Return to the Hot Topics Forum | Post a Follow-Up

 o
Obamacare tax increases

Posted by nikoleta (My Page) on
Tue, Apr 10, 12 at 19:28

Democrats promised Obamacare is going to SAVE us money. The link below shows us what those "savings" look like.

"4. Obamacare Surtax on Investment Income (Tax hike of $123 billion/takes effect Jan. 2013): Creation of a new, 3.8 percent surtax on investment income earned in households making at least $250,000 ($200,000 single). This would result in the following top tax rates on investment income: Bill: Reconciliation Act; Page: 87-93"

"9. Obamacare Flexible Spending Account Cap" aka “Special Needs Kids Tax” (Tax hike of $13 bil/takes effect Jan. 2013): Imposes cap on FSAs of $2500 (currently unlimited). Indexed to inflation after 2013. 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. Bill: PPACA; Page: 2,388-2,389"

11. Obamacare "Haircut" for Medical Itemized Deduction from 7.5% to 10% of AGI (Tax hike of $15.2 bil/takes effect Jan. 2013): 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. Waived for 65+ taxpayers in 2013-2016 only. Bill: PPACA; Page: 1,994-1,995

15. Obamacare Excise Tax on Charitable Hospitals (Min$/took effect immediately): $50,000 per hospital if they fail to meet new "community health assessment needs," "financial assistance," and "billing and collection" rules set by HHS. Bill: PPACA; Page: 1,961-1,971"

More of those fantastic "tax savings" from Obamacare can be examined in the link below.

Here is a link that might be useful: Comprehensive Obama tax increases


Follow-Up Postings:

 o
RE: Obamacare tax increases

Let me out of here but first I'll leave a big HOOOOT! for nika.


 o
RE: Obamacare tax increases

Nik, tax hikes will be a good thing. The $$$$$$$$$$$$$$$$ our government is spending apparently doesn't "feel real". If we (well, those of us who actually pay taxes) get hit in the pocket some more, just maybe the people will pay attention to this crazy, scary, downright dangerous spending.

It must be paid for.


 o
RE: Obamacare tax increases

Great work, Nic.

Let's see, what did medicare and medicare end up costing?
What about ANY government program, did it come in as promised, or under budget?

"Barack Hussein Obama," as the school children chanted gleefully,

Ummmm Ummm Ummmmmm.


 o
RE: Obamacare tax increases

  • Posted by ohiomom 3rdrockfromthesun (My Page) on
    Tue, Apr 10, 12 at 19:40

Not to worry Romney(care) will soon be prez, yes I really sincerely think he has a good chance of being the next prez and the last few years will be wiped out and all will be well again. Course me, myself and I cannot tell the difference between the two parties, but what the heck do I know :)

Peace


 o
RE: Obamacare tax increases

Yes, i very much urge everyone to go to Nik's link, and see what these tax increases are, and who they effect.


 o
RE: Obamacare tax increases

nikoleta, How much do you figure the tanning bed tax is going to set you back?


 o
RE: Obamacare tax increases

"nikoleta, How much do you figure the tanning bed tax is going to set you back?"

Tax increase #12? I'm not into tanning beds...but thank you for your concern! :)

I'm more interested in finding out where #13 will leave the retirees Democrats have scheduled to "sacrifice" their benefits at the altar of Obamacare.

"13. Obamacare elimination of tax deduction for employer-provided retirement Rx drug coverage in coordination with Medicare Part D (Tax hike of $4.5 bil/takes effect Jan. 2013) Bill: PPACA; Page: 1,994"

Every person responsible is a Democrat.


 o
RE: Obamacare tax increases

Glad you finally got around to reading it. The rest of us have known about these for ages now.


 o
RE: Obamacare tax increases

Can we talk about the 15% carried interest tax rate that hedge fund managers get again?

That tax break that made Romney so wealthy?


 o
RE: Obamacare tax increases

Nik, why don't you ask seniors, who have already saved over $2 billion in 2011 alone (an average of $604 per person) after the AHA closed the donut hole in prescription drug coverage, how much of a "sacrifice" this Act has been to them?

Here is a link that might be useful: ASPE Issue Brief, Feb 2012


 o
RE: Obamacare tax increases

Here in Wisconsin, Wisconsin Senior Care takes care of the low income seniors. $5 co-pay on generics, $25 on brand name. My post heart bypass Mom gets all her drugs for around $35/month.

