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Health Bill Extends Wage Tax to Investments

Erod

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FOXNews.com - Health Bill Extends Wage Tax to Investments

WASHINGTON - High-income families would be hit with a tax increase on wages and a new levy on investments under President Barack Obama's health care overhaul bill.

For the first time, the Medicare payroll tax would be applied to investment income, beginning in 2013. A new 3.8 percent tax would be imposed on interest, dividends, capital gains and other investment income for individuals making more than $200,000 a year and couples making more than $250,000.

The bill also would increase the Medicare payroll tax by 0.9 percentage point to 2.35 percent on wages above $200,000 for individuals and $250,000 for married couples filing jointly.

The new tax on investment income is higher than the 2.9 percent tax proposed by President Barack Obama. House Democratic leaders increased it so they could reduce the impact of a new tax on high-cost health insurance plans strongly opposed by labor unions.

The 40 percent tax on health benefits would be delayed until 2018 and would apply only to premiums exceeding $10,200 a year for individuals and $27,500 for families.

Someone please tell Obama that this is no way to encourage Americans to take risks with their capital on investing in the United States, and the world for that matter.

So I had to deal with my 40 percent losses in the market, and now you want to tax my recovery just because I re-diversified to the changed market?

This isn't government. This is reparations in disguise.
 
FOXNews.com - Health Bill Extends Wage Tax to Investments



Someone please tell Obama that this is no way to encourage Americans to take risks with their capital on investing in the United States, and the world for that matter.

So I had to deal with my 40 percent losses in the market, and now you want to tax my recovery just because I re-diversified to the changed market?

This isn't government. This is reparations in disguise.
please explain what you mean by reparations.
 
please explain what you mean by reparations.

Obama does not believe in this country. He carries an enormous chip on his shoulder against big business, against traditional wealth, against capitalism as the core component of our economy, and yes, he harbors a deep resentment for what were obviously major transgressions of our country against black Americans for the first 150 years of our existence.

I sincerely believe - and his friends, associates, career path, and core ideology show evidence - that he is intently geared to not only completely change our nation's structure and constitutional interpretation, but to punish corporate (white) America for the sins of slavery.

There is no tactic too low, no repercussion too great, for him to achieve this.
 
i would like to know why their costs would increase.

They explain it in the article. It changes the dynamics of competition for them while raising their costs.

One thing is certain: they will be laying off a lot of people, as will many companies.

Hello 15 percent unemployment?
 
They explain it in the article. It changes the dynamics of competition for them while raising their costs.

One thing is certain: they will be laying off a lot of people, as will many companies.

Hello 15 percent unemployment?
no, the article does not explain it one bit. not one.
 
Obama does not believe in this country. He carries an enormous chip on his shoulder against big business, against traditional wealth, against capitalism as the core component of our economy, and yes, he harbors a deep resentment for what were obviously major transgressions of our country against black Americans for the first 150 years of our existence.

I sincerely believe - and his friends, associates, career path, and core ideology show evidence - that he is intently geared to not only completely change our nation's structure and constitutional interpretation, but to punish corporate (white) America for the sins of slavery.

There is no tactic too low, no repercussion too great, for him to achieve this.
i see......you have nothing to back up your wild claims.
 
i see......you have nothing to back up your wild claims.

So tell me why a health bill should have anything in the world to do with taxes on investments?
 
no, the article does not explain it one bit. not one.

Businesses exist on margins and risk. If they are not in balance, you readjust your business (lay people off, cut back on expenses) until risk is within an acceptable margin, and profits are within an acceptable margin.

Good businesses don't operate outside of these projections, particularly those that have to satisfy investors' tolerance for risk.
 
FOXNews.com - Health Bill Extends Wage Tax to Investments



Someone please tell Obama that this is no way to encourage Americans to take risks with their capital on investing in the United States, and the world for that matter.

So I had to deal with my 40 percent losses in the market, and now you want to tax my recovery just because I re-diversified to the changed market?

This isn't government. This is reparations in disguise.

Reparations in disguise eh? So in your racist mind, only Black people will benefit from this? Please explain how.

You had to deal with your 40% losses like most of us. However, if you haven't regained that 40% and more then... you're doing it wrong.

Those reporting adjusted gross income of more than $250,000 to the IRS are projected to make up 2 percent of households next year (2009).

Joint returns with more than $250,000 adjusted gross income and single returns with more than $125,000 adjusted gross income together are estimated to make up 3.1 percent of households next year. According to the Tax Policy Center's calculations.
When people have too much disposable income they tend to create bubbles by investing unwisely. Please see tech and housing bubbles for examples.

I think we should get the Marginal Income Tax Rates back up over 70% for the top bracket too.
 
You had to deal with your 40% losses like most of us. However, if you haven't regained that 40% and more then... you're doing it wrong.


