Obamacare Tax Increases - What Are They And What Impact

[Sun Devil 92]

Ten Tax Increases of Obamacare, by Avik Roy, National Review

In this article, the author calls out the tax increases of Obamacare.

To which I ask, So What ???

Taxes are necessary at some level to fund things.

Did Obama promise no new taxes as a result of Obamacare ?

The only thing I recall was Obama's statement that he would not tax anyone making less than 250,000 per year.

The following paragraph would indicate that, at least in this area, he kept that promise.

Having said all that, we’ll note that taxes have gone up for some as a result of Obamacare. The law imposes a 3.8 percent tax on net investment income that applies to people who earn more than $200,000 a year for singles, or $250,000 for joint filers. It also levies an additional Medicare tax of 0.9 percent on wages, salaries and self-employment income for people in those income groups. However, these changes also took effect in 2013, not 2014.

False Tax Claims

But what about the tax on Cadillac plans. Won't that tax people below the 250,000 bar ?

 

[Sun Devil 92]

I forgot about the tanning booth tax.

What's up with that ? Was that to pay for skin cancer treatments ?

For sure, it will hit people who make less than 250,000....if they tan.

 

[Arianrhod]

What's up with posting an article from 2010?

 

[Wyatt earp]

What's up with posting an article from 2010?

2018 is coming up when the Cadillac health care tax kicks in.

 

[Arianrhod]

What's up with posting an article from 2010?

2018 is coming up when the Cadillac health care tax kicks in.

My point is that the projections in the 2010 piece are just that...projections. It's incumbent on the OP to tell us whether or not they've come true.

I haven't noticed my taxes going up - have you?

Then again, I don't frequent tanning booths.

 

[Sun Devil 92]

What's up with posting an article from 2010?

2018 is coming up when the Cadillac health care tax kicks in.

My point is that the projections in the 2010 piece are just that...projections. It's incumbent on the OP to tell us whether or not they've come true.

I haven't noticed my taxes going up - have you?

Then again, I don't frequent tanning booths.

Because someone needs to lay down what the expectations were.

Saying they were "projections" is bulls**t.

They were campaign statements used to sell his agenda.

I am simply pointing out that FACT.

Then you go to the second article from 2014 where they do state that such is the case.

Some people's taxes have GONE UP. But no more than what was originally stated.

Now the question is on the other potential taxes that violate that 2010 claim.

The tanning booth tax is a violation of the promise.

Taxing people who don't have health care is a violation of that promise.

How much of an impact, I don't know. It seems for all your yacking about "primary sources" and other such batpiss, you'd have some numbers on hand.

I am developing my own.

But I don't claim to know as much as you see to think you do.

 

[Sun Devil 92]

What's up with posting an article from 2010?

2018 is coming up when the Cadillac health care tax kicks in.

If the Cadilac care tax does hit people making less than 250,000, it is a violation of that campaign promise.

 

[Sun Devil 92]

What's up with posting an article from 2010?

2018 is coming up when the Cadillac health care tax kicks in.

As I understand it, the Cadilac health care tax is a tax on employers. Not on individuals.

Do I understand correctly ?

 

[Sun Devil 92]

According to this article, FSA’s will be limited to $2,500. These are the use-it-or-lose-it accounts that allow money to be held out tax free for things like dental, eyecare, and prescription drugs. From the article:


FSA’s are tax exempt funds that people can use to pay for medical costs not covered by their health insurance plan. Currently, there is no government-imposed limit on how much money can be placed in an FSA. Employers are allowed to put caps on the amount of money allowed in an FSA, but the government cannot.


That’s all about to change.


Starting in 2014, the IRS will impose a $2,500 cap on the amount of money that can be placed in an FSA.


Obamacare To Cap Money Allowed In Flexible Spending Accounts, May Hurt Special Needs Families


As the article points out, $2,500 is enough for most families to cover the costs allow by FSA’s.


But, as the article points out:


But one group of Americans is likely to be especially affected by change: parents of special-needs children.


Even though, this is a small percentage of the population (and let’s set aside the fact that these parents generally sacrifice a great deal for their children and can use all the help they can get), this is another violation of the promise.





An FSA is available to anyone and a middle income family who has to secure products and services for special needs children or parents of large families (who can run up significant medical bills) can make use of one just like people with larger incomes. But now, the benefits of an FSA are limited.


A clear hidden tax and a violation of the promises made in 2008.


