I think they should pass a windfall profits tax on the Insurance Industry

[WI_DEM]

excess profits and put the $ towards providing insurance for the uninsured rather than expecting the uninsured to buy the insurance.

I admit I don't know all about tax policy and such but this is an idea somebody was kicking around the other day. Health Care, in my view, should be not for profit anyway.

[rd_kent]

1. All profits above 5% should be taxed at 100% rate and reinvested into a fund to pay for the

mandatory insurance people will have to buy.

[WI_DEM]

2. And this I think they can do under reconciliation because it's a tax issue

after all Bush got three tax cuts through on Reconciliation.

[cbdo2007]

3. There are too many ways around this for all of them....

They'll just magically turn their "profits" into "expenses" of some sort and boom now that turns it into a write off.

Really we need to tighten all the tax rules for all companies so that they're followed correctly and their taxes are paid. Too many loopholes are helping big business and if we actually had big corporations pay in taxes what small businesses have to pay - we'd have more money than even Congress would know what to do with (though I'm sure they'd think of something stupid to spend it on besides health care).

[Better Today]

7. Yep, I was about to chime in and say the same things. Windfall

profits don't work. I liked the cosmetic surgery (excluding repairs of disfigurements) tax was an excellent idea, and I like the tax on those making $500Ksingle or $1M couple.

[ThomWV]

4. Look up "Bills of attainder"

Article I, Section 9, third paragraph.

[safeinOhio]

8. States can deny all rate increases until profits

become reasonable for investment risk. Now there are no risk. Insurers raise rates to insure profits. If claims go up, rates go up. If profits or overhead go up, rates go up.

[andym]

5. Very good idea. nt.

[Lugnut]

6. That sounds good to me. n/t