Re: $1 Trillion Obamacare Tax Hike Hitting on Jan. 1

THE TAXES ARE FIOR YOU ALSO LARRY. - ENJOY.

On Dec 29, 11:56 am, Larry Talbot <larry.tal...@hotmail.com> wrote:
> I can't wait. The Conservative's Nutsacks are already crawling back up into their abdomens.
>  > Date: Sat, 29 Dec 2012 04:17:04 -0800
>
>
>
> > Subject: $1 Trillion Obamacare Tax Hike Hitting on Jan. 1
> > From: lewc...@aol.com
> > To: opendebateforum@googlegroups.com
>
> > $1 Trillion Obamacare Tax Hike Hitting on Jan. 1
> > drudgereport.com
>
> > On January 1, regardless of the outcome of fiscal cliff negotiations,
> > Americans will be hit with a $1 trillion Obamacare tax hike.
>
> > Obamacare contains twenty new or higher taxes. Five of the taxes hit
> > for the first time on January 1.  In total, for the years 2013-2022,
> > Americans face a net $1 trillion tax hike for the years 2013-2022,
> > according to the Congressional Budget Office.
>
> > The five major Obamacare taxes taking effect on January are as
> > follows:
>
> > The Obamacare Medical Device Tax:  Medical device manufacturers employ
> > 409,000 people in 12,000 plants across the country. Obamacare imposes
> > a new 2.3 percent excise tax on gross sales – even if the company does
> > not earn a profit in a given year.  In addition to killing small
> > business jobs and impacting research and development budgets, this
> > will increase the cost of your health care – making everything from
> > pacemakers to artificial hips more expensive.
>
> > The Obamacare Flex Account Tax: The 30-35 million Americans who use a
> > pre-tax Flexible Spending Account (FSA) at work to pay for their
> > family's basic medical needs will face a new government cap of $2500.
> > This will squeeze $13 billion of tax money from Americans over the ten
> > years. (Currently, the accounts are unlimited under federal law,
> > though employers are allowed to set a cap.)
>
> > 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 several million 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 tax provision will limit the options available to these
> > families.
>
> > The Obamacare Surtax on Investment Income: This is a new, 3.8
> > percentage point 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:
>
> > Capital Gains
>
> > Dividends
>
> > Other*
>
> > 2012
>
> > 15%
>
> > 15%
>
> > 35%
>
> > 2013+ (current law)
>
> > 23.8%
>
> > 43.4%
>
> > 43.4%
>
> > The table above also incorporates the scheduled hike in the capital
> > gains rate from 15 to 20 percent, and the scheduled hike in dividends
> > rate from 15 to 39.6 percent.
>
> > The Obamacare "Haircut" for Medical Itemized Deductions: Currently,
> > those Americans facing high medical expenses are allowed a deduction
> > to the extent that those expenses exceed 7.5 percent of adjusted gross
> > income (AGI).  This tax increase imposes a threshold of 10 percent of
> > AGI. By limiting this deduction, Obamacare widens the net of taxable
> > income for the sickest Americans.  This tax provision will most harm
> > near retirees and those with modest incomes but high medical bills.
>
> > The Obamacare Medicare Payroll Tax Hike:  The Medicare payroll tax is
> > currently 2.9 percent on all wages and self-employment profits.  Under
> > this tax hike, wages and profits exceeding $200,000 ($250,000 in the
> > case of married couples) will face a 3.8 percent rate instead. This is
> > a direct marginal income tax hike on small business owners, who are
> > liable for self-employment tax in most cases. The table below compares
> > current law vs. the Obamacare Medicare Payroll Tax Hike:
>
> > First $200,000
> >  ($250,000 Married)
> >  Employer/Employee
>
> > All Remaining Wages
> >  Employer/Employee
>
> > Current Law
>
> > 1.45%/1.45%
> >  2.9% self-employed
>
> > 1.45%/1.45%
> >  2.9% self-employed
>
> > Obamacare Tax Hike
>
> > 1.45%/1.45%
> >  2.9% self-employed
>
> > 1.45%/2.35%
> >  3.8% self-employed
>
> >  Click here for a PDF of this document
>
> > Read more:http://atr.org/trillion-obamacare-tax-hike-hitting-jan-a7393#ixzz2GRU...
> >  Follow us: @taxreformer on Twitter
>
> > --
> > You received this message because you are subscribed to the Google Groups "Open Debate Political Forum IMHO" group.
> > To post to this group, send email to OpenDebateForum@googlegroups.com
> > To unsubscribe from this group, send email to OpenDebateForum-unsubscribe@googlegroups.com
> > For more options, visit this group athttp://groups.google.com/group/OpenDebateForum?hl=en
> > ---
> > You received this message because you are subscribed to the Google Groups "Open Debate Political Forum IMHO" group.
> > To post to this group, send email to opendebateforum@googlegroups.com.
> > To unsubscribe from this group, send email to opendebateforum+unsubscribe@googlegroups.com.
> > Visit this group athttp://groups.google.com/group/opendebateforum?hl=en.
> > For more options, visithttps://groups.google.com/groups/opt_out.

--
You received this message because you are subscribed to the Google Groups "Open Debate Political Forum IMHO" group.
To post to this group, send email to OpenDebateForum@googlegroups.com
To unsubscribe from this group, send email to OpenDebateForum-unsubscribe@googlegroups.com
For more options, visit this group at http://groups.google.com/group/OpenDebateForum?hl=en
---
You received this message because you are subscribed to the Google Groups "Open Debate Political Forum IMHO" group.
To post to this group, send email to opendebateforum@googlegroups.com.
To unsubscribe from this group, send email to opendebateforum+unsubscribe@googlegroups.com.
Visit this group at http://groups.google.com/group/opendebateforum?hl=en.
For more options, visit https://groups.google.com/groups/opt_out.