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So much for "Oh, it's only going to affect those people who don't have insurance, no one else will have to pay"
A 3.8% surtax on "investment income" when your adjusted gross income is more than $200,000 ($250,000 for joint-filers). What is "investment income?" Dividends, interest, rent, capital gains, annuities, house sales, partnerships, etc. Taxes on dividends will rise from 15% to 18.8%--if Congress extends the Bush tax cuts. If Congress does not extend the Bush tax cuts, taxes on dividends will rise from 15% to a shocking 43.8%. (WSJ)
A 0.9% surtax on Medicare taxes for those making $200,000 or more ($250,000 joint). You already pay Medicare tax of 1.45%, and your employer pays another 1.45% for you (unless you're self-employed, in which case you pay the whole 2.9% yourself). Next year, your Medicare bill will be 2.35%. (WSJ)
Flexible Spending Account contributions will be capped at $2,500. Currently, there is no tax-related limit on how much you can set aside pre-tax to pay for medical expenses. Next year, there will be. If you have been socking away, say, $10,000 in your FSA to pay medical bills, you'll have to cut that to $2,500. (ATR.org)
The itemized-deduction hurdle for medical expenses is going up to $10,000. Right now, any medical expenses over $7,500 per year are deductible. Next year, that hurdle will be $10,000. (ATR.org)
The penalty on non-medical withdrawals from Healthcare Savings Accounts is now 20% instead of 10%. That's twice the penalty that applies to annuities, IRAs, and other tax-free vehicles. (ATR.org)
A tax of 10% on indoor tanning services. This has been in place for two years, since the summer of 2010. (ATR.org)
A 40% tax on "Cadillac Health Care Plans" starting in 2018.Those whose employers pay for all or most of comprehensive healthcare plans (costing $10,200 for an individual or $27,500 for families) will have to pay a 40% tax on the amount their employer pays. The 2018 start date is said to have been a gift to unions, which often have comprehensive plans. (ATR.org)
A"Medicine Cabinet Tax" that eliminates the ability to pay for over-the-counter medicines from a pre-tax Flexible Spending Account. This started in January 2011. (ATR.org)
A "penalty" tax for those who don't buy health insurance. This will phase in from 2014-2016. It will range from $695 per person to about $4,700 per person, depending on your income. (More details here.)
A tax on medical devices costing more than $100. Starting in 2013, medical device manufacturers will have to pay a 2.3% excise tax on medical equipment. This is expected to raise the cost of medical procedures. (Breitbart.com)
So those are some of the new taxes you'll be paying that will help pay for Obamacare.
Any big ones I've missed?
Most people are not going to be affected by most of those taxes, if any at all.
Your knowledge of history itself is questionable, much less your idea of tax increases.
I actually am quite knowledgeable of history, as it is my hobby. I going to examine three Pour Le Merite awards today on a scanning electron microscope at a local university for entertainment (I took the day off). I have thousands of books relating to history in my home.
Sorry- You libs cannot have it both ways-
1. OBAMA'S LAWYERS argued to the supreme court that Obamacare was a TAX, NOT A PENALTY.
2. Had Obamacare been a penalty, it would have been found unconstitutional under the commerce clause
3. The majority opinion has OFFICIALLY stated that Obamacare IS A TAX.
4. The only way Obamacare was constitutional was if it was a TAX.
It is funny as hell now to see the libs squirm and protest now that they have been saddled with the ownership of the LARGEST TAX INCREASE IN US HISTORY AND A MAJOR TAX ON THE MIDDLE CLASS. They now realize that they own a very large political turd that will result in their defeat in November.
Be careful what you wish for. PS- Change your avatar.
Ugh, as one example, digital hearing aids, with bluetooth capability (video conferencing audio, cell phone - think mandatory to work anymore - not to mention the leisure and information use w tv or ipod), at a discount will set you back at a minimum of $3,100. Very few insurance policies provide any coverage. So, in exchange for a small tax savings, or loss to the goverment, the fed gets a productive worker, business owner, guess what, contributing much more in various taxes. Or, one could file and claim disability. No thanks. I want to contribute, not take.
Just weedling more taxes.
So you expect me to subsidize your hearing aid? Isn't that the way Republicans think?
I actually am quite knowledgeable of history, as it is my hobby. I going to examine three Pour Le Merite awards today on a scanning electron microscope at a local university for entertainment (I took the day off). I have thousands of books relating to history in my home.
Sorry- You libs cannot have it both ways-
1. OBAMA'S LAWYERS argued to the supreme court that Obamacare was a TAX, NOT A PENALTY.
2. Had Obamacare been a penalty, it would have been found unconstitutional under the commerce clause
3. The majority opinion has OFFICIALLY stated that Obamacare IS A TAX.
4. The only way Obamacare was constitutional was if it was a TAX.
It is funny as hell now to see the libs squirm and protest now that they have been saddled with the ownership of the LARGEST TAX INCREASE IN US HISTORY AND A MAJOR TAX ON THE MIDDLE CLASS. They now realize that they own a very large political turd that will result in their defeat in November.
Be careful what you wish for. PS- Change your avatar.
No squirming here. Call it a tax, I don't care. Call it a potato or a rose or a humble bumble. I've read through the changes and overall, I like them.
1. OBAMA'S LAWYERS argued to the supreme court that Obamacare was a TAX, NOT A PENALTY.
2. Had Obamacare been a penalty, it would have been found unconstitutional under the commerce clause
3. The majority opinion has OFFICIALLY stated that Obamacare IS A TAX.
4. The only way Obamacare was constitutional was if it was a TAX.
Lawyers ALWAYS argue both ways. The strategy is that if the court didn't buy argument 1 they might buy argument 2. That's exactly what they did successfully.
That is so far from what I said, it is beyond laughable. The point being that lowering a pre-tax deduction is a tax increase. That it is short-sighted. To refresh your memory. My main point was about productivity, contributing, not wanting any subsidy. I was simply a handy reference. Not the issue. That is all. You began with a biased premise and failed to understand the words.
"So, in exchange for a small tax savings, or loss to the goverment, the fed gets a productive worker, business owner, guess what, contributing much more in various taxes. Or, one could file and claim disability. No thanks. I want to contribute, not take."
Besides, what is the difference between a $2,500 pretax deduction, and say $3,000, or $5,000? The point is that I was saving to pay a medical expense, for which I then take ownership of and comparison shop for the best solution to my medical condition.
Tax credits and deductions are carrots. Lowering of credits and deductions, or the addition of taxes are sticks. Me, I'm a positive, carrot type of guy.
Quote:
Originally Posted by PullMyFinger
So you expect me to subsidize your hearing aid? Isn't that the way Republicans think?
The starting premise of his response was biased. I was just a handy example, not heresay, or an anonymous anticdotal. Regardless, I'll do what I have to do to remain productive. It's about the backdoor increased taxation anyway.
Quote:
Originally Posted by HappyTexan
Did you NOT read the last sentence of the post you quoted ? It said this:
No squirming here. Call it a tax, I don't care. Call it a potato or a rose or a humble bumble. I've read through the changes and overall, I like them.
You do realize, don't you, that Obamacare has created the largest tax increase in US history that it is a POLITICAL PLAGUE cast upon Obama and the democrats who supported it (it was purely democratic legislation).
Given how polarizing and unpopular this tax is, it will insure Obama's defeat and may deliver the senate to the republicans. The senate is probably more important than the white house, and now is clearly in play.
Democrats OWN OBAMACARE- THE LARGEST TAX INCREASE IN US HISTORY. The debates will be fun. One man- no teleprompter- explaining the last four years to the voters.
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