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This is a really good and easy to understand article about how Obamacare will hit you in the wallet. You might want to keep a copy for future reference. I have a feeling it's going to come up a lot in this forum.
"While we were all debating the cost to our liberty due to the Patient Protection and Affordable Care Act (Obamacare), we were ignoring the cost to our pockets. If there ever was a reason for bipartisan rage about this law, it should be on the twenty - yes, twenty - hidden new taxes of this law. Making matters even more relevant is that seven of these taxes are levied on all citizens regardless of income. Hence, Mr. Obama’s promise not to raise taxes on anyone earning less than $250,000 is just another falsehood associated with this legislation.
Individual Mandate Tax
Medicine Cabinet Tax
Flexible Spending Account (FSA) Cap
Medical Itemized Deduction Hurdle
Health Savings Account (HSA) Withdrawal Tax Hike
Indoor Tanning Services Tax
Excise Tax on Comprehensive Health Insurance Plans or the “Cadillac” Health Insurance Plan Tax (that's you union guys and feds)
There are thirteen other taxes that apply to businesses and that apply to high income (over $250,000 per year) households.
It's amazing that penalties for not abiding by a law are now taxes. LOL...Whatever you want to call them, the Obamacare works quite well as Romneycare in Mass. It's a lot better then the cluster that was healthcare prior to two years ago. But anyway, republicans get terrorfied at the word tax warranted or not....So tax, tax, tax
It's amazing that penalties for not abiding by a law are now taxes. LOL...Whatever you want to call them, the Obamacare works quite well as Romneycare in Mass. It's a lot better then the cluster that was healthcare prior to two years ago. But anyway, republicans get terrorfied at the word tax warranted or not....So tax, tax, tax
Is that the same as penalties for making mistakes on taxes are taxes also. I guess it is all in the way you look at something. We have to be law-abiding people or our country would have chaos, but my brain still tells me that even though our Supreme Court has said these are taxes and the rules are legal; they really aren't. But I am just one citizen.
I am amazed that 9 people came to this decision but only one person is getting blame because it was not ruled unconstitutional as it should have been. I don't blame him one bit. It is time we as citizens take on the responsibility of not voting for the lesser of the two evils in any election and start writing in the name of someone we think would actually be qualified to do the job. Then we might have someone in office that has the guts to get the job done. People used to like to hate Jesse Helms but I have never been so proud of him as when he was the only senator that voted to go to war with England against a country I can't even remember right now. I think he was right and 99 other senators were wrong.
Individual Mandate Tax
Medicine Cabinet Tax
Flexible Spending Account (FSA) Cap
Medical Itemized Deduction Hurdle
Health Savings Account (HSA) Withdrawal Tax Hike
Indoor Tanning Services Tax
Excise Tax on Comprehensive Health Insurance Plans or the “Cadillac” Health Insurance Plan Tax (that's you union guys and feds)
There are thirteen other taxes that apply to businesses and that apply to high income (over $250,000 per year) households.
You mean people with Medical Itemized Deductions and "Cadillac" Health Insurance Plans will now pay closer to their fair share of taxes???
The Supreme Court has ruled that PPACA is a tax. Taxes are revenue. Revenue bills must originate in the House of Representatives. PPACA originated in the Senate. PPACA is unconstitutional.
I always say be very careful when you wish taxes on higher income levels. The government knows what they are doing. They enacted the Alternative Minimum Tax also known as AMT. Most people of course did not care because it was a Tax The Rich taxation but conveniently when the tax law was written it is not adjusted for inflation. Of course they knew as time went on that it hurt more and more people with increased taxes.
So they slide this tax in without problem and just as it did last year, AMT is will effect millions of middle income earners and they will have to pay AMT. If you never paid that tax you may be in for a surprise.
I thought Obama said the middle class would NOT pay higher taxes?
If you are lucky enough to have a job make sure you increase your paycheck tax withholding. If you don't have enough taken out you get hit with a nice fat penalty.
Roll those changes up and a family filing as married with two children making $50,000, will see their taxes increase by basically $2,700. That is an extra $112.50 per paycheck or $225.00 MORE per month of your income that goes to taxes.
Do you believe in Karma? Tax The Rich Karma?
Last edited by eRayP; 06-29-2012 at 11:48 PM..
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