Maybe you don't have a hearing loss. Maybe you don't even know someone who experiences hearing loss (at least that you know of). So, why should you care about a tax bill that would give people with hearing loss a $500 tax credit for each hearing device they purchase?
While the initial outlay may seem like it will cost taxpayers more money, in the long run this tax credit actually saves taxpayers money. Here's how.
Children and Hearing Loss
Today, newborns are routinely tested for hearing loss at birth. The reason? If there are signs of hearing loss and a hearing professional can confirm this through other tests, that child can often be fitted with hearing aids at the age of just two weeks.
This early hearing loss intervention is critical to ensure normal speech and language development. If hearing loss goes untreated because the family could not afford hearing aids this not only leads to a delay in speech and language but increased tax dollars spent on this child.
According to a 1995 study published in the International Journal of Pediatric Otorhinolaryngology, children who do not receive early intervention for hearing loss face overall lifetime costs of nearly $1million in special education, lost wages and health complication; and will cost schools an additional $420,000.
Earning Power for Adults with Hearing Loss
According to a survey conducted by the Better Hearing Institute, persons with untreated hearing loss earn less on the job. That means they also pay less in taxes. The difference between a household with a member with hearing loss versus a household without a member who experiences hearing loss is literally thousands of dollars a year - and that translates into lower taxes coming back into government coffers.
So, these potential, taxpaying workers instead become a tax liability. They receive money from social services - Social Security disability and other state and local services that cost taxpayer dollars.
Seniors and Hearing Loss
Hearing loss is most common among our senior population. As we age, the hearing mechanism wears out due to the natural aging process. Age related hearing loss, referred to as presbycusis, affects as many as three out of 10 people over the age of 50 who experience hearing loss significant enough to impair the quality of life.
Not only is quality of life compromised due to hearing loss but so is safety. Seniors also need to hear the fire alarm if it sounds, or the smoke alarm or the carbon dioxide alarm. The need to hear the ambulance siren coming from behind them as they drive to the store. They need to be able to hear simply to enjoy life. And the better they hear, the longer they hear, the higher quality of life they enjoy.
The current legislation would provide a tax credit up to $1000 for two hearing aids for dependents and adults 55+. The Senate is also considering a bill which would cover all age groups.
One in four households in America has at least one person with a hearing loss and 2/3 cannot afford hearing healthcare. The children, earning power, the elderly and these staggering statistics should be enough to urge you to support this legislation.
Make a difference today. Tell your representative and your senators that you support the federal Tax Credit Act and they should to.
Yes, it's a money saver. But, you also know...it's the right thing to do.
For more information on the hearing aid tax credit and to contact your representatives visit: www.hearingaidtaxcredit.org.
To read more about this important legislation and how you can help ensure the legislation receives the support it needs visit: The Hearing Aid Tax Credit: Yes You SHOULD Care .