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The Coming ObamaTax Bomb
Townhall.com ^ | June 29, 2012 | Katie Pavlich

Posted on 06/29/2012 5:54:35 PM PDT by Kaslin

By now you know what the Supreme Court verdict is: ObamaCare is a tax. So what does that mean in terms of actual dollar amounts for Americans and businesses who will pay this new tax? The Heritage Foundation and Americans for Tax Reform have released a series of summaries, tables and charts to help families understand what this means for their wallet.

Heritage:

The Patient Protection and Affordable Care Act (PPACA)[1] imposes numerous tax hikes that transfer more than $500 billion over 10 years—and more in the future—from hardworking American families and businesses to Congress for spending on new entitlements and subsidies. In addition, higher tax rates on working and investing will discourage economic growth both now and in the future, further lowering the standard of living.


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From ATR:

1. Excise Tax on Charitable Hospitals (Min$/immediate): $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

2. Codification of the “economic substance doctrine” (Tax hike of $4.5 billion).  This provision allows the IRS to disallow completely-legal tax deductions and other legal tax-minimizing plans just because the IRS deems that the action lacks “substance” and is merely intended to reduce taxes owed. Bill: Reconciliation Act; Page: 108-113

3. “Black liquor” tax hike (Tax hike of $23.6 billion).  This is a tax increase on a type of bio-fuel. Bill: Reconciliation Act; Page: 105

4. Tax on Innovator Drug Companies ($22.2 bil/Jan 2010): $2.3 billion annual tax on the industry imposed relative to share of sales made that year. Bill: PPACA; Page: 1,971-1,980

5. Blue Cross/Blue Shield Tax Hike ($0.4 bil/Jan 2010): The special tax deduction in current law for Blue Cross/Blue Shield companies would only be allowed if 85 percent or more of premium revenues are spent on clinical services. Bill: PPACA; Page: 2,004

6. Tax on Indoor Tanning Services ($2.7 billion/July 1, 2010): New 10 percent excise tax on Americans using indoor tanning salons. Bill: PPACA; Page: 2,397-2,399

Taxes that took effect in 2011

7. Medicine Cabinet Tax ($5 bil/Jan 2011): Americans no longer able to use health savings account (HSA), flexible spending account (FSA), or health reimbursement (HRA) pre-tax dollars to purchase non-prescription, over-the-counter medicines (except insulin). Bill: PPACA; Page: 1,957-1,959

8. HSA Withdrawal Tax Hike ($1.4 bil/Jan 2011): Increases additional tax on non-medical early withdrawals from an HSA from 10 to 20 percent, disadvantaging them relative to IRAs and other tax-advantaged accounts, which remain at 10 percent. Bill: PPACA; Page: 1,959

Tax that took effect in 2012

9. Employer Reporting of Insurance on W-2 (Min$/Jan 2012): Preamble to taxing health benefits on individual tax returns. Bill: PPACA; Page: 1,957

Taxes that take effect in 2013

10. Surtax on Investment Income ($123 billion/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
 

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*Other unearned income includes (for surtax purposes) gross income from interest, annuities, royalties, net rents, and passive income in partnerships and Subchapter-S corporations.  It does not include municipal bond interest or life insurance proceeds, since those do not add to gross income.  It does not include active trade or business income, fair market value sales of ownership in pass-through entities, or distributions from retirement plans.  The 3.8% surtax does not apply to non-resident aliens.


11. Hike in Medicare Payroll Tax ($86.8 bil/Jan 2013): Current law and changes:
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12. Tax on Medical Device Manufacturers ($20 bil/Jan 2013): Medical device manufacturers employ 360,000 people in 6000 plants across the country. This law imposes a new 2.3% excise tax.  Exempts items retailing for <$100. Bill: PPACA; Page: 1,980-1,986

13. Raise "Haircut" for Medical Itemized Deduction from 7.5% to 10% of AGI ($15.2 bil/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

14. Flexible Spending Account Cap – aka “Special Needs Kids Tax” ($13 bil/Jan 2013): Imposes cap on FSAs of $2500 (now 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

15. Elimination of tax deduction for employer-provided retirement Rx drug coverage in coordination with Medicare Part D ($4.5 bil/Jan 2013) Bill: PPACA; Page: 1,994

16. $500,000 Annual Executive Compensation Limit for Health Insurance Executives ($0.6 bil/Jan 2013). Bill: PPACA; Page: 1,995-2,000

