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The tax increases of the Reid plan on ObamaCare

apdst

apdst

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I have to LOL when I see stuff like this. How can any common person, regardless of politics, go along with this stupidity? Pelosi's bills mandates a $15,000 policy and Reid's bill is going to slap a 40% excise tax on it. How is this supposed to make health care more affordable, again?

40% excise tax on health coverage in excess of $8,500 (individuals) / $23,000 (families). Amounts are indexed for inflation by CPI-U + 1% – begins in 2013 – $149 B tax increase

Additional 0.5% Medicare (Hospital Insurance) tax on wages in excess of $200,000 ($250,000 for joint filers) – begins in 2013 – $54 B tax increase

Impose annual fee on manufacturers and importers of branded drugs – begins in 2010 – $22 B tax increase

Impose annual fee on manufacturers and importers of certain medical devices – begins in 2010 – $19 B tax increase

Cut in half (to $500K) the amount of an executive’s compensation that a health plan can deduct from its corporate income taxes – begins in 2013 – $600 million tax increase

Impose 5% excise tax on cosmetic surgery and similar procedures – begins for surgery in 2010 – $6 B tax increase!

Hot Air Blog Archive The tax increases of the Reid plan on ObamaCare
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apdst said:
I have to LOL when I see stuff like this. How can any common person, regardless of politics, go along with this stupidity? Pelosi's bills mandates a $15,000 policy and Reid's bill is going to slap a 40% excise tax on it. How is this supposed to make health care more affordable, again?
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The 40% is on coverage in excess of a certain amount. Few people get that much. This is essentially a tax on the rich, not everyone.
 
misterman said:
The 40% is on coverage in excess of a certain amount. Few people get that much. This is essentially a tax on the rich, not everyone.
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You didn't even read the info, did you?
 
Redress said:
You did not even bother to comprehend what he wrote, did you?
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Yes I did and he's completely wrong. Do you have insurance? How much coverage do you have?
 
apdst said:
Yes I did and he's completely wrong. Do you have insurance? How much coverage do you have?
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It's actually not on "coverage" its on the premiums paid for that coverage.
 
misterman said:
Yes, I did. How am I wrong?
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You say that the excise tax is just for the rich. The tax is on coverage in excess of $8,500. That's about half the coverage of a major medical policy. That's less coverage that Average Joe has on your garden variety health policy. Even my half ass, $200 a month policy has $20,000 in coverage. So, how does this excise tax only apply to the rich?

How much coverage do you have?
 
apdst said:
Again, you failed to read the information prvided for you.
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I did read it. Your information is wrong.

In fact, the tax would be on employers paying those premiums, not on individuals getting the coverage!

So you're even wronger than you knew.
 
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misterman said:
I did read it. Your information is wrong.
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Post the info that proves it wrong. Redress is big on proving yourself right, she'll be anxious to see you do so. She and I will be waiting with baited breath.
 
apdst said:
Post the info that proves it wrong. Redress is big on proving yourself right, she'll be anxious to see you do so. She and I will be waiting with baited breath.
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The Senate Democratic bill:

WHO'S COVERED: The Senate Finance version covered an estimated 94 percent of Americans. Illegal immigrants would not receive government benefits.

COST: Senate leaders aim to keep it under $900 billion over 10 years.

HOW IT'S PAID FOR: Fees on insurance companies, drug makers, medical device manufacturers. Tax levied on insurance companies, equal to 40 percent of total premiums paid on insurance plans costing more than $8,000 annually for individuals and $21,000 for families (that number may rise to $23,000); retirees over age 55 and people in high-risk professions may be allowed to have somewhat more valuable plans before they're taxed. Cuts to Medicare and Medicaid. A fee on employers whose workers receive government subsidies to help them pay premiums. Fines on people who fail to purchase coverage.

The Associated Press: Details on health care bills in House, Senate
 
misterman said:
The Senate Democratic bill:

WHO'S COVERED: The Senate Finance version covered an estimated 94 percent of Americans. Illegal immigrants would not receive government benefits.

