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Thread: One man's ObamaCare nightmare[W:51]

  1. #301
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    Re: One man's ObamaCare nightmare

    [QUOTE=j-mac;1062386972]No, you're right. It is a miscarriage when a super majority of one party crafts a bill behind closed doors, won't allow anyone from the minority party in to amend, pays off skiddish members of their own party to pass it, and then does a hurried vote at midnight on Christmas eve, to ram it through. That is not the way we do things no matter what you say.

    Remember, most like the things in the law. Once you understand that, you will see the only thing unpopular is the mischaracterizing of the law. Stop misrepresebpnting it, and it might possibly become popular.[/QUOT

    So, what I read you saying here is, 'Most people like free stuff in the bill, and if the other side would just stop revealing the horrible things contained within the law then we could lull people to sleep so that they just accept it.'

    What people are not paying attention to is the taxation that is coming along with this turd...

    "Taxes that took effect in 2010:

    1. Excise Tax on Charitable Hospitals (Min$/immediate): $50,000 per hospital if they fail to meet new "community health assessment needs," "financial assistance," and "billing and collection" rules set by HHS. Bill: PPACA; Page: 1,961-1,971.

    2. Codification of the “economic substance doctrine” (Tax hike of $4.5 billion). This provision allows the IRS to disallow completely-legal tax deductions and other legal tax-minimizing plans just because the IRS deems that the action lacks “substance” and is merely intended to reduce taxes owed. Bill: Reconciliation Act; Page: 108-113.

    3. “Black liquor” tax hike (Tax hike of $23.6 billion). This is a tax increase on a type of bio-fuel. Bill: Reconciliation Act; Page: 105.

    4. Tax on Innovator Drug Companies ($22.2 bil/Jan 2010): $2.3 billion annual tax on the industry imposed relative to share of sales made that year. Bill: PPACA; Page: 1,971-1,980.

    5. Blue Cross/Blue Shield Tax Hike ($0.4 bil/Jan 2010): The special tax deduction in current law for Blue Cross/Blue Shield companies would only be allowed if 85 percent or more of premium revenues are spent on clinical services. Bill: PPACA; Page: 2,004.

    6. Tax on Indoor Tanning Services ($2.7 billion/July 1, 2010): New 10 percent excise tax on Americans using indoor tanning salons. Bill: PPACA; Page: 2,397-2,399.

    Taxes that took effect in 2011:

    7. Medicine Cabinet Tax ($5 bil/Jan 2011): Americans no longer able to use health savings account (HSA), flexible spending account (FSA), or health reimbursement (HRA) pre-tax dollars to purchase non-prescription, over-the-counter medicines (except insulin). Bill: PPACA; Page: 1,957-1,959.

    8. HSA Withdrawal Tax Hike ($1.4 bil/Jan 2011): Increases additional tax on non-medical early withdrawals from an HSA from 10 to 20 percent, disadvantaging them relative to IRAs and other tax-advantaged accounts, which remain at 10 percent. Bill: PPACA; Page: 1,959.

    Taxes that took effect in 2012:

    9. Employer Reporting of Insurance on W-2 (Min$/Jan 2012): Preamble to taxing health benefits on individual tax returns. Bill: PPACA; Page: 1,957.

    Taxes that take effect in 2013:

    10. Surtax on Investment Income ($123 billion/Jan. 2013): Creation of a new, 3.8 percent surtax on investment income earned in households making at least $250,000 ($200,000 single). This would result in the following top tax rates on investment income: Bill: Reconciliation Act; Page: 87-93.

    Capital Gains Dividends Other*
    2012 15% 15% 35%
    2013+ 23.8% 43.4% 43.4%
    *Other unearned income includes (for surtax purposes) gross income from interest, annuities, royalties, net rents, and passive income in partnerships and Subchapter-S corporations. It does not include municipal bond interest or life insurance proceeds, since those do not add to gross income. It does not include active trade or business income, fair market value sales of ownership in pass-through entities, or distributions from retirement plans. The 3.8% surtax does not apply to non-resident aliens.

