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Old 01-14-2010, 09:56 AM
 
Location: Sacramento
13,390 posts, read 15,237,474 times
Reputation: 5104
Default New Tax on Interest, Dividends and Gains?

Right now, Medicare is taxed at 2.9% of earned income, half payed by the employer and the other half withheld from employees. This may soon, change, with the 2.9% tax added to "unearned" income:

President Obama and top Democratic congressional leaders said late Wednesday that they were making “significant progress” towards reconciling the House and Senate health care reform bills....Boosting the Medicare payroll tax, either by increasing the rate or extending it to unearned income, is still a live option, according to sources familiar with the talks.

Read more: President Obama pushes for a deal on health bill - Carrie Budoff Brown and Patrick O'Connor - POLITICO.com
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Old 01-14-2010, 10:44 AM
 
40,871 posts, read 42,017,499 times
Reputation: 12247
There is alot o teh table because thay know the so called savings to fund the bil like all savings is a shell gae that never comes true. Right now the real question is will they tax empoyer paid benefits as erned income and allow a deduction on income tax for all people;not allow those that get it to continue to not have in showup as income at all;bascially a total deduction.As far as the medicare issue they need if they want to put more on medicare to reduce the funding need from general revenues to again hide the real cost ( at issue is puting all 55 and older on medicare;they ned to rasie alot of moeny to fund it. Looks to me like they di not actaully do a very good job and are really worried about the funding they got CBO to look at.With the medicare tax increase and the medicaid cost being sahifted to sates its will eman higher taxes for evryone really. It kind of a hide what is really going to happen IMO. Higher stae taxes;higher medicare taxes and high prices on consumers passed on by those companies higher taxes and cost to insure employees.They IMO now are lookig for other sources since they already see that higher taxes on corproations bascially will mean more imports;lower emplyment and less investment by many corporations in this country and even less savings and investment by the average person.Bascially when you tax more you discourage investment and have less money avlaible for the consumer to spend.Governamnt has never been efficent at spending moeny or running programs.
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Old 01-14-2010, 11:10 AM
 
Location: Oxygen Ln. AZ
8,283 posts, read 10,069,197 times
Reputation: 4410
Quote:
Originally Posted by texdav View Post
There is alot o teh table because thay know the so called savings to fund the bil like all savings is a shell gae that never comes true. Right now the real question is will they tax empoyer paid benefits as erned income and allow a deduction on income tax for all people;not allow those that get it to continue to not have in showup as income at all;bascially a total deduction.As far as the medicare issue they need if they want to put more on medicare to reduce the funding need from general revenues to again hide the real cost ( at issue is puting all 55 and older on medicare;they ned to rasie alot of moeny to fund it. Looks to me like they di not actaully do a very good job and are really worried about the funding they got CBO to look at.With the medicare tax increase and the medicaid cost being sahifted to sates its will eman higher taxes for evryone really. It kind of a hide what is really going to happen IMO. Higher stae taxes;higher medicare taxes and high prices on consumers passed on by those companies higher taxes and cost to insure employees.They IMO now are lookig for other sources since they already see that higher taxes on corproations bascially will mean more imports;lower emplyment and less investment by many corporations in this country and even less savings and investment by the average person.Bascially when you tax more you discourage investment and have less money avlaible for the consumer to spend.Governamnt has never been efficent at spending moeny or running programs.
Shell game is a great way to put it. I hope it goes to the courts if passed and gets shot down. We need to start over.
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Old 01-14-2010, 11:23 AM
 
23,031 posts, read 17,983,632 times
Reputation: 5374
What bothers me most is that this is a tax using Medicare to fund non Medicare health insurance. This makes it more difficult to stabilize Medicare itself which is a necessity. Any increase in Medicare payroll tax should be to financially secure Medicare itself. Medicare taxes should only be for Medicare solvency. The House and Senate may not be able to reconcile a bill that is able to be passed by both chambers.
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Old 01-14-2010, 12:02 PM
 
Location: WA
3,940 posts, read 12,279,650 times
Reputation: 2735
Quote:
Originally Posted by TuborgP View Post
What bothers me most is that this is a tax using Medicare to fund non Medicare health insurance. This makes it more difficult to stabilize Medicare itself which is a necessity. Any increase in Medicare payroll tax should be to financially secure Medicare itself. Medicare taxes should only be for Medicare solvency. The House and Senate may not be able to reconcile a bill that is able to be passed by both chambers.
Exactly right! These people in government are criminal and should be in jail with Madoff.
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Old 01-14-2010, 12:45 PM
 
Location: Sacramento
13,390 posts, read 15,237,474 times
Reputation: 5104
Quote:
Originally Posted by TuborgP View Post
What bothers me most is that this is a tax using Medicare to fund non Medicare health insurance. This makes it more difficult to stabilize Medicare itself which is a necessity. Any increase in Medicare payroll tax should be to financially secure Medicare itself. Medicare taxes should only be for Medicare solvency. The House and Senate may not be able to reconcile a bill that is able to be passed by both chambers.
Actually, I think what you are seeing is the incremental destruction of Medicare. I suspect there is a comprehensive agenda, that won't be discussed until after the 2012 elections are over, to integrate Medicare into a more extensive (and rationed) healthcare system.

Just my opinion.
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Old 01-14-2010, 03:09 PM
 
23,031 posts, read 17,983,632 times
Reputation: 5374
Quote:
Originally Posted by NewToCA View Post
Actually, I think what you are seeing is the incremental destruction of Medicare. I suspect there is a comprehensive agenda, that won't be discussed until after the 2012 elections are over, to integrate Medicare into a more extensive (and rationed) healthcare system.

Just my opinion.
No argument here. I think neither party has Medicare in mind as a plus for their political beliefs. Only for election purposes. Republicans have philosophical issue with the concept of Medicare and seniors are not a key Democratic constituency. Like Social Security there needs to be some correlation between contributions an benefits. There are some good things about the very key and positive nature of public (state pensions) to society that need to be discussed that our political leaders won't touch. Heard a good interview on CNBC today with the Chief Investment Officer of the California system.
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Old 01-14-2010, 05:09 PM
 
Location: Boca Raton, FL
3,958 posts, read 4,653,972 times
Reputation: 3447
Smile Scares me....

I know some type of reform is needed and I feel they are shoving it down our throats but why the rush if it doesn't take effect until after 2012? Go back to the drawing board and do it right.

So much for transparency. Too many back room deals IMO.
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