Revise the personal health assessment calculation

Problem: Revisions have been made to the calculations that were developed for ballot initiative I-1600. The revision will apply to a bill that has been drafted using the plan for I-1600. This is a request for a corresponding revision to the calculator computation method.

The current calculation under I-1600:

Health Security Assessment of 8.5% payroll paid by employer
A Personal Health Assessment of 1% Income Tax paid by individuals
An 8.5% capital gains tax.

The revised calculation under the proposed bill:

Health Security Assessment of 8.5% payroll paid by employer
A Personal Health Assessment for employees and for sole proprietors, as follows:
- For employees - 2% of payroll, paid by employees (employers are ultimately responsible for collecting this and may pay all or a portion of it for the employee as an employment benefit)
- For sole proprietors - a 2% tax on net earnings from self employment with a filing threshold of $15,000 annually (as defined by federal taxes) 3) An 8.5% capital gains tax.

All exemptions are equal or equivalent to $15,000 - (25% of total amount subject to the tax) annually.

If you have time to work on this issue, please alert the #ww-calculator channel in the ProgCode Slack. Thank you! :raised_hands:

marcaaron / yes-on-1600

Revise the personal health assessment calculation #70