My wife is working on some of this stuff now for her employer. It is a giant nightmare to understand. Her employer generously pays most of the health insurance costs of its employees and their families. The average employer-paid health benefit is around $1,000 per month.
Under Obamacare, that apparently gets reported as income now and either we will have to pay federal income tax on it, $280 per month, or the emplyer must absorb the additional cost. The employer cannot absorb the additional cost.
The tax penalty will be, I think, $2,500 a year or just a bit less than the taxable portion of the health insurance benefit. In other words, as designed, it is cheaper for Americans to switch to Obamacare and collapse the insurance industry (and its millions of jobs) and collapse the medical industry (which the government will have no choice but to benevolently take over).
In any event, when fully implemented, there will be riots across the land. Idiots voted for other idiots and had no clue what was about to smack them across the face. The largest tax increase in American history. And that tax increase will be on top of the other tax increases that are coming (such as letting the Bush tax cuts expire).
The Democrats successfully implemented a plan to collapse the system from within to make the Marxist ideal fully operational in America. They succeeded.
The time for voting is over. Ignorance won out at the polls. The only recourse for the ignorant masses will be violence.
I will be sitting back with a big bag of popcorn watching that event with a huge smile.
But supposedly, the reporting of health care costs paid on behalf of employees was only to verify that coverage is provided... not that it would be taxable....
I'm going to contact my Congressman and pick his brain (if there is any left after this crappy election).
Better check that tax on healthcare provided by employer - supposedly the law will tax so-called “Cadillac” plans - those provided by employers that cost over $27K per year.
WE don’t need to go off ranting about taxes on healthcare benefits before we get this straight. WE damage our credibility when we waste energy, anger, and resources on such things. (and I know that snopes is Leftist):
http://www.snopes.com/politics/taxes/HR3590.asp#f7XlF1w8Q4a2wR4T.99