Thread: New Taxes for Health Care Help Obama ‘Spread the Wealth Around’

New Taxes for Health Care Help Obama ‘Spread the Wealth Around’

In all, the bill would generate $409.2 billion in additional taxes by 2019, according to an analysis by the congressional Joint Committee on Taxation, a nonpartisan agency. The bill also imposes about $69 billion more in penalties for individuals and businesses who don’t meet mandates to buy insurance, according to the Congressional Budget Office, another nonpartisan agency.



Higher Medicare Taxes



Most of the revenue would come from higher Medicare taxes on about 1 million individuals earning more than $200,000 and about 4 million couples filing jointly who make more than $250,000.



The legislation would for the first time apply Medicare taxes to investment income received by these households beginning in 2013. The 3.8 percent rate would apply to unearned income such as realized capital gains, dividends, interest, rents, and royalties. It wouldn’t apply to other income subject to income taxes, including interest from municipal bonds and retirement accounts such as 401(k) plans until funds are withdrawn.

No way, ask some of the "enlightened" political annalist's on PH, it not a new tax......





Every penny spent is a penny from the economy, and if i know that, then they know that.

[quote name='Pragmatist' date='22 March 2010 - 09:53 AM' timestamp='1269276826' post='131566']

Yeah, raising taxes on roughly 5 million individuals. There are another 295 million that won't have their taxes raised and that includes you. Quit your bitching your taxes ain't going up.

[/quote]

Starting early?

In all, the bill would generate $409.2 billion in additional taxes by 2019, according to an analysis by the congressional Joint Committee on Taxation, a nonpartisan agency. The bill also imposes about $69 billion more in penalties for individuals and businesses who don’t meet mandates to buy insurance, according to the Congressional Budget Office, another nonpartisan agency.

Your going to generate that on 5% of the population???

Most of the revenue would come from higher Medicare taxes on about 1 million individuals earning more than $200,000 and about 4 million couples filing jointly who make more than $250,000.

lets do some math....4 million couples....thats eight million plus children...then another million, thats 9 million less children.

The legislation would for the first time apply Medicare taxes to investment income received by these households beginning in 2013. The 3.8 percent rate would apply to unearned income such as realized capital gains, dividends, interest, rents, and royalties. It wouldn’t apply to other income subject to income taxes, including interest from municipal bonds and retirement accounts such as 401(k) plans until funds are withdrawn.

then anyone paying Medicare taxes will get clipped....rent out a home, get clipped...interest from 401, get clipped...capitol gains, get clipped....Gee Prag, just going from the facts, facts that you missed...

The bill also increases the individual’s share of Medicare tax currently imposed on salaries starting at $200,000 for individuals and $250,000 for couples to 2.35 percent, from 1.45 percent currently.

middle class, well get clipped.

The Medicare taxes superseded an earlier Senate proposal to tax high-value employer-provided insurance coverage, dubbed “Cadillac plans.� That 40 percent excise tax was delayed until 2018, when it would begin to apply to benefits over $10,200 for individuals and $27,500 for couples.

want nice insurance, well they have a way to demonize you, and tax you...cool stuff hey??

Other provisions likely to affect higher-income individuals would scale back tax preferences associated with paying out-of- pocket medical expenses. Starting in 2013, Americans under 65 won’t be able to deduct medical expenses until they exceed 10 percent of income, up from 7.5 percent now; retirees would keep the lower threshold.

...no deductions for those who can pay medical costs out of pocket, well i personally know someone that will be effected by this...

The bill in 2011 places new restrictions on what can be purchased using special savings accounts funded with pre-tax dollars including health savings accounts. Improper withdrawals from the accounts also would be hit with a new 20 percent tax.

...save money for medical emergencies, well you can only have so much of it, and get taxed....

Consumers who frequent tanning salons would pay a 10 percent excise tax, and those who buy devices such as wheelchairs would pay a 2.9 percent excise tax. Drugmakers may pass on a $3 billion annual fee. Insurers would be denied deductions for executive pay over $500,000.

....thats just too goofy to comment on.

Employers with 50 or more workers would pay $2,000 per worker if they don’t offer health insurance. The legislation offers a small business tax credit to help pay for employer- provided premiums.

it is obvious that your reading skills are selective, but the taxes aren't!!!

[quote name='Pragmatist' date='22 March 2010 - 11:18 AM' timestamp='1269281928' post='131590']

90% of what you are saying makes no sense whatsoever, I'm not wasting my time.

[/quote]

No, Prag, it makes no sense to you, but it is all spelled out. Your going to be taxed out of a job...good grief!

[quote name='Pragmatist' date='22 March 2010 - 12:53 PM' timestamp='1269276826' post='131566']

Yeah, raising taxes on roughly 5 million individuals. There are another 295 million that won't have their taxes raised and that includes you. Quit your bitching your taxes ain't going up.[/quote]



Anybody running a sole proprietorship who is not currently insured will have their taxes raised. Most of those folks make under $50,000.