When people have too much disposable income they tend to create bubbles by investing unwisely. Please see tech and housing bubbles for examples.

I think we should get the Marginal Income Tax Rates back up over 70% for the top bracket too.

Wow.

OK, I have recovered my 40 percent, and I AM ONE OF THE FEW. If you left your money entirely alone, you haven't recovered. That's disingenuous for you to say. The market was at 14000, dropped to around 7000 and is back up to around 10600. Unless you doubled your contributions, or in my case, redistributed my dollars elsewhere, you haven't recovered but half thus far.

And really? You think people should be paying 70 percent in taxes? Look what that did for England. LOL

"Too much disposable income"? So I should not be allowed to make "too much disposable income"? Wow, if that ain't Stalin-esque, I don't know what is.
 
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They explain it in the article. It changes the dynamics of competition for them while raising their costs.

One thing is certain: they will be laying off a lot of people, as will many companies.

Hello 15 percent unemployment?

IMO Unemployment taken nationwide already exceeds 15% and in particular situations in certain parts of the US can and does reach over 20%.
 
I know, I'm pretty damn amazing! :2bow:

OK, I have recovered my 40 percent, and I AM ONE OF THE FEW. If you left your money entirely alone, you haven't recovered. That's disingenuous for you to say. The market was at 14000, dropped to around 7000 and is back up to around 10600. Unless you doubled your contributions, or in my case, redistributed my dollars elsewhere, you haven't recovered but half thus far.
If anyone just let their money sit while the market tanked and then made good comeback then... like you cons drone on about - personal responsibility/financial responsibility. So I'm sorry but you don't get to use other peoples lack of responsibility as part of your argument. Consistency sucks, eh? :2razz:
But seriously, if you didn't take advantage of the huge dip in the market then you're just another ignorant/disinterested 401k investor. I mean, for pete's sake Apple got down to 82, if you didn't buy Apple shares after having gone from over 200 down to 82 and back up over 200, or CSX at 21 now over 50, then, too bad for you.

And really? You think people should be paying 70 percent in taxes? Look what that did for England. LOL
LOL...
http://www.taxpolicycenter.org/taxfacts/displayafact.cfm?Docid=213

"Too much disposable income"? So I should not be allowed to make "too much disposable income"? Wow, if that ain't Stalin-esque, I don't know what is.
Oh, you can make all you want but you should be heavily taxed, like the above chart indicates. We seemed to prosper just fine when the rich were appropriately taxed. Compared to where we are today... not so good.
 

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This is sort of like the states saying that lottery money goes back to education. Once the money is paid to the government it is fungible. With a deficit of $1.3 trillion we certainly will have to raise taxes.

If this tax is really to partly pay for this bill, what happens if either the revenue falls short or expenses are higher than expected? Who is going to keep track to make sure this thing is paid for once implemented.
 
Wow.

OK, I have recovered my 40 percent, and I AM ONE OF THE FEW. If you left your money entirely alone, you haven't recovered. That's disingenuous for you to say. The market was at 14000, dropped to around 7000 and is back up to around 10600. Unless you doubled your contributions, or in my case, redistributed my dollars elsewhere, you haven't recovered but half thus far.

And really? You think people should be paying 70 percent in taxes? Look what that did for England. LOL

"Too much disposable income"? So I should not be allowed to make "too much disposable income"? Wow, if that ain't Stalin-esque, I don't know what is.

I really like when people equate higher taxes on the wealthy to fascists, stalin, hitler, or slavery. Hyperbole much?

If you think a 70% marginal tax rate equals 70% in taxes, you should probably stop commenting on this subject because you don't even understand it.
 
This is sort of like the states saying that lottery money goes back to education. Once the money is paid to the government it is fungible. With a deficit of $1.3 trillion we certainly will have to raise taxes.

If this tax is really to partly pay for this bill, what happens if either the revenue falls short or expenses are higher than expected? Who is going to keep track to make sure this thing is paid for once implemented.

No, we certainly do not. The government should be finding ways to cut its expenses to get that side of the equation back in line with its revenues, just like individuals and businesses have to do. That it isn't actively and aggressively doing right now that is the height of arrogance and incompetence.
 
LOL...
Historical Top Tax Rate


Oh, you can make all you want but you should be heavily taxed, like the above chart indicates. We seemed to prosper just fine when the rich were appropriately taxed. Compared to where we are today... not so good.

You and others keep on making this argument, but repetition doesn't make it any more reasonable.

Why don't you look up what percentage of people fell into the highest tax bracket back when the top marginal rates were that high.
 
FOXNews.com - Health Bill Extends Wage Tax to Investments



Someone please tell Obama that this is no way to encourage Americans to take risks with their capital on investing in the United States, and the world for that matter.

