RE: Ring in the New Year with your New Healthcare Taxes - Liberals? - Enjoy !

Breitfart? really? that fraud commiting corpse?Lew. You're better than that.Well, maybe not.
 

> Date: Fri, 28 Dec 2012 03:48:24 -0800
> Subject: Ring in the New Year with your New Healthcare Taxes - Liberals? - Enjoy !
> From: lewcoop@aol.com
> To: opendebateforum@googlegroups.com
>
> Ring in the New Year with your New Healthcare Taxes - Liberals? -
> Enjoy !
>
> biggovernment.com
> by Breitbart News28 Dec 2012, 2:26 AM PDT
>
>
> Most of the new healthcare taxes will fall on high income earners, but
> the middle class and medical device industry will also take a hit.
>
> Directly impacting taxpayers is the Medicare tax hike on high income
> wage earners, higher taxes on investment income, lower contributions
> to flexible spending accounts and a higher threshold for deducting
> medical expenses from income tax.
>
> The Affordable Health Care Act is funded through the Medicare taxes of
> high income earners. These taxes hit individuals earning over
> $200,000, and joint filers earning more than $250,000. Medicare taxes
> will go up by .9% for these folks and they will be hit with an
> additional 3.8% on unearned income.
>
> Also hit will be folks who earn a greater share of their income from
> investments. Even if their regular income isn't high enough for the
> additional taxes, their investment income would be hit with an
> additional 4% tax. The consequence will most likely be less
> investment.
>
> The cost of the Affordable Healthcare Act will not just hit the
> "rich." Two new taxes will affect the middle-class. Taxpayers used to
> be able to deduct health care expenses that total more than 7.5% of
> their income. Starting in 2013, that threshold will rise to 10%. This
> deduction is most often utilized by lower income earners with high
> medical bills.
>
> According to Lindsey Buchholz of the H&R Block Tax Institute, about 10
> million taxpayers deduct around $80 billion in health care expenses a
> year.
>
> The second of the two middle class taxes is a limit on flexible
> spending accounts. Previously there was no limit to what an individual
> could contribute in pre-tax dollars, but now contributions will be
> limited to $2500. These two provisions are expected to raise $40
> billion of the next 2 years.
>
> The medical device tax, and addition 2.9% tax on medical devices, is
> expected to raise $29 Billion over the next ten years. Unlike other
> taxes that can be passed on to the consumer, Medicare is the largest
> purchaser of medical devices; Medicare doesn't function in a free
> market where companies are able to pass the costs on to consumers. The
> industry will have no choice but to absorb the costs by cutting the
> work force or reducing their output.
>
> Happy New Year!
>
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