1. While half of the costs for Obamacare are stolen from Medicare, the other half will come from increases in taxes. The Obamacare tax increases will total $503 billion between 2010 and 2019. JCX-17-10
a. There are taxes on investments, and on higher-income taxpayers. Small businesses will be burdened with mountains of paperwork (IRS reports of any sum over $600 per vendor designed to catch tax cheats, and raise $17 billion over ten years).
b. But most of the PPACA taxes will be related to health care, and as such, will affect all Americans. An example, is the limitation on the Blue Cross/Blue Shield special tax deduction. Who so you suppose will be paying that increase? Based on a research study commissioned by the Blue Cross Blue Shield Association, we believe that premiums will increase as a result of provisions in the reform legislation that will guarantee richer levels of benefits Blue Cross Blue Shield
c. Health care spending accounts, presently tax-favored, there will be an increased 20% tax penalty (double what is was) if you purchase goods disallowed by the law, including a new tax on brand name drugs. Companies providing medical devices and insurance will see new taxes that will assuredly be passed on to consumers.
d. Most of the new taxes kick in after the election including an increase in the Medicare payroll tax from 2.9 to 3.8%, if you and your spouse earn over $250,000. And a new 3.8% tax on unearned or investment income, if you reach a certain income threshold: stocks, bonds, dividends, rents and even the sale of your home! http://everythinghealthcare.wordpress.com/2010/
e. CBO states Medicare taxes will account for $210 billion in additional federal revenue between 2010 and 2019. Baker Hostetler | News / Resources | Health Law Update
f. In 2018, there will be a tax on Cadillac high-value policies, @ $10,200/ individual and $27, 500/ families, the insurance company will pay an excise tax of 40% on any thing above that, and this is expected to raise $32 billion during the first two years alone. Care to guess what will happen to premiums?
And, in a related story:
2. White House has diverted $500M to IRS to implement healthcare law
By Sam Baker - 04/09/12 05:15 AM ET
The Obama administration is quietly diverting roughly $500 million to the IRS to help implement the presidents healthcare law.
The money is only part of the IRSs total implementation spending, and it is being provided outside the normal appropriations process. The tax agency is responsible for several key provisions of the new law, including the unpopular individual mandate.
White House has diverted $500M to IRS to implement healthcare law - The Hill's Healthwatch
a. There are taxes on investments, and on higher-income taxpayers. Small businesses will be burdened with mountains of paperwork (IRS reports of any sum over $600 per vendor designed to catch tax cheats, and raise $17 billion over ten years).
b. But most of the PPACA taxes will be related to health care, and as such, will affect all Americans. An example, is the limitation on the Blue Cross/Blue Shield special tax deduction. Who so you suppose will be paying that increase? Based on a research study commissioned by the Blue Cross Blue Shield Association, we believe that premiums will increase as a result of provisions in the reform legislation that will guarantee richer levels of benefits Blue Cross Blue Shield
c. Health care spending accounts, presently tax-favored, there will be an increased 20% tax penalty (double what is was) if you purchase goods disallowed by the law, including a new tax on brand name drugs. Companies providing medical devices and insurance will see new taxes that will assuredly be passed on to consumers.
d. Most of the new taxes kick in after the election including an increase in the Medicare payroll tax from 2.9 to 3.8%, if you and your spouse earn over $250,000. And a new 3.8% tax on unearned or investment income, if you reach a certain income threshold: stocks, bonds, dividends, rents and even the sale of your home! http://everythinghealthcare.wordpress.com/2010/
e. CBO states Medicare taxes will account for $210 billion in additional federal revenue between 2010 and 2019. Baker Hostetler | News / Resources | Health Law Update
f. In 2018, there will be a tax on Cadillac high-value policies, @ $10,200/ individual and $27, 500/ families, the insurance company will pay an excise tax of 40% on any thing above that, and this is expected to raise $32 billion during the first two years alone. Care to guess what will happen to premiums?
And, in a related story:
2. White House has diverted $500M to IRS to implement healthcare law
By Sam Baker - 04/09/12 05:15 AM ET
The Obama administration is quietly diverting roughly $500 million to the IRS to help implement the presidents healthcare law.
The money is only part of the IRSs total implementation spending, and it is being provided outside the normal appropriations process. The tax agency is responsible for several key provisions of the new law, including the unpopular individual mandate.
White House has diverted $500M to IRS to implement healthcare law - The Hill's Healthwatch
