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On the January 24 edition of MSNBC News Live , host Norah O'Donnell falsely claimed that President Bush's health care proposal is tax credits. In fact, Bush did not propose a tax credit but, rather, as the White House's fact sheet on the proposal states, A Standard [Tax] Deduction For Health Insurance. Tax credits and tax deductions are different, as the Internal Revenue Service explains as part of its Understanding Taxes education program: A tax deduction reduces income subject to tax, while a tax credit is a dollar-for-dollar reduction in the tax liability. Critics of the president's plan have argued that a credit would more effectively help those who cannot afford health insurance because credits are worth more to those who earn less. For example, a taxpayer who owes a 15 percent tax on $20,000 in taxable income would owe $3,000 in taxes. If she received a $3,000 tax deduction, that would reduce her taxable income to $17,000, and she would instead owe $2,550 -- $450 less -- in taxes. But if she received a $3,000 tax credit, it would reduce her tax bill to zero. Also, as a percentage of taxable income, tax credits are worth more to those with less taxable income, while, as The Washington Post pointed out on January 25, tax deductions are worth more to the affluent: Wealthier families who benefit from the deduction would get a much greater value than less-affluent families. The $15,000 deduction would be worth $5,250 to a family taxed at 35 percent but only $1,500 to one taxed in the 10 percent bracket. Some have criticized Bush for proposing a deduction rather than a credit, which, critics argue, would be more effective at helping those with lower incomes. As Tax Policy Center director Len Burman, Brookings Institution senior fellow Jason Furman, and Urban Institute principal research associate Roberton Williams stated in a January 23 report examining Bush's proposal: However, as under current law, the subsidy will be more valuable for high-income

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Medicaid Managed Care and Child Health Care Insurance Video | Audio only (15 mins 12 secs)

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1:25 p.m. - 4:32 p.m.Life and Health Insurance

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our superhero rescues not only the cat, but the woman herself, also now up the tree. BUPA Heartbeat is a personal health insurance plan that offers you five different levels of cover. Watch Superhero , the BUPA health insurance TV advert View the transcript of Superhero