Taxes that take effect in 2014

17. Individual Mandate Excise Tax (Jan 2014): Starting in 2014, anyone not buying “qualifying” health insurance must pay an income surtax according to the higher of the following

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Exemptions for religious objectors, undocumented immigrants, prisoners, those earning less than the poverty line, members of Indian tribes, and hardship cases (determined by HHS). Bill: PPACA; Page: 317-337

18. Employer Mandate Tax (Jan 2014):  If an employer does not offer health coverage, and at least one employee qualifies for a health tax credit, the employer must pay an additional non-deductible tax of $2000 for all full-time employees.  Applies to all employers with 50 or more employees. If any employee actually receives coverage through the exchange, the penalty on the employer for that employee rises to $3000. If the employer requires a waiting period to enroll in coverage of 30-60 days, there is a $400 tax per employee ($600 if the period is 60 days or longer). Bill: PPACA; Page: 345-346

Combined score of individual and employer mandate tax penalty: $65 billion/10 years


19. Tax on Health Insurers ($60.1 bil/Jan 2014): Annual tax on the industry imposed relative to health insurance premiums collected that year.  Phases in gradually until 2018.  Fully-imposed on firms with $50 million in profits. Bill: PPACA; Page: 1,986-1,993

Taxes that take effect in 2018

20. Excise Tax on Comprehensive Health Insurance Plans ($32 bil/Jan 2018): Starting in 2018, new 40 percent excise tax on “Cadillac” health insurance plans ($10,200 single/$27,500 family).  Higher threshold ($11,500 single/$29,450 family) for early retirees and high-risk professions.  CPI +1 percentage point indexed. Bill: PPACA; Page: 1,941-1,956

 

Also, ATR is warning Americans of Taxmageddon, which will happen on January 1, 2013. This will be the largest tax hike in American history and will come in three waves.

First Wave: Expiration of 2001 and 2003 Tax Relief

In 2001 and 2003, the GOP Congress enacted several tax cuts for small business owners, families, and investors (later re-upped by President Obama and Democrat Congress in 2010).  The following tax hikes will occur on January 1, 2013:

Personal income tax rates will rise on January 1, 2013.  The top income tax rate will rise from 35 to 39.6 percent (this is also the rate at which the majority of small business profits are taxed).  The lowest rate will rise from 10 to 15 percent.  All the rates in between will also rise.  Itemized deductions and personal exemptions will again phase out, which has the same mathematical effect as higher marginal tax rates.  The full list of marginal rate hikes is below:

- The 10% bracket rises to a new and expanded 15%

- The 25% bracket rises to 28%

- The 28% bracket rises to 31%

- The 33% bracket rises to 36%

- The 35% bracket rises to 39.6%

Higher taxes on marriage and family coming on January 1, 2013.  The “marriage penalty” (narrower tax brackets for married couples) will return from the first dollar of taxable income.  The child tax credit will be cut in half from $1000 to $500 per child.  The standard deduction will no longer be doubled for married couples relative to the single level.

Middle Class Death Tax returns on January 1, 2013.  The death tax is currently 35% with an exemption of $5 million ($10 million for married couples).  For those dying on or after January 1 2013, there is a 55 percent top death tax rate on estates over $1 million.  A person leaving behind two homes and a retirement account could easily pass along a death tax bill to their loved ones.

Higher tax rates on savers and investors on January 1, 2013.  The capital gains tax will rise from 15 percent this year to 23.8 percent in 2013.  The top dividends tax will rise from 15 percent this year to 43.4 percent in 2013.  This is because of scheduled rate hikes plus Obamacare’s investment surtax.

Second Wave: Obamacare Tax Hikes

There are twenty new or higher taxes in Obamacare.  Some have already gone into effect (the tanning tax, the medicine cabinet tax, the HSA withdrawal tax, W-2 health insurance reporting, and the “economic substance doctrine”).  Several more will go into effect on January 1, 2013.  They include:

Medicare Payroll Tax Hike takes effect on January 1, 2013.  The Medicare payroll tax is currently 2.9 percent on all wages and self-employment profits.  Starting in 2013, wages and profits exceeding $200,000 ($250,000 in the case of married couples) will face a 3.8 percent rate.

“Special Needs Kids Tax” comes online on January 1, 2013  Imposes a cap on FSAs of $2500 (now 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.  This Obamacare cap harms these families.

