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Ahh ok.. cause I'm suprised at the number of people here who think americans got a tax cut under Obama... They must have failed the math class which explained to them that $320B in cuts, + $670B in new taxes dont = a cut...
Well the child tax crap doesn't help me. We don't make enough to get the additional tax credit and we won't owe any taxes so the regular one won't help either. Eh. I thought it was that you got so much per child. That would be awesome.
Ahh ok.. cause I'm suprised at the number of people here who think americans got a tax cut under Obama... They must have failed the math class which explained to them that $320B in cuts, + $670B in new taxes dont = a cut...
everyones taxes will go up,,,the biggest hits would be in the 90-170k range......unless congress agrees to extend the tax cuts/credits
everyone under 180k will lose the credit of: the energy credit
.................................................. ..........the education credit
.................................................. ..........the retirment 401k credit
.................................................. ..........the child credit will be reduced
.................................................. ..........the child CARe credit
.................................................. ..........the medical bill credit
its now june 21....congress/potus has only 6 months left to help the american people, before we get hit with major tax increases/credit decreases............let's see if obamy is good on his word "no-one under 250k will se thier taxes go up"
The scary thing is the pace of what government has done... health care "reform", finance "reform", the medicare doc fix... I am getting this strange idea that Obama is going to blow it with the tax cuts and not pass them in time however there are still 10 months left so we will see (6 months + 4 months to April)...
How about
$17B new taxes for those who do not purchase health insurance
$52B new taxes for those who fail to comply with government insurance mandates
$32B in a new 40% exercise tax on high cost health plans
$5B cost of new ban on over the counter drugs using money from FSAs, HSAs, HRA's.
$210.2B Increased medicare taxes on wages and self employed income by .9% and imposes a 3.8% surtax on other investment income.
$15.2B cost due to an increase from 7.5% to 10% of income in threahold after which individuals can deduct out of pocket medical expenses
$13B due to a $2,500 annual cap on FSA contributions
$60.1B in new taxes on health insurances
$27B annual tax on brand name pharmaceuticals
$20B tax from a 2.3% excise tax on medical devices
$2.7B tax from a 10% tax on tanning services
$2.6B tax on insured and self insured health plans
$1.4B penalty tax on non qualified HSA distributions
$4.5B tax due to the elimination of a deduction for expenses allocatable to Medicare Part D subsidy
$600M tax due to limited deductions for compensation to officers, employers and directors of health insurance providers
$17.1B to require information reporting on payments to corporations.
$400M to impose additional requirements for section 501(c)(3) for hospitals
$23.6B tax credit removed a "black liquor" needed for cellulosic biofuel producer.
$4.5B Codify economic substance doctrine and impose penalties for underpayments.
$65.5B tax hikes in the SCHIP bill
$6.97B tax hike in the stimulus bill to repeal guidance allowing taxpayers to claim losses from acquired corporations
$2.578B tax hike in unemployment benefits law creating a surcharge tax extension through 6/11
$20.123B cost to delay the rules to reduce the double taxation of american employers until 2018.
And more.. Total tax hikes thus far to date since Obamas election, exceeds $670B
He said 2011 not 2014 when the health insurnace penalty are supposed to go itno effect. One of teh big in after 2014 will be when the states raise taxes to pay for all the people dumped into medicaid by this heathcare bill after federal sunsidises are tranferred to teh states.That will be huge cost to sate taxpayers;if they go along with it.
How about
$17B new taxes for those who do not purchase health insurance
$52B new taxes for those who fail to comply with government insurance mandates
$32B in a new 40% exercise tax on high cost health plans
$5B cost of new ban on over the counter drugs using money from FSAs, HSAs, HRA's.
$210.2B Increased medicare taxes on wages and self employed income by .9% and imposes a 3.8% surtax on other investment income.
$15.2B cost due to an increase from 7.5% to 10% of income in threahold after which individuals can deduct out of pocket medical expenses
$13B due to a $2,500 annual cap on FSA contributions
$60.1B in new taxes on health insurances
$27B annual tax on brand name pharmaceuticals
$20B tax from a 2.3% excise tax on medical devices
$2.7B tax from a 10% tax on tanning services
$2.6B tax on insured and self insured health plans
$1.4B penalty tax on non qualified HSA distributions
$4.5B tax due to the elimination of a deduction for expenses allocatable to Medicare Part D subsidy
$600M tax due to limited deductions for compensation to officers, employers and directors of health insurance providers
$17.1B to require information reporting on payments to corporations.
$400M to impose additional requirements for section 501(c)(3) for hospitals
$23.6B tax credit removed a "black liquor" needed for cellulosic biofuel producer.
$4.5B Codify economic substance doctrine and impose penalties for underpayments.
$65.5B tax hikes in the SCHIP bill
$6.97B tax hike in the stimulus bill to repeal guidance allowing taxpayers to claim losses from acquired corporations
$2.578B tax hike in unemployment benefits law creating a surcharge tax extension through 6/11
$20.123B cost to delay the rules to reduce the double taxation of american employers until 2018.
And more.. Total tax hikes thus far to date since Obamas election, exceeds $670B
OK Friends and Neighbors here is part II of the $64 question. How do you think all these tax increases will influence the economic recovery and a chance a job for those without one? I'll partly Ans. myself....NOT good!
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