Health care mandate is a tax; more taxes coming

Discussion in 'Healthcare/Insurance/Govt Healthcare' started by American_Jihad, Jun 28, 2012.

  1. American_Jihad
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    American_Jihad Flaming Libs/Koranimals

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    Health care mandate is a tax; more taxes coming

    6/28/12 By Kathy Kristof

    (MoneyWatch) COMMENTARY The Supreme Court's healthcare ruling may well turn your friendly neighborhood tax collector suicidal. The ruling effectively says that federal government can't force you to buy something, but can tax you if you don't. Thus, any future expansion of government's reach into your personal decision making will likely be done through the tax code.
    That turns the Internal Revenue Service into Big Brother. Frankly, IRS agents probably like that less than you do.


    Of course, the tax code already provides a Christmas tree of benefits and baubles for those who act as the government deems proper. Finance a home, you get a tax deduction. Have children. Send them to daycare, then to college...tax breaks will follow. Throw out that gas guzzler and buy a hybrid, the tax authorities will reward you. Replace the water heater; cover those windows; go solar. You'll be showered in tax credits. Even the right investments -- stocks versus bonds; long-term vs. short-term gains -- will nab you breaks on your federal tax bill.

    ---

    The health care law extends that formula by boosting the tax rate of high income filers to help pay for the law. There are a series of tax increases that are scheduled to take effect next year, says Tim Steffen, director of financial planning with Robert W. Baird & Co. in Milwaukee. As the result of the Supreme Court decision, all of them are likely to take effect.

    They are:

    A new 3.8% tax on investment income will be applied to those earning more than $200,000 single or $250,000 when married. The tax will effectively boost the applicable capital gains rate on any investment income that's claimed when total income exceeds those thresholds.

    Medicare taxes on high income filers will also increase. Currently, everyone pays 1.45% on all income into the Medicare program. Now, if a single filer earns more than $200,000 or a married couple earns more than $250,000, they'll need to pay 2.35% into Medicare.

    Finally, the law makes it harder to deduct medical expenses. Currently medical expenses are deductible once they exceed 7.5% of your adjusted gross income. Next year, the threshold will be raised to 10% of AGI.

    Health care mandate is a tax; more taxes coming - CBS News

     
    Last edited by a moderator: Aug 18, 2014
  2. Lakhota
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    Lakhota Diamond Member

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    Yes, the end is near. I'm doing stretch exercises so I can kiss my ass goodbye.
     
  3. CaféAuLait
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    From CBS no less.

    And CNN even says this is a tax and that the democrats tried to pull a fast one:

    Court's ruling a 'Frankenstein's Monster' - CNN.com
     
  4. American_Jihad
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    June 28, 2012 is a day that will live in infamy. It was a day that America officially became a socialist nation. It was a day that marked the end of freedom as we know it.

    Ruling 5-4 to uphold ObamaCare, the Supreme Court of the United States gave the Federal Government unlimited power over our individual lives. As a result, the quality of our healthcare and the freedom to choose our doctors and hospitals has been stripped. This decision also sets the dangerous precedent for future government take-overs of our lives.

    Thankfully, True Patriots do not believe in giving in or giving up. Let the truth about the Supreme Court's tyrannical decision be known with the 2012 VOTE.

    TEA PARTY
    patriotdepot.com
     
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  5. American_Jihad
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    Chief Justice Roberts has given Mitt Romney a key attack: The president is a tax-and-spend liberal bent on expanding government to unprecedented levels. And the presumed Republican nominee knows it: “If we want to get rid of Obamacare, we’re going to have to replace President Obama,” he said from a rooftop in Washington overlooking the Capitol. “What the court did not do on its last day in session, I will do on my first day if elected president.”
    Mr. Obama, of course, gloated about the win.

    “The highest Court in the land has now spoken,” he said. Indeed it has: And a majority of the justices are calling your “fee” a “tax.”

    So, for Campaign 2012, it’s game on. And for his part, Mr. Fleischer regained his pithy pundacity after digesting the high court’s ruling. “Mitt Romney will appeal this decision to the American people on November 6th. Oral arguments are already taking place.”

    CURL: Roberts to the rescue for Romney - Washington Times
     
  6. American_Jihad
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    American_Jihad Flaming Libs/Koranimals

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  7. Big Fitz
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    Big Fitz User Quit *****

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    Yes, I can imagine you would find it difficult to pull your head out far enough to kiss it.
     
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    Roberts handed Barry a big headache.

    He also handed Romney and the GOP a big assed gift.
     
  9. Contumacious
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    Yep and we can thanks a so-called "conservative" for that:

    [​IMG]

    Proving once again that there is no difference between conservatism and liberalism. They are both socialists.

    .
     
    Last edited: Jul 2, 2012
  10. American_Jihad
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