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Thread: SCOTUS LIVEBLOG - Obamacare Mandate Survives-Part 2[W:1, 183, 386, 590]

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    Re: SCOTUS LIVEBLOG - Obamacare Mandate Survives-Part 2

    Quote Originally Posted by Boo Radley View Post
    Let me ask you, if you have insurance, what is your tax increase?

    But that has nothing to do with what i said. Let me repost:

    They are paying for them now, before reform. I don't think this is wonderful, but keeping the status quo, where we're not only paying, but paying a lot, doesn't seem like something those worrying about paying for others should want to go back to.

    I may be giving you more credit than I should. I don't buy into the "everything will be paid for from some unknown entity". Coverage, including all the doctors, drugs, hospitals, etc., that will be needed will not be covered. And how someone like you, who I thought had at least some sort of a handle on this, could believe that this TAX isn't going to fall on the middle class is beyond me.

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    Re: SCOTUS LIVEBLOG - Obamacare Mandate Survives-Part 2

    Quote Originally Posted by Billy the Kid View Post
    I may be giving you more credit than I should. I don't buy into the "everything will be paid for from some unknown entity". Coverage, including all the doctors, drugs, hospitals, etc., that will be needed will not be covered. And how someone like you, who I thought had at least some sort of a handle on this, could believe that this TAX isn't going to fall on the middle class is beyond me.
    If that cost is picked up through taxes, it won't from the mandate. From the mandate, you are not being taxed if you have insurance. if you have other information I don't have on that present it. Otherwise, I'm correct that the mandate has not raised your taxes.

    No one here that I know is arguing magic will pay for anything. The law assumes something that will either prove true or false, like that the pool growth will help pay for the preexisting conditions and that cutting the middle man out of school loans will save money that can be used on health care. But, until a tax is passed, you can say you are being taxed now.

    AUSTAN GOOLSBEE: I think the world vests too much power, certainly in the president, probably in Washington in general for its influence on the economy, because most all of the economy has nothing to do with the government.

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    Re: SCOTUS LIVEBLOG - Obamacare Mandate Survives-Part 2


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    Re: SCOTUS LIVEBLOG - Obamacare Mandate Survives-Part 2

    How does the 3.8% tax on real estate work exactly? I have heard that it applies to any house sold for $500,000 and above. What if someone is holding a mortgage for 350 thousand and sells for 500 grand? Your walking away with 150 grand but have to pay a new tax of $19,000. Is this correct? If so that is quite a hit.

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    Re: SCOTUS LIVEBLOG - Obamacare Mandate Survives-Part 2

    Quote Originally Posted by Albert Di Salvo View Post
    I did ask you why partisans think that a ruling they don't like means there is something wrong with the judges. Maybe you can answer that?

    AUSTAN GOOLSBEE: I think the world vests too much power, certainly in the president, probably in Washington in general for its influence on the economy, because most all of the economy has nothing to do with the government.

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    Re: SCOTUS LIVEBLOG - Obamacare Mandate Survives-Part 2

    Quote Originally Posted by Boo Radley View Post
    I did ask you why partisans think that a ruling they don't like means there is something wrong with the judges. Maybe you can answer that?
    Why did the left go crazy about Citizens United? Because the left saw it as an illegitimate power grab. That's why President Obama beat on the Supreme Court at his State of the Nation speech a couple of years ago. It's the political culture that requires we fight to the death. It's the way America does business in this age.

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    Re: SCOTUS LIVEBLOG - Obamacare Mandate Survives-Part 2

    Quote Originally Posted by jerry7 View Post
    How does the 3.8% tax on real estate work exactly? I have heard that it applies to any house sold for $500,000 and above. What if someone is holding a mortgage for 350 thousand and sells for 500 grand? Your walking away with 150 grand but have to pay a new tax of $19,000. Is this correct? If so that is quite a hit.
    I don't know. The answer will probably be somewhere in the 13,000 pages of regulations being prepared for promulgation. It may be a situation where the IRS collects the tax on the gross sales price and lets you file a request for a waiver or reduced payment the way FIRPTA works for nonresident aliens. Time will tell. Hire a high priced lawyer. You can't go wrong by hiring expensive legal advice. Everyone should do it.

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    Re: SCOTUS LIVEBLOG - Obamacare Mandate Survives-Part 2

    Quote Originally Posted by Albert Di Salvo View Post
    I don't know. The answer will probably be somewhere in the 13,000 pages of regulations being prepared for promulgation. It may be a situation where the IRS collects the tax on the gross sales price and lets you file a request for a waiver or reduced payment the way FIRPTA works for nonresident aliens. Time will tell. Hire a high priced lawyer. You can't go wrong by hiring expensive legal advice. Everyone should do it.
    Wait...you're saying that Congress passed the bill and we STILL don't know what's in it?!? That nice lady Nancy Pelosi told another whopper? Devastating!

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    Re: SCOTUS LIVEBLOG - Obamacare Mandate Survives-Part 2

    Quote Originally Posted by Albert Di Salvo View Post
    I try not to dwell on moronic thoughts.

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    Re: SCOTUS LIVEBLOG - Obamacare Mandate Survives-Part 2

    Quote Originally Posted by jerry7 View Post
    Wait...you're saying that Congress passed the bill and we STILL don't know what's in it?!? That nice lady Nancy Pelosi told another whopper? Devastating!
    That's just the reality of modern day legislation. It isn't anything deceptive or anything, that's just how it works for everything. The actual legislation passed by Congress sets up high level goals, it creates administrative agencies or positions or departments within agencies that are then tasked with coming up with the more specific regulations, then through a mix of agency and court decisions it continually gets more fleshed out and changes shape over time. That isn't just health care, that's how every major piece of legislation works. The major environmental statutes, for example, continue to generate tons of new regulations and directives and whatnot every day. Life is just way, way, too complicated to like spell out everything we'll ever need to know to totally redesign the health care system in a nice neat 10 page bill.
    Total tax rates- People living in poverty: 16.2%. The median American: 27%. Working people who make over $140k/year: 31%. The top 1%: 30%. Super rich investors: around 15%. Help the democrats retake the house.

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