Medical Device Tax begins to be assessed on January 1, 2013.  Medical device manufacturers employ 360,000 people in 6000 plants across the country. This law imposes a new 2.3% excise tax.  Exempts items retailing for <$100.

“Haircut” for Medical Itemized Deductions goes into force on January 1, 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.

Third Wave: The Alternative Minimum Tax and Employer Tax Hikes

When Americans prepare to file their tax returns in January of 2013, they’ll be in for a nasty surprise—the AMT won’t be held harmless, and many tax relief provisions will have expired.  These tax increases will be in force for BOTH 2012 and 2013.  The major items include:

The AMT will ensnare over 31 million families, up from 4 million last year.  According to the left-leaning Tax Policy Center, Congress’ failure to index the AMT will lead to an explosion of AMT taxpaying families—rising from 4 million last year to 31 million.  These families will have to calculate their tax burdens twice, and pay taxes at the higher level.  The AMT was created in 1969 to ensnare a handful of taxpayers.

Full business expensing will disappear.  In 2011, businesses can expense half of their purchases of equipment.  Starting on 2013 tax returns, all of it will have to be “depreciated” (slowly deducted over many years).

Taxes will be raised on all types of businesses.  There are literally scores of tax hikes on business that will take place.  The biggest is the loss of the “research and experimentation tax credit,” but there are many, many others.  Combining high marginal tax rates with the loss of this tax relief will cost jobs.

Tax Benefits for Education and Teaching Reduced.  The deduction for tuition and fees will not be available.  Tax credits for education will be limited.  Teachers will no longer be able to deduct classroom expenses.  Coverdell Education Savings Accounts will be cut.  Employer-provided educational assistance is curtailed.  The student loan interest deduction will be disallowed for hundreds of thousands of families.

Charitable Contributions from IRAs no longer allowed.  Under current law, a retired person with an IRA can contribute up to $100,000 per year directly to a charity from their IRA.  This contribution also counts toward an annual “required minimum distribution.”  This ability will no longer be there.

 



TOPICS: Culture/Society; Editorial; Front Page News; Government
KEYWORDS: obamacare; obamacaretaxes; obamageddon

1 posted on 06/29/2012 5:54:41 PM PDT by Kaslin
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To: Kaslin

National Healthcare Upheld: The Supreme Court upheld the Patient Protection and Affordable Care Act challenge on Thursday, even though a reversal would have had little to no impact on service-connected veterans served by the Department of Veterans Affairs or on military members and retirees served by military medicine or enrolled in TRICARE. This is because your VFW led the fight back in March 2010 to get Congress to recognize all VA and Defense Department health programs as meeting minimal acceptable coverage standards as required by a proposed national healthcare bill that had failed to include VA health programs for widows and disabled children, and almost 90 percent of military TRICARE programs. With the strong support of then-House Armed Service Committee Chairman Ike Skelton (D-Mo.) and Sen. Jim Webb (D-Va.), and the grassroots advocacy of thousands of VFW members and supporters, the new, more encompassing legislation quickly passed Congress and was signed into law by the president on May 27, 2010. Read the high court’s ruling at http://www.supremecourt.gov/opinions/11pdf/11-393c3a2.pdf.


2 posted on 06/29/2012 5:57:58 PM PDT by 2ndDivisionVet (In honor of my late father, GunnerySgt/Commo Chief, USMC 1943-65)
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To: Kaslin

Actually, the BIG tax bomb begins on Jan 1, when the Bush cuts expire. Assuming nothing is done, the lower and middle classes will get WALLOPED with incredible tax increases, and they will have to pay them, as dodging taxes for the lower classes is simply not doable.

Of course the Upper Middle Class, and the Upper Class will also get hit hard, and the Upper Middle Class will SCREAM LIKE HELL, especially in the Northeast and parts of California, where their numbers are very high.

My dream is to see all of these tax increases go through - for if THE PEOPLE of the United States want $4T worth of government services, then they should start paying taxes to that effect.


3 posted on 06/29/2012 6:06:13 PM PDT by BobL
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To: 2ndDivisionVet

Bend over and grab behind your knees. The Democrats with the aid of the Supreme Court are driving it home.


