Why The Individual Mandate Is Not A ‘Massive Tax Hike’ On The Middle Class

Discussion in 'Politics' started by Lakhota, Jun 28, 2012.

  1. Lakhota
    Online

    Lakhota Gold Member

    Joined:
    Jul 14, 2011
    Messages:
    26,683
    Thanks Received:
    1,494
    Trophy Points:
    205
    Location:
    Native America
    Ratings:
    +2,017
    More: Why The Individual Mandate Is Not A 'Massive Tax Hike' On The Middle Class | ThinkProgress

    NOTE: The above link also contains live source links.
     
    • Thank You! Thank You! x 1
  2. Grampa Murked U
    Offline

    Grampa Murked U Gold Member

    Joined:
    Jun 13, 2011
    Messages:
    28,672
    Thanks Received:
    4,849
    Trophy Points:
    277
    Location:
    Kansas City
    Ratings:
    +5,489
    Troll detector is going off again.............
     
    • Thank You! Thank You! x 1
  3. WillowTree
    Offline

    WillowTree Senior Member

    Joined:
    Sep 15, 2008
    Messages:
    62,064
    Thanks Received:
    9,117
    Trophy Points:
    48
    Ratings:
    +9,118
    The biggest damn tax hike in the history of America. Democrats done good today.. vewy good.
     
  4. Listening
    Offline

    Listening Gold Member

    Joined:
    Aug 27, 2011
    Messages:
    13,249
    Thanks Received:
    1,427
    Trophy Points:
    205
    Ratings:
    +1,550
    The article is bullcrap.

    Places like Mayo are already dumping Medicare because they are losing money. The only way they make it up is by cutting salaries.

    I know far to many young people who have decided not to go to medical school because of this mess. We are already headed for a shortage of doctors because of the AMA,s miscalculations. It is only going to get worse.

    You guys just bought us a two-tier medical system.

    Great job !
     
  5. Lakhota
    Online

    Lakhota Gold Member

    Joined:
    Jul 14, 2011
    Messages:
    26,683
    Thanks Received:
    1,494
    Trophy Points:
    205
    Location:
    Native America
    Ratings:
    +2,017
    Okay, then please provide proof of your claim. I provided proof that it isn't.
     
  6. Listening
    Offline

    Listening Gold Member

    Joined:
    Aug 27, 2011
    Messages:
    13,249
    Thanks Received:
    1,427
    Trophy Points:
    205
    Ratings:
    +1,550
    That isn't proof dickhead. It is an unsupported article.

    The 3.1% payroll cut was for an existing tax. Not a new one. This guy is a spin doctor...and not a very good one.
     
    Last edited: Jun 28, 2012
  7. Jackson
    Offline

    Jackson Gold Member Supporting Member

    Joined:
    Dec 31, 2010
    Messages:
    8,549
    Thanks Received:
    2,435
    Trophy Points:
    245
    Location:
    Nashville
    Ratings:
    +2,761
    Q: How much will the “tax” penalty be for going without health insurance?


    A: The minimum assessment will be $695 per person (but no more than $2,085 per family) in 2016, when fully phased in. The amount can be higher depending on income. But there are exemptions for low-income persons and others.

    Fact Check

    Maybe you are in the $2,085 or higher category..

    We haven't even addressed the shortage of doctors or rationed care. Those with money can get the best care and of course, Congress is exempted.
     
    Last edited: Jun 28, 2012
  8. HomeInspect
    Offline

    HomeInspect Senior Member

    Joined:
    Feb 26, 2012
    Messages:
    1,258
    Thanks Received:
    205
    Trophy Points:
    48
    Location:
    Maryland
    Ratings:
    +205
    This November's election just became all about Obamacare. Tell me something. If the government can't force me to eat broccolli, but can tax me if I don't, how is this any different?
     
    • Thank You! Thank You! x 1
  9. Lakhota
    Online

    Lakhota Gold Member

    Joined:
    Jul 14, 2011
    Messages:
    26,683
    Thanks Received:
    1,494
    Trophy Points:
    205
    Location:
    Native America
    Ratings:
    +2,017
    Link?
     
  10. WillowTree
    Offline

    WillowTree Senior Member

    Joined:
    Sep 15, 2008
    Messages:
    62,064
    Thanks Received:
    9,117
    Trophy Points:
    48
    Ratings:
    +9,118
    The Biggest Tax Increase In U.S. History? - Forbes.com
     
  11. GuyPinestra
    Offline

    GuyPinestra Senior Member

    Joined:
    Jan 29, 2012
    Messages:
    6,907
    Thanks Received:
    667
    Trophy Points:
    48
    Ratings:
    +667
    And you don't think those higher payroll taxes will get passed on from the business to the consumer? That would be a first, don't you think?

    And aiming significant tax increases at upper-income Americans really reeks of more class warfare, a tactic liberal Democrats have gotten entirely too good at.
     
