How much new taxes will I pay under the Patient Affordable Care Act?

[Quantum Windbag]

How much of it will show up on the "total tax" line of my 1040? Its zero dollars so far.


I don't have all that information for 2012. Unlike you, I can't predict the future.

But based on my 2011 information - I would owe NO NEW TAXES under ObamaCare. This flies in the face of the lie that it is a tax increase on the middle class. Its simply not.

Great. When you've got specifics that will affect me rather than just vague notions I should be very afraid of and Obama Bad Bad Bad!, let me know.

Show me your 2011 numbers and I will show you how much Obamacare will increase your taxes assuming that nothing in your income or deductions changes in 2014 when all the taxes actually kick in.

Can you give a general number for someone making 100,000? I'd like to know this too.

I don't pretend to be a tax expert, I don't do wild guesses.

 

[Quantum Windbag]

Also, I thought the tax part of the bill was the penalty for not carrying insurance. No?

No, there are dozens of different taxes in the law.

 

[Quantum Windbag]

How much will you save by having obamacare in medical cost?

Last time I did the math that came to $852.36 a year. That was a combination of the increase in premiums because the plan I prefer no longer exists and the new added coverage requirements, that was also before Obama decided I need to worry about the fact that my girlfriend might want the Pill even though she has less chance of getting pregnant than I do.

 

[Quantum Windbag]

The right claims I will pay more taxes under the the Patient Affordable Care Act. So far they've failed to show me one I'd actually have to pay.

My wife and I file joint income of just over 100k. We have health insurance. We don't use tanning beds.

So which new taxes will I pay?

er... zero.

it only affects the leeches who can afford to pay for insurance but think we should carry them when they need health care.

The new Medicare tax only affects people who don't have insurance? The cap on FSAs only affects people who don't have FSAs? The fact that people who itemize have a higher threshold only applies if they also don't have insurance?

Would you mind showing me what part of the PPACA you pulled that one from?

 

[chanel]

[ame=http://www.youtube.com/watch?v=ixRRuzmxzTg&feature=player_embedded]WSJ Chief Economist: 75% of Obamacare Costs Will Fall on Backs of Those Making $120K or Less - YouTube[/ame]

 

[OohPooPahDoo]

I don't know what your financials are and I don't care. You're trying to push the notion you won't be paying more in taxes. I laid it out for you.....you'll be paying your share of a $102.3 billion tax bill proxied through the insurance industry.

How much of it will show up on the "total tax" line of my 1040? Its zero dollars so far.


I don't have all that information for 2012. Unlike you, I can't predict the future.

But based on my 2011 information - I would owe NO NEW TAXES under ObamaCare. This flies in the face of the lie that it is a tax increase on the middle class. Its simply not.

Massive tax increases are coming. Taxation by proxy doesn't involve a 1040, it just requires a staff of 3000 employees and a million dollar computer system to track it all.

Great. When you've got specifics that will affect me rather than just vague notions I should be very afraid of and Obama Bad Bad Bad!, let me know.

Show me your 2011 numbers and I will show you how much Obamacare will increase your taxes assuming that nothing in your income or deductions changes in 2014 when all the taxes actually kick in.

I just got a big raise. We also were eligible for a bonus depreciation on our rental in 2011, allowing us to deduct 25k from our income. Our 2011 numbers don't reflect what our typical tax year will be. On paper, our taxable income was only like 43k. Given that income, we would probably be eligible for LESS taxes under Obamacare. But because it was an atypical tax year for us, it wouldn't be an accurate measure of what the difference is going forward.

2012 our income will be 103k, gross. Joint filing. 1 child. Far as I can tell - standard deduction. (half our mortgage interest is deductible as a business expense so even with the other half, we come in under the standard deduct). Our single rental will about break even.

What else to you need to know?

 

[OohPooPahDoo]

The new Medicare tax only affects people who don't have insurance?

It only affects people making over 200k/250k a year.

The cap on FSAs only affects people who don't have FSAs?

Only if they are already above the cap of 2500k.

The fact that people who itemize have a higher threshold only applies if they also don't have insurance?

Only applies to people with exceptionally high out of pocket medical expenses - which won't apply to many people at all since everyone will be required to have health insurance.

Would you mind showing me what part of the PPACA you pulled that one from?

Would you mind showing me the tax that I will have to pay?



BTW - I like how when the right wing eliminates a tax loophole its "fiscal responsibility" but when the left does it, its a 'tax hike on the middle class'.

 

[chanel]

We still don't know what "taxmageddon" will bring in 2013 if the Bush tax cuts are not renewed.

Those "filthy rich small businesses" making over $250K will be hit from all sides. Might behoove many to downsize.

So much uncertainty. Not good for the economy.