Some might argue this isn’t an increased tax. Such a claim would have to explain why, as the LA Times points out:


Before Obamacare, there were no FSA contribution limits for workers under federal tax law. Employers set their own annual limits, and many chose amounts well above $2,500. The federal government, as one example, allowed FSA contributions of up to $5,000 a year.


This implicit "tax" on wage income that now won't be diverted pretax into FSAs is expected to raise $1.5 billion this year, and a total of $13 billion between 2013 and 2019, according to the Joint Committee on Taxation.


A hidden tax in Obamacare


No increased income. Just increased revenue on existing income. Paint it any color you like, it is a tax.

 

[Arianrhod]

According to this article, FSA’s will be limited to $2,500. These are the use-it-or-lose-it accounts that allow money to be held out tax free for things like dental, eyecare, and prescription drugs. From the article:


FSA’s are tax exempt funds that people can use to pay for medical costs not covered by their health insurance plan. Currently, there is no government-imposed limit on how much money can be placed in an FSA. Employers are allowed to put caps on the amount of money allowed in an FSA, but the government cannot.


That’s all about to change.


Starting in 2014, the IRS will impose a $2,500 cap on the amount of money that can be placed in an FSA.

So did that actually happen?

 

[Sun Devil 92]

According to this article, FSA’s will be limited to $2,500. These are the use-it-or-lose-it accounts that allow money to be held out tax free for things like dental, eyecare, and prescription drugs. From the article:


FSA’s are tax exempt funds that people can use to pay for medical costs not covered by their health insurance plan. Currently, there is no government-imposed limit on how much money can be placed in an FSA. Employers are allowed to put caps on the amount of money allowed in an FSA, but the government cannot.


That’s all about to change.


Starting in 2014, the IRS will impose a $2,500 cap on the amount of money that can be placed in an FSA.

So did that actually happen?

Based on what I've read, it did happen.

 

[Arianrhod]

According to this article, FSA’s will be limited to $2,500. These are the use-it-or-lose-it accounts that allow money to be held out tax free for things like dental, eyecare, and prescription drugs. From the article:


FSA’s are tax exempt funds that people can use to pay for medical costs not covered by their health insurance plan. Currently, there is no government-imposed limit on how much money can be placed in an FSA. Employers are allowed to put caps on the amount of money allowed in an FSA, but the government cannot.


That’s all about to change.


Starting in 2014, the IRS will impose a $2,500 cap on the amount of money that can be placed in an FSA.

So did that actually happen?

Based on what I've read, it did happen.

I'd like to read your sources, too.

 

[Sun Devil 92]

According to this article, FSA’s will be limited to $2,500. These are the use-it-or-lose-it accounts that allow money to be held out tax free for things like dental, eyecare, and prescription drugs. From the article:


FSA’s are tax exempt funds that people can use to pay for medical costs not covered by their health insurance plan. Currently, there is no government-imposed limit on how much money can be placed in an FSA. Employers are allowed to put caps on the amount of money allowed in an FSA, but the government cannot.


That’s all about to change.


Starting in 2014, the IRS will impose a $2,500 cap on the amount of money that can be placed in an FSA.

So did that actually happen?

Based on what I've read, it did happen.

I'd like to read your sources, too.

Post #9 has two of them. I even pulled forward the parts I thought were relevant.

I had to take you off of ignore because I can't what others have posted if you have something between them.

 

[Arianrhod]

According to this article, FSA’s will be limited to $2,500. These are the use-it-or-lose-it accounts that allow money to be held out tax free for things like dental, eyecare, and prescription drugs. From the article:


FSA’s are tax exempt funds that people can use to pay for medical costs not covered by their health insurance plan. Currently, there is no government-imposed limit on how much money can be placed in an FSA. Employers are allowed to put caps on the amount of money allowed in an FSA, but the government cannot.


That’s all about to change.


Starting in 2014, the IRS will impose a $2,500 cap on the amount of money that can be placed in an FSA.

So did that actually happen?

Based on what I've read, it did happen.

I'd like to read your sources, too.

Post #9 has two of them. I even pulled forward the parts I thought were relevant.

I had to take you off of ignore because I can't what others have posted if you have something between them.

Both articles are from 2013...before the PPACA was fully implemented. Have these predictions about FSAs actually occurred since?

 

[Sun Devil 92]

According to this article, FSA’s will be limited to $2,500. These are the use-it-or-lose-it accounts that allow money to be held out tax free for things like dental, eyecare, and prescription drugs. From the article:


FSA’s are tax exempt funds that people can use to pay for medical costs not covered by their health insurance plan. Currently, there is no government-imposed limit on how much money can be placed in an FSA. Employers are allowed to put caps on the amount of money allowed in an FSA, but the government cannot.