COST: Senate leaders aim to keep it under $900 billion over 10 years.

HOW IT'S PAID FOR: Fees on insurance companies, drug makers, medical device manufacturers. Tax levied on insurance companies, equal to 40 percent of total premiums paid on insurance plans costing more than $8,000 annually for individuals and $21,000 for families (that number may rise to $23,000); retirees over age 55 and people in high-risk professions may be allowed to have somewhat more valuable plans before they're taxed. Cuts to Medicare and Medicaid. A fee on employers whose workers receive government subsidies to help them pay premiums. Fines on people who fail to purchase coverage.

The Associated Press: Details on health care bills in House, Senate
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LOL...who do you think is really going to pay that 40% excise tax? Do you honestly believe that the insurance companies et. al. are just going to take that money out of their pockets and not worry about recouping that money?...:rofl

Please, tell me you're not serious!
 
apdst said:
LOL...who do you think is really going to pay that 40% excise tax? Do you honestly believe that the insurance companies et. al. are just going to take that money out of their pockets and not worry about recouping that money?...:rofl

Please, tell me you're not serious!
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I proved you wrong, can't you just admit it?
 
misterman said:
I proved you wrong, can't you just admit it?
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No you didn't! Who pays sales tax on groceries? Who pays excise tax on tires? It ain't the people who sell them.

I'm glad you posted that link though, because I lifted this little tid-bit:

REQUIREMENTS FOR INDIVIDUALS: Individuals must have insurance, enforced through a tax penalty of 2.5 percent of income. People can apply for hardship waivers if coverage is unaffordable.
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I'm just going to pay the 2.5% tax, which will be half+ what it costs to buy a policy and I'm going to go to the hospital anytime I want. It's not going to take long for folks to start gaming the system like that.
 
apdst said:
No you didn't! Who pays sales tax on groceries? Who pays excise tax on tires? It ain't the people who sell them.
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You thought it was a tax directly on individual coverage. It's not.

Now that we've settled that, there are two things that will happen. Either companies will stop offering plans that cost more than this amount, or they will pass it on to consumers. But so what? These plans are the "Cadillac" plans. The tax will only affect the wealthiest people.
 
misterman said:
You thought it was a tax directly on individual coverage. It's not.
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But, at the end of the day, the excise tax is going to pass on to the consumer.

Now that we've settled that, there are two things that will happen. Either companies will stop offering plans that cost more than this amount, or they will pass it on to consumers. But so what? These plans are the "Cadillac" plans. The tax will only affect the wealthiest people.
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Now, why would insurance companies do something that stupid? They don't care if you have 40% added to the cost of your insuranc policy.

And $8,000 policy is a, "cadillac", plan? What fantasy world do you live in?
 
apdst said:
But, at the end of the day, the excise tax is going to pass on to the consumer.
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It's either going to end such plans, or pass off the tax to the companies providing the insurance and paying the premiums, not really consumers.

Now, why would insurance companies do something that stupid? They don't care if you have 40% added to the cost of your insuranc policy.
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The employers do. They're the ones who would have the tax passed on to them. So they would decline to buy that coverage.

And $8,000 policy is a, "cadillac", plan? What fantasy world do you live in?
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Not my words. But yes, $8,000 a year in premiums for an individual is pretty high. You have finally figured out that this is about premiums, not "coverage" right?
 
misterman said:
I proved you wrong, can't you just admit it?
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That's not going to happen. aspdt still has not admitted he was wrong when he called Rand a "liberal think tank".
 
Redress said:
That's not going to happen. aspdt still has not admitted he was wrong when he called Rand a "liberal think tank".
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Oh, dear God.
 
Redress said:
That's not going to happen. aspdt still has not admitted he was wrong when he called Rand a "liberal think tank".
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And, that has what to do with the topic? Oh, nothing, but that's never stopped you before.;)
 
apdst said:
And, that has what to do with the topic? Oh, nothing, but that's never stopped you before.;)
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Keeps me from wasting my time though.
 
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