 

[OohPooPahDoo]

We still don't know what "taxmageddon" will bring in 2013 if the Bush tax cuts are not renewed.

Those "filthy rich small businesses" making over $250K will be hit from all sides. Might behoove many to downsize.

So much uncertainty. Not good for the economy.

Why would it behoove them to downsize?

 

[Procrustes Stretched]

How much in taxes will a few percent of deadbeat citizens pay? wtf cares? They suck off the tit of the federal and state governments who pick up the tab... governments = the people

 

[Jackson]

The people they are now calling leeches, are a lot of you young people and who voted for Obama, but don't feel you need insurance at this point in your life..

NOW you will be FORCED to buy it or be FINED..

give you the warm and fuzzies, doesn't it

Not fined Taxed a fine would imply you had to buy something and you didn't the courts ruled against that.

You don't have to buy car insurance either but you'll get dinged if you are at fault in an accident.

You CHOOSE to have a car and you HAVE to have liability insurance.

 

[francoHFW]

Romneycare a great success, none of the PUB doom and gloom.

--------------------------------------------------------------------------------

Frontline said cost rises are now 2%, easily the lowest in the USA. So change the channel...

For this reason he also provided for subsidies for individuals living below three times the federal poverty line to make insurance affordable. This “three-legged stool”—banning discrimination in insurance markets, mandating that individuals purchase insurance, and providing low-income subsidies for insurance purchase—became the basis for both our reform in Massachusetts and for the Affordable Care Act (ACA).

The enormous success of health-care reform in the almost six years since its passage in Massachusetts can make us more confident that this three-legged stool will work for the nation as a whole. We have covered about two-thirds of uninsured Massachusetts residents, and have lowered the premiums in the non-group market by half relative to national premium trends. And we have done so with broad public support. Moreover, this reform succeeded without interfering with the employer-sponsored insurance market that works for most of our residents: employer-sponsored insurance coverage has actually risen in Massachusetts, while falling sharply nationally, and the premiums for employer-sponsored insurance rose no faster in Massachusetts than they did nationally.

This was all possible because the individual mandate ended the “death spiral” of trying to obtain fairly priced insurance by just forcing insurers to charge everyone the same price. The bottom line is that we can’t have fairly priced insurance for the healthy and sick alike without the broad participation that is guaranteed by the mandate. The mandate is the spinach we have to eat to get the dessert that is fairly priced insurance coverage.

Actually, RomneyCare is an enormous success « Hot Air Headlines
Mar 27, 2012 ... Actually, RomneyCare is an enormous success. Into this chasm stepped the hero
of our story, Governor Mitt Romney, and his plan for ...

http://www.factcheck.org/2011/03/rom...nd-falsehoods/ - Cached

romneycare success - Google Search

 

[Katzndogz]

How much of it will show up on the "total tax" line of my 1040? Its zero dollars so far.


I don't have all that information for 2012. Unlike you, I can't predict the future.

But based on my 2011 information - I would owe NO NEW TAXES under ObamaCare. This flies in the face of the lie that it is a tax increase on the middle class. Its simply not.

Great. When you've got specifics that will affect me rather than just vague notions I should be very afraid of and Obama Bad Bad Bad!, let me know.

Show me your 2011 numbers and I will show you how much Obamacare will increase your taxes assuming that nothing in your income or deductions changes in 2014 when all the taxes actually kick in.

I just got a big raise. We also were eligible for a bonus depreciation on our rental in 2011, allowing us to deduct 25k from our income. Our 2011 numbers don't reflect what our typical tax year will be. On paper, our taxable income was only like 43k. Given that income, we would probably be eligible for LESS taxes under Obamacare. But because it was an atypical tax year for us, it wouldn't be an accurate measure of what the difference is going forward.

2012 our income will be 103k, gross. Joint filing. 1 child. Far as I can tell - standard deduction. (half our mortgage interest is deductible as a business expense so even with the other half, we come in under the standard deduct). Our single rental will about break even.

What else to you need to know?

Everytime you buy something, from the McD's burger to the flat screen, you are paying someone else's taxes.

 

[OohPooPahDoo]

Show me your 2011 numbers and I will show you how much Obamacare will increase your taxes assuming that nothing in your income or deductions changes in 2014 when all the taxes actually kick in.

I just got a big raise. We also were eligible for a bonus depreciation on our rental in 2011, allowing us to deduct 25k from our income. Our 2011 numbers don't reflect what our typical tax year will be. On paper, our taxable income was only like 43k. Given that income, we would probably be eligible for LESS taxes under Obamacare. But because it was an atypical tax year for us, it wouldn't be an accurate measure of what the difference is going forward.