That’s all about to change.


Starting in 2014, the IRS will impose a $2,500 cap on the amount of money that can be placed in an FSA.

So did that actually happen?

Based on what I've read, it did happen.

I'd like to read your sources, too.

Post #9 has two of them. I even pulled forward the parts I thought were relevant.

I had to take you off of ignore because I can't what others have posted if you have something between them.

Both articles are from 2013...before the PPACA was fully implemented. Have these predictions about FSAs actually occurred since?

1. It was already shown that these changes were due to Obamacare. So, this part of it was implemented.

2. 2016 FSA Limits

Medical Flexible spending will be 2550.....with a 500 rollover allowance.

They were not predictions in 2013, they were reality. They are still reality.

 

[Arianrhod]

So did that actually happen?

Based on what I've read, it did happen.

I'd like to read your sources, too.

Post #9 has two of them. I even pulled forward the parts I thought were relevant.

I had to take you off of ignore because I can't what others have posted if you have something between them.

Both articles are from 2013...before the PPACA was fully implemented. Have these predictions about FSAs actually occurred since?

1. It was already shown that these changes were due to Obamacare. So, this part of it was implemented.

2. 2016 FSA Limits

Medical Flexible spending will be 2550.....with a 500 rollover allowance.

They were not predictions in 2013, they were reality. They are still reality.

If in 2013 you say something will happen in 2016, it is not yet a reality in 2013.

That said, the blog you linked to does confirm what the IRS site says...that FSAs will remain unchanged from the limits in 2015. However, it neglects to mention that the 2015 figure was increased from 2014: In 2015, Various Tax Benefits Increase Due to Inflation Adjustments

I'm not sure that's the point you were trying to make.

 

[Maryland Patriot]

I forgot about the tanning booth tax.

What's up with that ? Was that to pay for skin cancer treatments ?

For sure, it will hit people who make less than 250,000....if they tan.

That tax is racist to begin with, it targets white people only.

 

[Arianrhod]

I forgot about the tanning booth tax.

What's up with that ? Was that to pay for skin cancer treatments ?

For sure, it will hit people who make less than 250,000....if they tan.

That tax is racist to begin with, it targets white people only.

Prove it.

 

[longknife]

Ten Tax Increases of Obamacare, by Avik Roy, National Review

In this article, the author calls out the tax increases of Obamacare.

To which I ask, So What ???

Taxes are necessary at some level to fund things.

Did Obama promise no new taxes as a result of Obamacare ?

The only thing I recall was Obama's statement that he would not tax anyone making less than 250,000 per year.

The following paragraph would indicate that, at least in this area, he kept that promise.

Having said all that, we’ll note that taxes have gone up for some as a result of Obamacare. The law imposes a 3.8 percent tax on net investment income that applies to people who earn more than $200,000 a year for singles, or $250,000 for joint filers. It also levies an additional Medicare tax of 0.9 percent on wages, salaries and self-employment income for people in those income groups. However, these changes also took effect in 2013, not 2014.

False Tax Claims

But what about the tax on Cadillac plans. Won't that tax people below the 250,000 bar ?

Welcome to 2016 and Bigger Obamacare Penalties

This is affordable?

Households that opt to go without health insurance in 2016 are set to get hit with an average Obamacare fine of $969.

That is 47 percent higher than the average $661 penalty per uninsured household for this year, a new analysis by the Kaiser Family Foundation revealed Wednesday.

And households without insurance that earn too much to qualify for financial aid to buy Obamacare plans will pay an even larger fine for 2016 — an average of $1,450, versus the average of $1,177 for 2015.

Uninsured households that would qualify for Obamacare subsidies to help pay for coverage face an average fine of $738 — nearly double the $389 average for this year.

And ACA exchanges are collapsing all across the country. So, where does one go to get insurance?

Read the full story WITH LINKS @ And now, ladies and gentlemen, your new, bigger, 2016 ObamaCare penalties

 

[Stephanie]

this scam hasn't even begun to bite the people in their ass/ wallets. at times I want to say: you voted for it, but unfortunately, we ALL have to get hosed now because of it.

this thing is one of the worst scams ever played on the people. not only is it costing us money, Billions, It grew this Government at a time we could LEAST afford it. and it's costing millions of jobs to be lost because small business can't afford to abide by the rules and regulations stuck on them with it. And it's now made this Federal government tyrants and Fascist in my book.

BUY it or BE FINED. Weren't we supposed to be protected from an Overbearing Federal government?