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Sunday, December 30, 2012

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

No Shit Sherlock. I'm willing to pay my fair share, too bad your a greedy old bastard.
 
> Date: Sun, 30 Dec 2012 11:37:47 -0800
> Subject: Re: $1 Trillion Obamacare Tax Hike Hitting on Jan. 1
> From: lewcoop@aol.com
> To: opendebateforum@googlegroups.com
>
> 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
> >
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