2012 our income will be 103k, gross. Joint filing. 1 child. Far as I can tell - standard deduction. (half our mortgage interest is deductible as a business expense so even with the other half, we come in under the standard deduct). Our single rental will about break even.

What else to you need to know?

Everytime you buy something, from the McD's burger to the flat screen, you are paying someone else's taxes.

I wanted to know how much would show up on my own tax form, not how much the right decides to assign to me for political purposes.


I love how in one argument, business pays business taxes, and in another, business customers pay business taxes. Whatever is most convenient at the time. According to right wing morons like yourself, a $1 tax hike on a business is actually a $2 tax hike overall, since both the business and the customer are paying for it.

 

[Too Tall]

A large portion of the U.S. doesn't want to pay any taxes at all. Would Romney sign that into law?

Again Romney did what his liberal state wanted, he should do what the majority of America wants.

And abolish all taxes? Hmm. Ok. But I don't see how that will reduce the deficit. Why do you think it will?

Half of the wage earners don't pay any federal income tax now. The do pay for the two federal insurance programs, Soc Sec and Medicare, and the lower tax brackets get a 2% reduction in Soc Sec. I haven't heard of anyone that wants to abolish ALL taxes. Perhaps you have a link to enlighten me.

 

[NYcarbineer]

The right claims I will pay more taxes under the the Patient Affordable Care Act. So far they've failed to show me one I'd actually have to pay.

My wife and I file joint income of just over 100k. We have health insurance. We don't use tanning beds.

So which new taxes will I pay?

er... zero.

it only affects the leeches who can afford to pay for insurance but think we should carry them when they need health care.

The new Medicare tax only affects people who don't have insurance? The cap on FSAs only affects people who don't have FSAs? The fact that people who itemize have a higher threshold only applies if they also don't have insurance?

Would you mind showing me what part of the PPACA you pulled that one from?

The Medicare tax increase is on earnings over 200,000/250,000.

 

[NYcarbineer]

The right claims I will pay more taxes under the the Patient Affordable Care Act. So far they've failed to show me one I'd actually have to pay.

My wife and I file joint income of just over 100k. We have health insurance. We don't use tanning beds.

So which new taxes will I pay?

Figured mine, $0.00!

How will your State raise revenue for the added Medicaid burden?

Explain to us how that would work. In detail.

 

[chanel]

We still don't know what "taxmageddon" will bring in 2013 if the Bush tax cuts are not renewed.

Those "filthy rich small businesses" making over $250K will be hit from all sides. Might behoove many to downsize.

So much uncertainty. Not good for the economy.

Why would it behoove them to downsize?

They should consult a tax expert of course but it is feasible that staying under the 250K threshold will allow them to keep more money. So they might downsize. Or they might want to stay under 50 employees to avoid paying insurance. So downsize. Or they may have a plan that the govt doesnt like. So they may downsize.

Soaking the "rich" from every direction may not be such a great plan.

 

[OohPooPahDoo]

We still don't know what "taxmageddon" will bring in 2013 if the Bush tax cuts are not renewed.

Those "filthy rich small businesses" making over $250K will be hit from all sides. Might behoove many to downsize.

So much uncertainty. Not good for the economy.

Why would it behoove them to downsize?

They should consult a tax expert of course but it is feasible that staying under the 250K threshold will allow them to keep more money.

No it isn't. The income tax code isn't structured like that, and it doesn't take a tax expert to figure that out. You're a complete fucking moron.

 

[Quantum Windbag]

How much of it will show up on the "total tax" line of my 1040? Its zero dollars so far.


I don't have all that information for 2012. Unlike you, I can't predict the future.

But based on my 2011 information - I would owe NO NEW TAXES under ObamaCare. This flies in the face of the lie that it is a tax increase on the middle class. Its simply not.

Great. When you've got specifics that will affect me rather than just vague notions I should be very afraid of and Obama Bad Bad Bad!, let me know.

Show me your 2011 numbers and I will show you how much Obamacare will increase your taxes assuming that nothing in your income or deductions changes in 2014 when all the taxes actually kick in.

I just got a big raise. We also were eligible for a bonus depreciation on our rental in 2011, allowing us to deduct 25k from our income. Our 2011 numbers don't reflect what our typical tax year will be. On paper, our taxable income was only like 43k. Given that income, we would probably be eligible for LESS taxes under Obamacare. But because it was an atypical tax year for us, it wouldn't be an accurate measure of what the difference is going forward.

2012 our income will be 103k, gross. Joint filing. 1 child. Far as I can tell - standard deduction. (half our mortgage interest is deductible as a business expense so even with the other half, we come in under the standard deduct). Our single rental will about break even.

What else to you need to know?

If you have another untypical tax year you might end up paying higher taxes after 2014, and you will then have to admit I am right.