4 posted on 06/29/2012 6:10:42 PM PDT by Venturer
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To: Venturer

5 posted on 06/29/2012 6:13:24 PM PDT by Hotlanta Mike (Resurrect the House Committee on Un-American Activities (HUAC)...before there is no America!)
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To: Hotlanta Mike

Now that is a bumper sticker! ;-)


6 posted on 06/29/2012 6:22:26 PM PDT by SubMareener (Save us from Quarterly Freepathons! Become a MONTHLY DONOR!)
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To: BobL

A cause for concern, certainly.


7 posted on 06/29/2012 6:27:31 PM PDT by Ciexyz
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To: Kaslin

Damn....when Obama said we will have eat our peas.....I didn’t think it would be a 50 lb bag....

Bump to the top!!!!


8 posted on 06/29/2012 6:29:54 PM PDT by Popman (When you elect a clown: expect a circus...)
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To: Kaslin

bump


9 posted on 06/29/2012 6:52:09 PM PDT by VTenigma
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To: Hotlanta Mike

Gotta get me one of those!


10 posted on 06/29/2012 7:00:58 PM PDT by TADSLOS (The Liberty Experiment is over. All aspects of your life will now be MANDATED.)
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To: BobL

“My dream is to see all of these tax increases go through. . . .”

I agree. Much as I hate to pay my share of the new taxes, much of the middle and upper middle class needs to feel the pain. They reliably vote Democrat believing the class warfare propaganda. They enjoy both the tax relief the Republicans vote for and the social services the deficit spending covers. They believe Obama and Pelosi are really creating a health care plan that won’t cost them anything. The only way they are going to wake up is to bear the costs of the benefits their politicians deliver. If Romney loses in November and these liberals get punched in the teeth with higher taxes in January, they won’t be able to blame anyone but Obama and their Democrat benefactors.

The collapse is coming. If Romney is elected, Soros will manipulate the markets to make it happen early in his term. Republicans will be blamed for a generation. Better to leave Obama holding the bag when it happens. The tax increases will reduce consumer spending precipitating a severe downturn in the economy and much higher unemployment by late 2013. It is going to take protracted pain for the Dems to be blamed and the majority of people to really seek a conservative alternative.


11 posted on 06/29/2012 7:03:09 PM PDT by Soul of the South
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To: Soul of the South

“They enjoy both the tax relief the Republicans vote for and the social services the deficit spending covers. “

That’s a GREAT POINT, almost Thomas Sowell’ish, or Mark Steyn’ish. I’ll go back to reading the rest of your post.


12 posted on 06/29/2012 7:07:20 PM PDT by BobL
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To: Soul of the South

“It is going to take protracted pain for the Dems to be blamed and the majority of people to really seek a conservative alternative.”

I hear you, but won’t go that far. With Obama, we’ll get to watch our debt nearly double again over the next 4 years. If people can’t get it now...why would we expect them to get it in 4 years, when Obamacare is an entitlement.


13 posted on 06/29/2012 7:09:11 PM PDT by BobL
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To: Kaslin

Tax0dumb0 is out to destroy our country, and unfortunately I don’t see Mitt as much of a challenge to the RAT bastard communist-socialist-muslim pig. And a hearty thanks for nuthin’ to all the dumb asses & RAT bastards out there who voted for this commie-socialist-muslim pig, a bare 7 years after 9/11 and being attacked by muslim terrorists. My brother & fat ass sister-in-law are two of the dumb asses who voted for 0dumb0, and I never cease to remind him of that, especially if either of them start to complain about 0dumb0 or taxes or medical care. And to top it off, his company moved him to Kalifornia in 2008, and now he is concerned that he won’t be able to afford to leave, since he bought a gigantic home as well.


14 posted on 06/29/2012 7:12:17 PM PDT by rcrngroup
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To: Kaslin

BTTT


15 posted on 06/29/2012 7:29:26 PM PDT by NELSON111
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To: Soul of the South
The collapse is coming. If Romney is elected, Soros will manipulate the markets to make it happen early in his term. Republicans will be blamed for a generation. Better to leave Obama holding the bag when it happens.

The "Your and F-ing idiot" crowd may leave me alone for a while. Thanks for the cover, FRiend.

:-)

16 posted on 06/29/2012 8:02:51 PM PDT by 5thGenTexan
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To: BobL
My dream is to see all of these tax increases go through - for if THE PEOPLE of the United States want $4T worth of government services, then they should start paying taxes to that effect.

