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

[ItsjustmeIthink]

The biggest damn tax hike in the history of America. Democrats done good today.. vewy good.

Okay, then please provide proof of your claim. I provided proof that it isn't.

The Biggest Tax Increase In U.S. History? - Forbes.com

Please, do us all a favor and put in the effort to look up the facts.

Senario 1: 2014 rolls 'round and you have insurance.
^ YOU WON'T BE CHARGED A SMALL TAX AS A PENALTY

Senario 2: It's 2014 and you don't have health insurance -not because you can't afford it, but because you choose not to buy it- you will then be charged 1% of total taxable income. From my understanding, this penalty is not too exceed 2.5% of your total taxable income after 3 years of not paying insurance -again, you're only penalized when you have the ability to pay but choose not to.

 

[Listening]

FactCheck.org : How Much Is the Obamacare ‘Tax’?

Yep, look at all those outs.

Your own article shows just how gross this thing will be.

 

[daveman]

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

"Why Water Isn't Wet." "Why The Sun Isn't Hot." "Why Things Don't Fall Down."

 

[WillowTree]

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

Okay, then please provide proof of your claim. I provided proof that it isn't.

The Biggest Tax Increase In U.S. History? - Forbes.com

Please, do us all a favor and put in the effort to look up the facts.

Senario 1: 2014 rolls 'round and you have insurance.
^ YOU WON'T BE CHARGED A SMALL TAX AS A PENALTY

Senario 2: It's 2014 and you don't have health insurance -not because you can't afford it, but because you choose not to buy it- you will then be charged 1% of total taxable income. From my understanding, this penalty is not too exceed 2.5% of your total taxable income after 3 years of not paying insurance -again, you're only penalized when you have the ability to pay but choose not to.

duplicated. take yer time, skid mark.

 

[Lakhota]

FactCheck.org : A Bogus Tax Attack Against Obama

FactCheck.org : Romney’s ‘Gross’ Exaggeration on ‘Obamacare’

FactCheck.org : GOP’s ‘Job-Killing’ Whopper, Again

PolitiFact | Health Care statements

PolitiFact |Limbaugh, GOP have it wrong: Health care law is not the largest tax increase ever

PolitiFact | Top 5 falsehoods about the health care law

 

[ItsjustmeIthink]

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

The Biggest Tax Increase In U.S. History? - Forbes.com

Please, do us all a favor and put in the effort to look up the facts.

Senario 1: 2014 rolls 'round and you have insurance.
^ YOU WON'T BE CHARGED A SMALL TAX AS A PENALTY

Senario 2: It's 2014 and you don't have health insurance -not because you can't afford it, but because you choose not to buy it- you will then be charged 1% of total taxable income. From my understanding, this penalty is not too exceed 2.5% of your total taxable income after 3 years of not paying insurance -again, you're only penalized when you have the ability to pay but choose not to.

duplicated. take yer time, skid mark.

The Health Care Law & You | HealthCare.gov

If its not good enough, I have more.

 

[Listening]

FactCheck.org : A Bogus Tax Attack Against Obama

FactCheck.org : Romney’s ‘Gross’ Exaggeration on ‘Obamacare’

FactCheck.org : GOP’s ‘Job-Killing’ Whopper, Again

PolitiFact | Health Care statements

PolitiFact |Limbaugh, GOP have it wrong: Health care law is not the largest tax increase ever

PolitiFact | Top 5 falsehoods about the health care law

We know where you get your talking points. You missed a few...

StupidAssDemocrats.Com

BendoverAndSmile.Net

LetsCallRedBlue.Org

I want to congratulate you in adding to the stable of entitlements you will now be drawing from.....we can't have enough leeches around here.

 

[GuyPinestra]

Like I'm going to believe anything that comes from Walter Annenberg and Company...LOL

 

[ItsjustmeIthink]

So has anyone actually proved how the individual mandate is a massive tax hike?

 

[Lakhota]

10 Things You Get Now That Obamacare Survived | Mother Jones

 

[Stephanie]

The biggest damn tax hike in the history of America. Democrats done good today.. vewy good.