  12. Lakhota
    Online

    Lakhota Gold Member

    Joined:
    Jul 14, 2011
    Messages:
    26,683
    Thanks Received:
    1,494
    Trophy Points:
    205
    Location:
    Native America
    Ratings:
    +2,017
  13. NYcarbineer
    Online

    NYcarbineer Gold Member

    Joined:
    Mar 10, 2009
    Messages:
    48,220
    Thanks Received:
    4,402
    Trophy Points:
    245
    Ratings:
    +5,266
    I want to hear how your taxes get raised, you old bat.

    Willowtree's revelation today that she's an old hag on Medicare and SS just makes her posts all the more hilarious.
     
  14. HomeInspect
    Offline

    HomeInspect Senior Member

    Joined:
    Feb 26, 2012
    Messages:
    1,258
    Thanks Received:
    205
    Trophy Points:
    48
    Location:
    Maryland
    Ratings:
    +205
    Exactly ! This might be the biggest job killing bill in American history
     
  15. WillowTree
    Offline

    WillowTree Senior Member

    Joined:
    Sep 15, 2008
    Messages:
    62,064
    Thanks Received:
    9,117
    Trophy Points:
    48
    Ratings:
    +9,118
    • Thank You! Thank You! x 1
  16. WillowTree
    Offline

    WillowTree Senior Member

    Joined:
    Sep 15, 2008
    Messages:
    62,064
    Thanks Received:
    9,117
    Trophy Points:
    48
    Ratings:
    +9,118
    and the fact that obamatax steal 500 billion dollars from medicare,, i bet that makes you laugh too. you smelly old fart.
     
    • Thank You! Thank You! x 1
  17. Leweman
    Offline

    Leweman Silver Member

    Joined:
    Aug 5, 2010
    Messages:
    3,654
    Thanks Received:
    438
    Trophy Points:
    98
    Ratings:
    +439
    So none of these taxes exist or will exist?



    2010 Tax on Innovator Drug Companies: $2.3 billion annual tax on the industry imposed relative to share of sales made that year. $22.2 Billion

    2010 Excise Tax on Charitable Hospitals: $50,000 per hospital if they fail to meet new "community health assessment needs," "financial assistance," and "billing and collection" rules set by HHS.

    2010 Blue Cross/Blue Shield Tax Hike: The special tax deduction in current law for Blue Cross/Blue Shield companies would only be allowed if 85 percent or more of premium revenues are spent on clinical services. $0.4 Billion

    2010 Tax on Indoor Tanning Services: New 10 percent excise tax on Americans using indoor tanning salons. $2.7 Billion

    2010 “Black liquor” tax Credit. This is a tax increase on a type of bio-fuel. This substance, a wood-pulping byproduct, is utilized as a biofuel to generate electricity for paper-making companies throughout the U.S $23.6 Billion

    2010 Codification of the “economic substance doctrine”. This provision allows the IRS to disallow completely-legal tax deductions and other legal tax-minimizing plans just because the IRS deems that the action lacks “substance” and is merely intended to reduce taxes owed. $4.5 Billion

    2011 Medicine Cabinet Tax: Americans no longer able to use health savings account (HSA), flexible spending account (FSA), or health reimbursement (HRA) pre-tax dollars to purchase non-prescription, over-the-counter medicines (except insulin). $5 Billion

    2011 Employer Reporting of Insurance on W-2: Preamble to taxing health benefits on individual tax returns.

    2011 Increase penalty for nonqualified HSA distributions. $1.4 Billion

    2011 Annual tax on drug manufacturers / importers. $27 Billion

    2012 Corporate 1099-MISC Information Reporting: Requires businesses to send 1099-MISC information tax forms to corporations (currently limited to individuals), a huge compliance burden for small employers. $17.1 Billion

    2013 Increase In Medicare Payroll Tax (For single employees making over $200,000/year and married employees making over $250,000/year): Payroll Tax currently at 1.45% increases to 2.9%. Self-employed tax is increased to 3.8%. $86.8 Billion

    2013 Surtax on Other Investment Income: A new, 3.8 percent surtax on "Other" investment income earned in households making at least $250,000 ($200,000 single). Taxes are increased from 39.6% to 43.4% Other unearned income includes (for surtax purposes) gross income from interest, annuities, royalties, net rents, and passive income in partnerships and Subchapter-S corporations. It does not include municipal bond interest or life insurance proceeds, since those do not add to gross income. It does not include active trade or business income, fair market value sales of ownership in pass-through entities, or distributions from retirement plans. The 3.8% surtax does not apply to non-resident aliens. It DOES however, include the sale of your home. $123 Billion

    2013 Flexible Spending Account Cap – aka “Special Needs Kids Tax”: Imposes cap of $2500 (Indexed to inflation after 2013) on FSAs (now unlimited). . There is one group of FSA owners for whom this new cap will be particularly cruel and onerous: parents of special needs children.