Agreed. The insidious thing about such "tax cuts" is that they merely hidr/postpone what the tax-law really says. Of course "kick it down the road" is the American way, nowadays, so what do we know?

17 posted on 06/29/2012 8:25:12 PM PDT by OneWingedShark (Q: Why am I here? A: To do Justly, to love mercy, and to walk humbly with my God.)
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To: Kaslin

If they put all dissenters in jail (we would have to force the issue) the cost would be so large that they would have to utilize the military to provide tents and buildings and guards.

We on the other hand would have to be willing to give up our remaining freedom for awhile but we could bust the bank. They would have to feed us, cloth us, wash us, provide bedding and free medical while in jail.

If even 10% of us has the guts (I do) we could bring this country’s leaders to their knees. If you want to keep or reclaim our country - are you willing to go to jail to do so? I volunteer myself and WILL do it when the time comes and the opportunity to bust this form of government down and force a return to sanity.


18 posted on 06/29/2012 8:27:57 PM PDT by jongaltsr
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To: jongaltsr

Count me in! I really have nothing to lose. I don’t own a house currently and we’re already on an installment plan with the IRS so I’m not afraid of them anymore. I.will.not.comply with Obamacare and now our taxes will be going through the roof next year, so my golden years just went down the toilet. What the hell can they do to me?

Mrs. Prince of Space


19 posted on 06/29/2012 9:34:17 PM PDT by Prince of Space (Be Breitbart, baby!)
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To: Kaslin

This is a large scale Alyski tactic in play. Back when Rudy was mayor of NY they tried to do this by overlaoding the welfare system with applicants until it collapsed. Here we see it on a larger scale.


20 posted on 06/30/2012 3:06:53 AM PDT by ronnie raygun (B B)
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To: Kaslin

Start reading Atlas Shrugged if you haven’t already, folks. The world in that book is coming very quickly.


21 posted on 06/30/2012 5:26:19 AM PDT by RWB Patriot ("My ability is a value that must be purchased and I don't recognize anyone's need as a claim on me.")
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To: BobL

By allowing the 2003 tax cuts to retire, President Obama will be increasing the bottom rate from 10% to 15% ...
more math here:
Raising the 10% bracket to 15% represents what percentage of increase? Hint: The correct answer is NOT 5%.

Raising the 35% bracket to 39% represents what percentage of increase? Hint: The correct answer is NOT 4%.

Extra credit question: People in which tax bracket will see the largest percentage of increase in their taxes?

Extra extra credit question: People in which tax bracket will see the smallest percentage of increase in their taxes?

To those moving from the 35% to the 39% tax bracket...that’s roughly an 11% increase in taxes.
To those moving from the 10% bracket to 15%, their taxes will be increased by a whopping 50%.

So the low-income people get their taxes raised even more when seen as a percentage. And the rich folks lose a higher magnitude of money, but the percentage compared to what they already make is lower.


22 posted on 06/30/2012 7:28:11 AM PDT by TurboZamboni (Looting the future to bribe the present)
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To: Kaslin
I didn't see this big one listed:

A little known fact of the Obamacare Law (among many other unpleasant surprises in the fine print you can be sure) is a 3.8% tax to be imposed when you sell your home--most people's greatest or only asset. 3.8% to Uncle Sam right off the bat. So how will that tax impact those who are involved in distress sales, who are underwater on their homes?

http://online.wsj.com/article/SB10001424052748704113504575264513748386610.html

23 posted on 06/30/2012 7:31:41 AM PDT by TurboZamboni (Looting the future to bribe the present)
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To: Excellence

SRB


24 posted on 06/30/2012 8:43:31 AM PDT by Excellence (9/11 was an act of faith.)
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To: Kaslin

Last Tuesday President Obama got off the helicopter in front of
The White House - carrying a baby piglet under each arm.
The squared-away Marine guard snapped to attention, saluted and said:

“Nice pigs, sir.” The President replied: “These are not pigs. These are
authentic Arkansas Razorback Hogs. I got one for Secretary of State
Hillary Clinton, and I got one for Speaker of the House Nancy Pelosi.”

The squared-away Marine again snapped to attention, salutes and said,
“Excellent trade, sir.”


25 posted on 06/30/2012 10:57:44 AM PDT by unique1
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To: Prince of Space

See you in the “Klinker”, the “Can”, “Behind Bars” - ya know (JAIL). Bring some cards and plenty of smokes (if you smoke) (if not you can always sell them and get snickers and M&Ms in the mess hall.)


