 10 years.
- Takes away your benefits if you move to another state (can't take it with you).
- Taxes you with NO income cap - even Social Security and Medicare don't do that!
- Taxes you for your entire working life while your benefits are limited and could last less than a year.
People in support of the Long Term Care Act say that the tax supports Washingtonians over age 65, those who have a median retirement savings, those who need Medicare, and Washingtonians who are uninsured. Washingtonians for a Responsible Future reports that "Medicaid-funded long-term care will skyrocket up 91% to 4.01 billion per year" and middle class families becoming impoverished from long-term care expenses can then use the long-term care provided by the Long Term Care Act, that contributing sets up a new benefit by contributing "a little bit over the course of decades to gain relief from expensive bills at the moment they need care".
Restore Washington reports that 325,000 valid signatures are needed by December 31 to support I-1436. They seek the public's help for signature gathering by signing up to receive their free petitions by filling out your name and contact information on their Yes on 1436 online site.
The Bellevue Zone first reported on this here.
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