Last night’s Presidential debate has sparked several heated conversations around the country. The hot topics included health care reform and the economy as both candidates tried to convince Americans that they would be the best choice for the Oval Office. The middle class seemed to be the focal audience addressed by both President Obama, and Republican candidate, Mitt Romney, although several other groups stand to be affected greatly by who wins the upcoming election. A recent statement from the American Dental Association also considered these two critical areas of concern in regards to the upcoming scheduled tax increases and spending cuts that could have a tremendous effect on the dentistry world. Details were reported in the ADA News article, “ADA advises Congress on looming tax cliff.”
According to the ADA statement, the cuts and tax increases, scheduled to take effect on January 1, 2013, could have a “chilling effect” on dental practices. The ADA believes that increasing taxes in this very sluggish economy would only increase the cost of care, obviously negatively impacting access, which is already a huge industry hurdle. Like all other small businesses, dentists who own their own practice stand to suffer significantly by an increase in tax rates and loss of deductions and exemptions. For example, the previous maximum write-off for investments in equipment and operations was $139,000. The 2013 limit will be set at just $25,000; an amount many fear will not be enough to cover capital expenditures in the dental profession. There are a handful of other scheduled tax hikes that the Association claims will also contribute to dental industry distress, making it even harder to hire new employees and maintain and develop sound and technologically current facilities. It’s obvious that a lot is at stake with this election, for the middle class and small businesses alike.
With recent research showing a growing epidemic of oral disease in America, routine dental check-ups and hygiene are crucial. It is no secret that we are in the midst of a challenging economic time, and many are foregoing their dental care simply for fear they can’t afford it. At Miami Dental Sedation Spa, the patient is the top priority however, and Dr. Luis Sanchez is committed to building a personal relationship with all of his patients, without restrain on procedures, fees, and time. That’s why all dental insurance coverage is maximized and several payment methods are accepted. Interest free financing is also available for those who need it. Regardless of who wins the upcoming election, don’t let fear of financial burden or dental procedures keep you from obtaining a healthy, bright smile.