Seniors get [edited] again - Health Bill Taxes Annuity Income 3.8% tax

Vanity | 3-29-2010 | Frantzie

[Frantzie]

Gramps got an email that his annuity income will have a 3.8% tax added. The Health Care "Reform" Bill will have a 3.8% Medicare contribution on income received from annuities.

[Frantzie]

Nice job by the seniors who voted for O plus voted for McCain who gave us McCain-Feingold which help give Dems control of the government.

[Timeout]

That’s HUGH.

Do you now how many seniors have annuities?!!

[Gaffer]

It’s a pretty damn odd thing that a policy, annuity or term aside, once claimed (i.e., payment trigger term reached) still requires a premium...Imagine an insurance company demanding a policy payment after the death of the insured?

[KarlInOhio]

Fortunately they all have incomes of $250,000 or more, so Obama didn’t break his campaign promise of not raising taxes on the lower and middle classes, right?

[Portcall24]

Thanks AARP! You did a great job looking out for us.

[chickadee]

Hopefully, this tax will kick in right away so the seniors can be good and mad by November. One source of my income is an annuity, so I will know when it happens (as if I am not angry enough with the loss of liberty Obamacare brings, now it will be loss of income, too.) grrrrr

[Frantzie]

Tons.

http://www.dailyfinance.com/story/retirement/a-hidden-tax-on-annuities-lurks-in-the-health-care-reform-law/19417917/

Nice job by seniors and baby boomers who voted for Obama. You are really gonna get screwed.

Also thank McCain for McCain-Feingold that put the Dems in control.

[Frantzie]

$200,000 for singles and $250,000 for married but they will probably drop it to $100,000 or les.

[Marty62]

Does this include the reverse mortgage thing?

[tgusa]

My thoughts exactly. How’s that hopey-changey thing workin out for ya? Every - EVERY - car with a 0 sticker on it around here is either driven by a senior or a minority.

[vigilante2]

Didn't barry say he would give tax breaks to people who draw on their annuities because of the economy?

[ColdWater]

Nice job by the seniors who voted for O

Seniors voted for Bush.

[goodnesswins]

I know “seniors” who voted for Obama...

[goodnesswins]

Where? did Gramps get this email from...the company paying the annuity? Inquiring minds need to know...

[crosshairs]

And the hits just keep on comin.

[verity]

I can only wish my retirment income was equal to your grandfathers.

[Little Bill]

I do, I did an IRA roll over with a floor rate and no upside limit on interest, insured. It ain't much $300k, but with the interest, Socalist Security, some semigood interest from some CD’s, and stock dividends, I don't eat dog food, yet. How is this to effect me?

[BenKenobi]

FUBO!

And Americans take it in the ass once again.

[Frantzie]

This is not Gramps retirement income but he heard from friends that it may drop to where seniors and baby boomers will be taxed if their income is as low as $35,000.

[Frantzie]

His agent.