    11. Hike in Medicare Payroll Tax ($86.8 bil/Jan 2013): Current law and changes:

    First $200,000
    ($250,000 Married)
    Employer/Employee All Remaining Wages
    Employer/Employee
    Current Law 1.45%/1.45%
    2.9% self-employed 1.45%/1.45%
    2.9% self-employed
    Obamacare Tax Hike 1.45%/1.45%
    2.9% self-employed 1.45%/2.35%
    3.8% self-employed

    Bill: PPACA, Reconciliation Act; Page: 2000-2003; 87-93

    12. Tax on Medical Device Manufacturers ($20 bil/Jan 2013): Medical device manufacturers employ 360,000 people in 6000 plants across the country. This law imposes a new 2.3% excise tax. Exempts items retailing for <$100. Bill: PPACA; Page: 1,980-1,986

    13. Raise "Haircut" for Medical Itemized Deduction from 7.5% to 10% of AGI ($15.2 bil/Jan 2013): Currently, those facing high medical expenses are allowed a deduction for medical expenses to the extent that those expenses exceed 7.5 percent of adjusted gross income (AGI). The new provision imposes a threshold of 10 percent of AGI. Waived for 65+ taxpayers in 2013-2016 only. Bill: PPACA; Page: 1,994-1,995

    14. Flexible Spending Account Cap – aka “Special Needs Kids Tax” ($13 bil/Jan 2013): Imposes cap on FSAs of $2500 (now unlimited). Indexed to inflation after 2013. There is one group of FSA owners for whom this new cap will be particularly cruel and onerous: parents of special needs children. There are thousands of families with special needs children in the United States, and many of them use FSAs to pay for special needs education. Tuition rates at one leading school that teaches special needs children in Washington, D.C. (National Child Research Center) can easily exceed $14,000 per year. Under tax rules, FSA dollars can be used to pay for this type of special needs education. Bill: PPACA; Page: 2,388-2,389

    15. Elimination of tax deduction for employer-provided retirement Rx drug coverage in coordination with Medicare Part D ($4.5 bil/Jan 2013) Bill: PPACA; Page: 1,994

    16. $500,000 Annual Executive Compensation Limit for Health Insurance Executives ($0.6 bil/Jan 2013). Bill: PPACA; Page: 1,995-2,000

    Taxes that take effect in 2014:

    17. Individual Mandate Excise Tax (Jan 2014): Starting in 2014, anyone not buying “qualifying” health insurance must pay an income surtax according to the higher of the following

    1 Adult 2 Adults 3+ Adults
    2014 1% AGI/$95 1% AGI/$190 1% AGI/$285
    2015 2% AGI/$325 2% AGI/$650 2% AGI/$975
    2016 + 2.5% AGI/$695 2.5% AGI/$1390 2.5% AGI/$2085
    Exemptions for religious objectors, undocumented immigrants, prisoners, those earning less than the poverty line, members of Indian tribes, and hardship cases (determined by HHS).Bill: PPACA; Page: 317-337

    18. Employer Mandate Tax (Jan 2014): If an employer does not offer health coverage, and at least one employee qualifies for a health tax credit, the employer must pay an additional non-deductible tax of $2000 for all full-time employees. Applies to all employers with 50 or more employees. If any employee actually receives coverage through the exchange, the penalty on the employer for that employee rises to $3000. If the employer requires a waiting period to enroll in coverage of 30-60 days, there is a $400 tax per employee ($600 if the period is 60 days or longer).Bill: PPACA; Page: 345-346

    Combined score of individual and employer mandate tax penalty: $65 billion/10 years

    19. Tax on Health Insurers ($60.1 bil/Jan 2014): Annual tax on the industry imposed relative to health insurance premiums collected that year. Phases in gradually until 2018. Fully-imposed on firms with $50 million in profits. Bill: PPACA; Page: 1,986-1,993

    Taxes that take effect in 2018:

    20. Excise Tax on Comprehensive Health Insurance Plans ($32 bil/Jan 2018): Starting in 2018, new 40 percent excise tax on “Cadillac” health insurance plans ($10,200 single/$27,500 family). Higher threshold ($11,500 single/$29,450 family) for early retirees and high-risk professions. CPI +1 percentage point indexed. Bill: PPACA; Page: 1,941-1,956"

    20 Hidden Tax Hikes in Obamacare




    It is valid to call things what they are.
    Try linking the document and not newsmax. I don't have time to do that for you now. But these are all part of getting things people want. There's no magic. So, again, having things you don't like doesn't make it invalid. And much of what you point out could be addressed individually if congress decided to work instead of whine.

    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.

  2. #302
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    Re: One man's ObamaCare nightmare

    yer right about that the ACA is a miscarriage that should be flushed

  3. #303
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    Re: One man's ObamaCare nightmare


  4. #304
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    Re: One man's ObamaCare nightmare[W:51]

    Outstanding....!
    Americans are so enamored of equality that they would rather be equal in slavery than unequal in freedom.

    Alexis de Tocqueville

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    Re: One man's ObamaCare nightmare

    I can't seem to connect to that link.. Would you mind giving more info, Thanks?

  6. #306
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    Re: One man's ObamaCare nightmare

    "don't you care about all the other Americans with their hands out"
    you 47%'ers are pathetic

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