Skip to comments.And The Hits Just Keep On Coming - Brought to You By - ObamaCare
Posted on 09/06/2010 5:47:52 AM PDT by Rashputin
A few months ago I noted that, in my opinion, Obama and his administration, with the passage of his healthcare plan (aka Obamacare), had openly declared war on the American people. For those of you who may still doubt that, or may still be so delusional as to still be clinging to that "Hope and Change" lie as to disagree with the opinion, please continue to read:
The following may be verified by going to http://www.thomas.gov/, enter "HR 3590" in the search box and look for "CRS Summaries." This is what you'll find:
Title IX Revenue ProvisionsSubtitle A: Revenue Offset "(Sec. 9002) Requires employers to include in the W-2 form of each employee the aggregate cost of applicable employer-sponsored group health coverage that is excludable from the employee's gross income(excluding the value of contributions to flexible spending arrangements)."
Once you get to the CRS Summaries, scroll all the way down to (what they have labeled as Title but is little more than a section) Title IX and then to the paragraph labeled as Sec. 9002" what this means to you is that starting in 2011 - next year - the W-2 tax form sent by your employer will be increased to show the value of whatever health insurance you are provided. This means that now the government will tax the employer for those dollars spent to match or provide its employees with health coverage and then it will take those same dollars the employer sent straight to the health plan and add those dollars to your taxable income, even though you never got a penny of it, and now you get to pay taxes on money you never received, and most likely, pay taxes at a much higher rate because the added income will bump you into a higher bracket.
Do you get it yet? One of the reasons we fought our first revolution was because of taxation without representation. Now, it is back. What are we to do but realize that this administration and every politician who voted for and supports this horror are declaring openly their hatred and contempt for the American people.
It doesn't even matter if you're retired. Your gross income WILL go up by the amount of insurance your employer paid for. So youll be required to pay taxes on a larger sum of money that what you actually received. Try taking the tax form you just finished filing for 2009 and see what an additional $15,000.00 or $20,000.00 gross income does to your tax debt.
Now understand, THAT is what you'll pay next year. Also, because of the new increased tax brackets, it will be a double hit for Americans as it will put almost all of us into a higher bracket.
This is how this abomination of an administration is going to buy insurance for the scant fifteen (15) percent that don't have insurance and it's only part of the tax increases . . . oh, excuse me, its not a tax increase because they have figured out, or think they have (they really are contemptuous of Americans) that it wont be noticed as a tax increase because its a redefinition of your taxable income.
Add to this, another insult to the already wounded We the People , staggering from the almost
22% unemployment the boast from Obama that his heathcare is a human rights victory even while it mandates that to be a free American you will purchase healthcare or you will pay a penalty (fine collected by the IRS) and if you do not pay the fine, you will go to prison.
In a release from the CATO Institute:
In a podcast from Michael Cannon, director of Cato's health policy studies, on why ObamaCare is NOT the human rights victory Obama is claiming it to be. In fact, Cannon claims that the individual mandate is truly an affront to human rights, a point that candidate Obama understood when debating Hilary Clinton in 2008.
"Ironic that the Obama administration is citing THIS as an example of progress on human rights. Because for the first time in Americas history you could be put in jail for not purchasing a health care policy.
How can you not believe this is war? How can you not believe this pompous, arrogant, elitist socialist tyrant is trampling the Constitution, attacking the very people he was elected to represent, giving aid and comfort to Americas enemies and doing his best to destroy the country? Are not each of these acts listed specifically in the Constitution as being the very definition of treason? Why are we not outraged and exercising what few rights we still have
I know, I know, we are all playing the waiting game; we are waiting for the November elections. And what if the elections do not restore balance to our government? Are we already so brainwashed into submission to authority that we have no free will left with which to throw off the bonds of slavery being imposed upon us by the descendents of the very ones, the democrats who fought against the first emancipation of slaves in America? How will you answer this call to alarm? Will you stand with your fellow Americans against this or will you submit to the tyrannies of this hope and change which crushes us while smiling and insisting it is for our own good?
I will keep saying, Obama, his administration, each and every czar he has appointed, with every Executive Order he signs, every bill and law passed by a Congress and House that are not even read by those who vote to pass them, politicians who are above being touched by the very bonds they place upon We the People, all of this and more is nothing less than WAR against America, and I will continue to ask: ARE YOU READY?
what about the word “excludable?” are you taking that into consideration?
Too bad this is not true.
Too bad this is not true.
AND (does it?) this means retirees like my parents will see a W-2 for the first time in years, perhaps, and take a hit in their social security payments cuz their ‘income’ is now too high????
My dad is from the generation of 35 years with one company and nice retiree benefits and pensions.
Why the blanket “not true”? What do you have to the contrary? At least this post has a citation.
This really is concerning for my parents ‘cuz of the “... it doesn’t even matter if you’re retired. Your gross income WILL go up by the amount of insurance your employer paid for. So youll be required to pay taxes on a larger sum of money that what you actually received. Try taking the tax form you just finished filing for 2009 and see what an additional $15,000.00 or $20,000.00 gross income does to your tax debt.”
Curious, sincerely why you say not true.
Yes, as ready as I’m ever going to be.
What we DO need is a 300k-500k person march to the location where some administrator (or board members) either in schools or business tells a conservative to shut up. The entire place needs to be shut down until the supervisors (and/or board members) doing that are terminated or flee. Now, THAT would be effective. Anything else is poppycock and is being stirred up by someone in the health insurance industry trying to lobby for their financial rights.
Employer-Provided Health Coverage Not Taxable Starting in tax year 2011, the Affordable Care Act requires employers to report the value of the health insurance coverage they provide employees on each employee's annual Form W-2. This reporting is for informational purposes only, to show employees the value of their health care benefits so they can be more informed consumers. The amount reported does not affect tax liability, as the value of the employer contribution to health coverage continues to be excludible from an employee's income and it is not taxable.
The information you presented has been making the rounds on e-mail for months. Don’t feel too bad, I have friends who are normally very reliable and very well-informed falling for this. It’s just not true that the benefits will be taxed as ordinary income. Think about it: if it were true, do you think the republicans running for office this fall wouldn’t have seized upon it and made it the centerpiece of their argument for repeal? This tax would push some people’s tax liability through the roof.
I would have no problem if company paid health insurance were taxable. It would level the playing field for the self employed, who...if they purchase HI...do so with taxed income.
I didn’t present it, the poster did. I am just seeking the usual FReeper double confirmation. But thanks!
Good point, but that isn’t what’s being discussed.
I accept that this isn't yet going to be taxed, but I don't accept that it will not be taxed as income and is placed on the W2 just for information purposes. At some point, anything above a “fair” amount on that line of the form will be taxed. Then, your theoretical $21,000 will show the ‘fair’ $12,000 deducted and the balance added to the money you stole from the masses and must make restitution for.
have a nice day
I get you. Didn’t intend to say you were the originator.
IF the 'cadillac' plan tax ever goes into effect, some people MAY get hit with a higher tax bill. That is years away and hopefully will never happen if we can convinve enough people, BASED ON FACTS, to repeal this monster.
Well, that makes this article a double gem since it gives you a chance to dispel a widely held misconception or deception. You're welcome.
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