Posted on 03/17/2010 6:59:04 AM PDT by TigerLikesRooster
Analysis: Obamacare Will Trigger Huge Tax Increases
Tuesday, March 16, 2010 04:15 PM
By: Julie Crawshaw
An analysis of the Obama healthcare bill reportedly shows there will be huge tax increases if Congress passes this legislation.
For starters, people who incur high medical costs won’t be able to deduct as many of them; the legislation increases the adjusted gross income threshold for claiming an itemized deduction from 7.5 percent to 10 percent, Boston.com recently reported.
High-income taxpayers will incur higher hospital insurance tax.
The Medicare tax on wages earned by individuals making in excess of $200,000 and married couples making over $250,000 will go up by 0.50 percent beginning Jan. 1, 2013.
Also, a 40 percent excise tax on high cost employer-sponsored health coverage for any health coverage plan that is costs over $8,500 per year for single coverage and $23,000 per year for family coverage.
(Excerpt) Read more at moneynews.com ...
P!
But the care will be excellent. Do i need the sarcasm tag
Gee. Ya THINK? *Rolleyes*
Good Luck, Bammy. This turnip is tapped OUT!
After/If this passes that cost will just be shifted to taxpayers.
I predict record profits for hospitals, because if you think they will lower prices ... I got ocean front property in Arizona to sell you.
Don’t worry, I’m sure the “Hospital Nationalization Act” is in the queue for after Obamacare passes. Along with the “Healthcare Professional Nationalization Act” and the “IRA/401k Nationalization Act”.
All to be “deemed” to have been passed by Congress of course.
This is the nail in the coffin. This only compounds the tax problem in his deficits / debt. The bankrupting of America is coming down the pike.
THAT is the surest and easiest way for a “leader” to take a nation into marxism....
Folks? Everyone has been kissed to sleep!
It also reduces FSAs so that medical costs will have to be paid with after-tax income instead of pre-tax income. On that alone, it will reduce my ability to pay for medical costs by 25%.
I have pretty standard coverage, but have a very medically involved kid.
The impending passage of Obamacare is already creating Obamacare-Free zones, like Virginia.
"Do ya think, DiNozzo?"
Same here. My FSA has been a life-saver for caring for my son. Both Pelosi-care and Reid-care reduce the FSA cap to $2,500. It should be going in the other direction. If these politicians really believe that health care is a right, then why are they raising taxes on its cost?
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