She doesn't want any change. If I personally know of this one example, there surely must be others :)


 o
RE: Obamacare tax increases

And who pays for Wisconsin Senior Care, that your Mom gets $5/25 copays?


 o
RE: Obamacare tax increases

Membership fees, Wisconsin state budget, and matching federal funds via Medicaid.


 o
RE: Obamacare tax increases

Thats a good thing. Here, its just Medicaid.


 o
RE: Obamacare tax increases

Yes, it's cool here for prescription drugs and low income seniors--and I think they like it that way :)


 o
RE: Obamacare tax increases

Is there any reason to believe it will change under Obamacare.....any factual reason ?


 o
RE: Obamacare tax increases

Elvis -- I hope she is participating in the ongoing efforts to keep your Republican governor from cutting it entirely, then. He chopped $15mil off Senior Care in his last budget, alongside requiring all seniors using it to register for Medicare as well, and the cut was only struck out of the proposal by massive popular protest. Your mom can thank Hot Topics forum member Lenam for being a vocal part of that protest.


 o
RE: Obamacare tax increases

Participating? probably not. She's 90, and not too interested in extracurricular activities; I do drive her to the polls, though :) She did sign one of the recall petitions I circulated~~

Yes, we are a very vocal bunch. I don't know if Lenam is a member of our union or not, but any support is sure welcome!


 o
RE: Obamacare tax increases

I am so confused. I thought you and your husband owned a small business that employed several people. Healthcare costs were a concern.

Now you say you are in a union.......which means you have healthcare insurance.

We are a very smart bunch here, political persuasions aside. The truth of who we are always shines through.......even if we think otherwise.


 o
RE: Obamacare tax increases

Simple answer. First of all, I said WE have a business, didn't say anything about a husband. I'm both a business owner and a union employee; they aren't mutually exclusive. Probably why I'm neither a Republican nor a Democrat.

If I was going to be tricky, I would well...be good at it ;)


 o
RE: Obamacare tax increases

So elvis, your a AFSCME member which means your a public employee whos benies come from taxes, who voted for Walker but had buyers remorse when he went for your pension...and are a business owner that doesn't offer health insurance and doesnt want your employees to have the same benefit (through bigger insurance pools offered to smaller businesses, employees, etc.)

That doesn't jive.


 o
RE: Obamacare tax increases

Apologies on the "husband" not a good assumption on my part.


 o
RE: Obamacare tax increases

I always found it funny that as soon as everyone is required to have health insurance, the threshold for claiming medical expenses will rise from 7.5% of AGI to 10% of AGI. So more people will be required to buy health insurance but fewer will see any tax benefit from it.

That particular tax increase is not limited to the 1%. The only people who are excluded from it are age 65 or older and that exclusion only lasts until 2016.


 o
RE: Obamacare tax increases

Oh good grief - you can't just look at the taxes without understanding how they affect the costs of care. Under the Affordable Care Act, the prescription donut hole was closed saving seniors money. Most of these taxes are devised to lower the rising costs of Medicare - something the GOP does by sticking seniors with the difference - $6000. How does that senior lynching work for you Elvis?


 o
RE: Obamacare tax increases

Thanks jlhug, for pointing that out.

Now some can join the ranks of the rest of us who don't get to deduct any health care expenses.

Oh, for a flat tax for every person over the age of 18.


 o Post a Follow-Up

Please Note: Only registered members are able to post messages to this forum.

    If you are a member, please log in.

    If you aren't yet a member, join now!


Return to the Hot Topics Forum

Information about Posting

  • You must be logged in to post a message. Once you are logged in, a posting window will appear at the bottom of the messages. If you are not a member, please register for an account.
  • Posting is a two-step process. Once you have composed your message, you will be taken to the preview page. You will then have a chance to review your post, make changes and upload photos.
  • After posting your message, you may need to refresh the forum page in order to see it.
  • Before posting copyrighted material, please read about Copyright and Fair Use.
  • We have a strict no-advertising policy!
  • If you would like to practice posting or uploading photos, please visit our Test forum.
  • If you need assistance, please Contact Us and we will be happy to help.


Learn more about in-text links on this page here