Okay, then please provide proof of your claim. I provided proof that it isn't.

omfriggengawd

 

[Stephanie]

well now see folks, according to thinkprogress, it's not the BIGGEST tax hike but just a itty bitty tax hike so what you all bitching about

 

[The Infidel]

Link?

 

[Lakhota]

So has anyone actually proved how the individual mandate is a massive tax hike?

They're still thinking about it...

 

[Stephanie]

So has anyone actually proved how the individual mandate is a massive tax hike?

They're still thinking about it...

well what would you know, you have to have thinkprogress do your thinking for you.

 

[Lakhota]

Link?

You have an interesting kitchen...

 

[Charles_Main]

By Travis Waldron

The Supreme Court ruled today that the Affordable Care Act, the comprehensive health care reform package signed by President Obama in 2010, is constitutional. The Court upheld the law’s most controversial provision, the individual mandate, ruling that it is constitutional under the government’s authority to levy and collect taxes.

Republicans have falsely claimed the mandate was the “biggest tax increase ever in American history,” so of course, conservatives immediately jumped on the idea that the individual mandate was a massive tax hike on the middle class, reviving an argument Republicans have made since the law passed more than two years ago:

The mandate can indeed be characterized as a tax, as the Court found. But it is not a massive tax hike on the middle class, much less the biggest tax hike in American history. The tax imposed by the individual mandate amounts to either $695 or 2.5 percent of household income for those who don’t have insurance and are not exempt based on income levels. By comparison, the payroll tax cut extension Republicans repeatedly blocked earlier this year would have added 3.1 percentage points to the tax and cost the average family $1,500 a year.

The mandate, meanwhile, would hit a small amount of Americans — somewhere between 2 and 5 percent — according to a study from the Urban Institute. The number could be even lower depending on the law’s success: in Massachusetts, the only state with an insurance mandate, less than 1 percent of the state’s residents paid the penalty in 2009.

The majority of the Affordable Care Act’s other taxes, such as a payroll tax increase and a tax on high-cost health plans, are aimed at upper-income Americans. In exchange, millions of jobs will be created as new people enter the health care system and millions of people will gain access to affordable, quality insurance that they otherwise would not have. And, as we detailed earlier today, the Court’s decision to uphold the entirety of the law will have significant benefits for the nation’s economy.

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.

It's not just the Mandate that is a Tax Hike. The Bill is full of all sorts of Taxes on Business from a Tanning Tax, to taxes on Medical Devices, to a tax on the Insurance Premiums everyone including the Middle Class pay.

So once again, Your full of shit.

 

[ItsjustmeIthink]

FactCheck.org : A Bogus Tax Attack Against Obama

FactCheck.org : Romney’s ‘Gross’ Exaggeration on ‘Obamacare’

FactCheck.org : GOP’s ‘Job-Killing’ Whopper, Again

PolitiFact | Health Care statements

PolitiFact |Limbaugh, GOP have it wrong: Health care law is not the largest tax increase ever

PolitiFact | Top 5 falsehoods about the health care law

We know where you get your talking points. You missed a few...

StupidAssDemocrats.Com

BendoverAndSmile.Net

LetsCallRedBlue.Org

I want to congratulate you in adding to the stable of entitlements you will now be drawing from.....we can't have enough leeches around here.

Don't forget forbes!
The individual mandate as a tax: what the court said - Forbes

Under the mandate, if an individual does not maintain health insurance, the only consequence is that he must make an additional payment to the IRS when he pays his taxes….

^ C.J.

 

[percysunshine]

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

Holy cow! Lakhota is going to be the next Supreme Court Justice selected by Obama in his second term.

 

[Rozman]

The biggest damn tax hike in the history of America. Democrats done good today.. vewy good.

Okay, then please provide proof of your claim. I provided proof that it isn't.

I don't trust Libs with numbers.
Last night it was that the Stimulus created anywhere between
1 million or 4 million jobs....

Tomorrow it might be 10 million or 100 million jobs...