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You have to be missing some. Afterall, we are talking about democrats making the law.
What about tax breaks? Have any statistics on how many tax credits will disappear?
The bill has over a dozen new taxes, including:
-A 40 percent excise tax on "high value" health care plans of $8,500 or more for an individual and $23,000 or more for a couple ($149.1 billion in new taxes over the next 10 years);
-A 0.5 percent hike in the Medicare payroll tax for single earners over $200,000 and joint earners over $250,000 ($53.8 billion);
-Changes in health savings accounts (HSAs), Archer Medical Spending Accounts, health flexible spending accounts (FSAs), and health reimbursement arrangements ($5 billion);
-A $2,500 cap on FSAs in cafeteria plans ($14.6 billion);
-An increase from 10 percent to 20 percent in the penalty for early non-qualified HSA withdrawals ($1.3 billion);
-A tax on branded drugs ($22.2 billion);
-An annual tax on the health insurers[31] ($60.4 billion);
-A tax on companies that manufacture or import medical devices ($19.3 billion);
-A 0.5 percent excise tax on cosmetic surgery ($5.8 billion over 10 years);
-An increase in the floor of the medical expenses deduction from 7.5 percent of adjusted gross income to 10 percent, except for seniors, who will stay at 7.5 percent ($15.2 billion);
-Elimination of the Medicare Part D (prescription drug) deduction ($5.4 billion);
-A $500,000 cap on the tax deduction for the salaries of employees of health insurance companies ($0.6 billion over 10 years)[32]; and
-A mandate on companies with more than 50 employees to provide health coverage or pay a $750 penalty per employee for those who obtain coverage through the insurance exchange ($36 billion over 10 years) and a mandate on individuals to obtain coverage or pay a tax penalty.[33]
http://www.heritage.org/Research/HealthCare/bg2353.cfm
Last edited by spursncowboys; 12-24-2009 at 09:39 AM.
You have to be missing some. Afterall, we are talking about democrats making the law.
What about tax breaks? Have any statistics on how many tax credits will disappear?
Both you gentlemen presumably would agree that any bill that is not paid for by cutting spending elsewhere, should be paid for by raising taxes. Wouldn't you?
no.
Raising taxes is the worse thing to do, especially in this economy. They are already too high. When you take money away from tax payers, there is less money to keep the economy going, especially with the way government does things.
If you refuse to pay for new bills through either spending cuts or tax hikes, then by default you do it by adding to the deficit.
If I follow you aright, WC, you would sooner add to the national debt than raise taxes to pay as we go. Is that right?
The politicians shouldn't be giving us new bills to pay.
I think the politicians spending the money in unwarranted ways should be jailed until they can pay the costs of what they vote for.
I know, counter productive, but we can't shoot them to solve the problem. It at least keeps them from spending more money we don't have.
Last edited by Wild Cobra; 12-28-2009 at 01:12 PM.
Sure. I agree. But that's not gonna happen.
"New bills to pay" is how lawmakers get votes. It's how they prove they've done something for us.
Until voters demand that their reps refuse to spend on their behalf, or bring home the federal pork, that won't change.
This pales in comparison to tax rates during WWII to the Reagan era and we had a growing economy during most of that time. Difference is we didn't send our dollars overseas for cheap generic crap.
...
This is good. At least we know how this is partly going to be paid for. Now, you don't have to be for it, but at least this is a major improvement over past bills like Medicare Part D.
This is only BHO's first year.
And their lies the problem.
People without values. These people want to live off of others rather than themselves.
"Those people" are our fellow citizens and countrymen.
""Those people" are our fellow citizens and countrymen."
nah, they're s, ' s, Mexicans, poor white trash.
They aren't Real Aryan Euro-Americans and so don't qualify for American solidarity.
What if I choose to put money into a savings account and pay for health care from there, rather than buy an insurance plan. What would be the tax penalty amount on this?a mandate on individuals to obtain coverage or pay a tax penalty
"What would be the tax penalty amount on this"
you pay the same penalty for not having insurance.
Why would it matter where else you put your sicky-day savings?
Assume you got really sick, like $200K sick, would your sicky-day savings pay for it?
or would you go to the public hospital and have taxpayers pay for it like other uninsured?
I understand that. I'm asking how much the penalty is.
It wouldn't. You misunderstood what I was asking. I was asking the amount in the Obama health care plan proposal.Why would it matter where else you put your sicky-day savings?
I have used savings rather than paying for insurance for the last six years. Hospitals only charge you about 30% as a cash pay patient. But yes, major illness is something to worry about.
Assume you got really sick, like $200K sick, would your sicky-day savings pay for it?
or would you go to the public hospital and have taxpayers pay for it like other uninsured?
$750/year.
Thanks.
Ridiculous.
How compliant the people are now to accept a fee on their very existence. No doubt the price of that will rise soon enough.
I think the figure was $7500 to start with.
Not that that should have any effect whatsoever on the principle involved.
again, how the F is it logical to pass a mandate to buy insurance to be ALIVE??!?
Car insurance is different. Don't drive if you don't want to pay. Problem solved.
but health insurance? wow.
We've been told this was going to reduce costs, not increase them.
Now...how to "pay" for reducing the costs of health care.
...and pay we will.
It's always about the money.
Last edited by SouthernFried; 12-29-2009 at 01:38 AM.
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