26 posted on 06/30/2012 11:07:55 AM PDT by jongaltsr
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To: TurboZamboni
A little known fact of the Obamacare Law (among many other unpleasant surprises in the fine print you can be sure) is a 3.8% tax to be imposed when you sell your home--most people's greatest or only asset. 3.8% to Uncle Sam right off the bat. So how will that tax impact those who are involved in distress sales, who are underwater on their homes?

http://online.wsj.com/article/SB10001424052748704113504575264513748386610.html

Your link is to a Laffer opinion piece that does not discuss the 3.8% tax that reference.

Can you please provide a link to support your claim.

27 posted on 06/30/2012 11:30:46 AM PDT by Kennard
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To: TurboZamboni

“So the low-income people get their taxes raised even more when seen as a percentage. And the rich folks lose a higher magnitude of money, but the percentage compared to what they already make is lower.”

I really don’t have a problem with that. I’d like THE POOR to start paying their way, a bit, at least, now that they have free health care (along with free food, free housing, and free spending money).


28 posted on 06/30/2012 12:23:47 PM PDT by BobL
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To: LucyT

Ping


29 posted on 06/30/2012 1:20:31 PM PDT by thouworm (.)
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To: thouworm; TheOldLady; WildHighlander57; netmilsmom; tomdavidd; Freeper; Gvl_M3; Flotsam_Jetsome; ...
Image and video hosting by TinyPic

Thanks, thouworm. .

30 posted on 06/30/2012 1:54:56 PM PDT by LucyT
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To: Kennard
Yes, the health law will impose a 3.8 percent tax on investment profits and other non-wage income starting in 2013. But that tax applies only to couples with adjusted gross income of $250,000 (or individuals with AGI of $200,000). About 95 percent of households make less than that, and will be exempt from the law no matter what.

In addition, couples who sell a personal residence can exclude the first $500,000 in profit from tax ($250,000 for singles). That would be profit from a home sale, not proceeds. So a couple that bought a house for $100,000 and sold it for $599,000 would owe no tax, even under the health law.

http://www.forbes.com/sites/beltway/2012/04/02/there-is-no-obamacare-tax-on-most-home-sales-really/

turns out to NOT be true. thanks for having me fact check and throw out an old , irrelevant link.

31 posted on 06/30/2012 1:55:57 PM PDT by TurboZamboni (Looting the future to bribe the present)
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To: Kaslin

And because of these taxes already on the books, the cheaper generic meds you’ve been getting will be axed and an even cheaper generic will be substituted. It’s already happening and those cheaper ones are causing people problems. It’s only going to get worse.


32 posted on 06/30/2012 2:08:55 PM PDT by bgill
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To: Kaslin

Can someone please tell me if this is true. Will Congress and their staff have to get the same healthcare plan as the rest of us? I’ve been going back and forth with a flaming liberal friend of mine.

EC. 1312. CONSUMER CHOICE
(d)(3)
D) MEMBERS OF CONGRESS IN THE EXCHANGE-
(i) REQUIREMENT- Notwithstanding any other provision of law, after the effective date of this subtitle, the only health plans that the Federal Government may make available to Members of Congress and congressional staff with respect to their service as a Member of Congress or congressional staff shall be health plans that are—

(I) created under this Act (or an amendment made by this Act); or

(II) offered through an Exchange established under this Act (or an amendment made by this Act).

(ii) DEFINITIONS- In this section:

(I) MEMBER OF CONGRESS- The term ‘Member of Congress’ means any member of the House of Representatives or the Senate.

(II) CONGRESSIONAL STAFF- The term ‘congressional staff’ means all full-time and part-time employees employed by the official office of a Member of Congress, whether in Washington, DC or outside of Washington, DC.


33 posted on 06/30/2012 2:14:07 PM PDT by Beave Meister (Die Hard Cubs Fan.....if it takes forever.)
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To: TurboZamboni

Thanks for that! I will definitely be using that info.


34 posted on 06/30/2012 2:22:51 PM PDT by yellowhammer
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To: RWB Patriot; Kaslin
Start reading Atlas Shrugged if you haven’t already, folks. The world in that book is coming very quickly.

I can see Starnesville from here!

35 posted on 06/30/2012 3:08:51 PM PDT by thecodont
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