So I had to deal with my 40 percent losses in the market, and now you want to tax my recovery just because I re-diversified to the changed market?

This isn't government. This is reparations in disguise.

It's not reparations, saying that makes your argument silly and easy to distort and ridicule.

Avoid extreme, panicky language and stick to the facts.
 
It's not reparations, saying that makes your argument silly and easy to distort and ridicule.

Avoid extreme, panicky language and stick to the facts.

Exactly. It's a substantial backdoor tax increase that deserves to be discussed on its own merit rather than lumped in behind thousands of other issues. That's newsworthy enough on its own.
 
Exactly. It's a substantial backdoor tax increase that deserves to be discussed on its own merit rather than lumped in behind thousands of other issues. That's newsworthy enough on its own.

I'm not sure if the tax is immediate but assuming that it is, that would be a poor choice in the midst of an economic recovery.
Probably better enacted in 6 months to 1 year.

As much as I hate increases in taxes, no matter which way we cut it, we will have to have them with cuts in spending to make things "better."
 
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No, we certainly do not. The government should be finding ways to cut its expenses to get that side of the equation back in line with its revenues, just like individuals and businesses have to do. That it isn't actively and aggressively doing right now that is the height of arrogance and incompetence.

It needs to be both, really. The problem is during a recession, reducing spending and raising taxes just amplify the problem.
 
1. cbo says its score does not include 53B in administrative costs, cuz it wasn't ASKED for by misrepresenting ms pelosi to score the costs of implementation and oversight

2. the bill raids social security of 52B intended to shore up THAT bankrupt entitlement, essentially double counted

3. it accounts 72B of premiums raised thru the class act as offsets, leaving nothing to pay for the coverage of those "invulnerables" forced into the system by the mandate to buy a PRIVATE plan

4. only SEVEN PERCENT, according to the joint committee on taxation, of americans will qualify for the bankrupt govt's piddly subsidies, which will only cover a PORTION, not all, of the BRAND NEW LEGAL REQUIREMENT to buy aetna

5. it double counts, according to cbo, 246B, using the same overstretched medicare tax dollars both to finance new programs and to pay existing expenses

6. it fails to account for, according to cbo, 208B of doc fix

7. it counts on about a half T "recovered" in the areas of WASTE, FRAUD AND ABUSE---that's a HALF A TRIL in WFA---completely absurd, incredible, ridiculous, insulting to the memory of ted kennedy, even, that he couldn't find something so BIG in all those years of looking...

8. it raises another half T in new taxes on payroll, providers, investors, targeted industries...

9. and all of this upside-down-ness is predicated on TEN YEARS OF TAXES vs SIX OF PAYOUTS

10. the true cost of this immense new entitlement over 10 years of implementation is closer to 2.3T

11. the entire purpose of this gargantuan makeover has been twisted---originally the president wanted to bend down the cost curve, now he's all about expansion

12. YOU CAN'T MASSIVELY EXPAND MEDICARE AND MEDICAID AT THE SAME TIME YOU MAKE DRASTIC CUTS TO BOTH ALREADY OVERSTRAINED ENTITLEMENTS

13. medicare as it is turns RED in 2017

14. medicare faces THIRTY FOUR TRILLION DOLLARS of UNFUNDED LIABILITY in the out years

15. the chief actuary of medicare says up to 20% of medicare providers will be forced out of business as a result of this reform due to the expansion of recipients and the huge cuts to funding

16. already all around the country caregivers are refusing to treat medicare and medicaid enrollees

17. canada has this problem bigtime, the inability of individuals even to find a doctor who will take them on

18. if this pig passes pelosi the debate will only get hotter, IT WON'T GO AWAY

19. the fight in the senate is gonna be epic

20. the american people are overwhelmingly on the side of NO

21. congress is receiving ONE HUNDRED THOUSAND PHONE CALLS PER HOUR

22. the SPIRIT of reconciliation is to REDUCE govt, hence the byrd rule

23. the LETTER of reconciliation cannot cover mandates on individuals to start paying aetna hundreds of dollars a month

24. leadership is opening itself to constitutional challenges WHICH ARE ABSOLUTELY 100% CERTAIN TO COME

25. this mandate on individuals to buy can't fly

26. this DEEM violates scotus' directives outlined in 1998 when it overturned the line item veto that house and senate legislations must agree 100%, down to each dotted i and crossed t

27. the present disposition of scotus is gonna be very unfriendly to this DEEM

28. the DEEM is gonna DAMN the DEMS, domestically, politically

29. dpforums is strangely, eerily quiet---progressives do not appear pleased

30. this is a disaster for our economics and our social standings

31. no wonder everyone around here sounds so sad, all sides

32. take care, all, enjoy your weekend
 
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