    There are thousands of families with special needs children in the United States, and many of them use FSAs to pay for special needs education.

    Tuition rates at one leading school that teaches special needs children in Washington, D.C. (National Child Research Center) can easily exceed $14,000 per year. Under tax rules, FSA dollars can be used to pay for this type of special needs education. $13 Billion

    2013 Tax on Medical Device Manufacturers: Medical device manufacturers employ 360,000 people in 6000 plants across the country. This law imposes a new 2.3% excise tax. Exemptions include items retailing for less than $100. $20 Billion

    2013 Raise "Haircut" for Medical Itemized Deduction from 7.5% to 10% of AGI: Currently, those facing high medical expenses are allowed a deduction for medical expenses to the extent that those expenses exceed 7.5 percent of adjusted gross income (AGI). The new provision imposes a threshold of 10 percent of AGI; it is waived for 65+ taxpayers in 2013-2016 only. $15.2 Billion

    2013 Elimination of tax deduction for employer-provided retirement Rx drug coverage in coordination with Medicare Part D. $4.5 Billion

    2013 $500,000 Annual Executive Compensation Limit for Health Insurance Executives. $0.6 Billion

    2013 Limit deduction for remuneration to officers, employees, directors, and service providers of certain health insurance providers. $0.6 Billion

    2013 Impose fee on insured and self-insured health plans; patient-centered outcomes research trust fund. $2.6 Billion

    2014 Individual Health Insurance Mandate:
    Starting in 2014, you will be required to obtain qualified health insurance for yourself and any dependants or pay a penalty for every month you are not covered. You are allowed a coverage gap of less than 90 days every year.

    The penalty begins in 2014 and phases up to its maximum amount in 2016. You will either have to pay a set dollar amount of $695 per year (adjusted for inflation) or 2.5% of your base household income, whichever is higher. Your base income is defined as any amount over the filing threshold for the applicable tax year.

    The penalty is assessed for every person in your house who does not have insurance up to a cap of 300 percent of the set dollar amount. In 2016, this cap would be $2,085. If you are a dependent under 18, your set dollar amount is cut in half.
    If you are required to pay a penalty but fail to do so, you will receive a notice from Internal Revenue Service (IRS). If you still fail to pay, the IRS can reduce the amount of your future tax refunds by the amount owed. However, if you fail to pay you will not be subject to criminal penalties and the Secretary cannot file notice of a lien or levy against your property.

    $17 Billion

    2014 Employer Mandate Tax: If an employer does not offer health coverage, and at least one employee qualifies for a health tax credit, the employer must pay an additional non-deductible tax of $2000 for every full-time employee. This provision applies to all employers with 50 or more employees. If any employee actually receives coverage through the exchange, the penalty on the employer for that employee rises to $3000. If the employer requires a waiting period to enroll in coverage of 30-60 days, there is a $400 tax per employee ($600 if the period is 60 days or longer). $65 Billion

    (Combined individual and employer mandate tax penalty.)

    2014 Tax on Health Insurers: Annual tax on the industry imposed relative to health insurance premiums collected that year. The stipulation phases in gradually until 2018, and is fully-imposed on firms with $50 million in profits. $60.1 Billion

    2018 Excise Tax on Comprehensive Health Insurance Plans: New 40 percent excise tax on “Cadillac” health insurance plans ($10,200 single/$27,500 family). For early retirees and high-risk professions a higher threshold exists: ($11,500 single/$29,450 family). CPI +1 percentage point indexed.

    New Taxes In The Healthcare Bill - Business Insider
     
  18. Lakhota
    Online

    Lakhota Gold Member

    Joined:
    Jul 14, 2011
    Messages:
    26,683
    Thanks Received:
    1,494
    Trophy Points:
    205
    Location:
    Native America
    Ratings:
    +2,017
  19. Jackson
    Offline

    Jackson Gold Member Supporting Member

    Joined:
    Dec 31, 2010
    Messages:
    8,549
    Thanks Received:
    2,435
    Trophy Points:
    245
    Location:
    Nashville
    Ratings:
    +2,761
    How Much Is the Obamacare ‘Tax’?

    Posted on June 28, 2012





    Q: How much will the “tax” penalty be for going without health insurance?


    A: The minimum assessment will be $695 per person (but no more than $2,085 per family) in 2016, when fully phased in. The amount can be higher depending on income. But there are exemptions for low-income persons and others.


    Just what I posted.
     
  20. WillowTree
    Offline

    WillowTree Senior Member

    Joined:
    Sep 15, 2008
    Messages:
    62,064
    Thanks Received:
    9,117
    Trophy Points:
    48
    Ratings:
    +9,118






    Take your blinders off skid mark.
     

Share This Page