The tax increases of the Reid plan on ObamaCare

apdst · 11-19-09, 12:13 PM

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?

Quote:

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

misterman · 11-19-09, 12:32 PM

Quote:

Originally Posted by apdst

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?

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.

apdst · 11-20-09, 09:54 AM

Quote:

Originally Posted by misterman

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.

You didn't even read the info, did you?

Redress · 11-20-09, 10:01 AM

Quote:

Originally Posted by apdst

You didn't even read the info, did you?

You did not even bother to comprehend what he wrote, did you?

apdst · 11-20-09, 10:08 AM

Quote:

Originally Posted by Redress

You did not even bother to comprehend what he wrote, did you?

Yes I did and he's completely wrong. Do you have insurance? How much coverage do you have?

misterman · 11-20-09, 10:26 AM

Quote:

Originally Posted by apdst

You didn't even read the info, did you?

Yes, I did. How am I wrong?

misterman · 11-20-09, 10:27 AM

Quote:

Originally Posted by apdst

Yes I did and he's completely wrong. Do you have insurance? How much coverage do you have?

It's actually not on "coverage" its on the premiums paid for that coverage.

apdst · 11-20-09, 10:29 AM

Quote:

Originally Posted by misterman

Yes, I did. How am I wrong?

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 · 11-20-09, 10:31 AM

Quote:

Originally Posted by misterman

It's actually not on "coverage" its on the premiums paid for that coverage.

Again, you failed to read the information prvided for you.

Quote:

40% excise tax on health coverage in excess of $8,500

misterman · 11-20-09, 10:32 AM

Quote:

Originally Posted by apdst

Again, you failed to read the information prvided for you.

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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