Your taxes and Obamacare

[Destroyer]

Franco, great post
Unfortunately that's an opinion, not facts, written by a blogger (Mr. McCarthy), about his take on the health care bill. Truthfully, since I have not read all 2000 pages of the bill, I cannot, for the most part, say where what he says is truth, fiction, or something in between. I can say with certainty that his last sentences on the tanning booth tax are factual, (since I just read that part of the bill this afternoon).

It's true, everytime you go to a tanning booth you're now going to be charged an additional 10% of the total bill as a "tanning tax" for exposing yourself to the possibilities of getting skin cancer sometime in the future. It's just another new tax hiding under the disguise of "making people pay for their fair share" I wonder what's going to be next.. a users tax when you go to the beach? (Because after all, you get a tan there also...so you should have to pay for exposing yourself to skin cancer there as well) They are going to tax you in ways you haven't even contemplated yet, all under the guises of "protecting you" and "it's for your own good".

But his opinion that over the next decade, the drug companies and medical device makers will need to be taxed to help pay for the extra business they’ll pick up, selling their products to 30 million newly-insured Americans, is nothing short of pure rubbish. (And more than a little confusing). WHY will the drug and device companies need to pay new taxes if they get new customers and HOW will new taxes "help pay" for new customers? What's the matter with the taxes they are already paying? (Oh, don't worry, there will be new taxes all right, since the government wants and needs the billlions of dollars in new revenue). Just remember CORPORATIONS DO NOT PAY TAX!!!!..they simply increase the price of their goods to the consumer by the amount of the additional tax. It is we, the consumers, that pay any new tax on a business. This notion that there will suddenly appear 30 million new customers is complete garbage. It's estimated that only 27 million people are without health insurance in the US right now, and over 60% of them are without insurance willingly. So where are those 30 million people going to come from? That's implying that 30 million people right now do not buy drugs or medical devices. Which of course is complete rubbish. No one in the US is denied health care right now, no one is denied drugs or medical devices BY LAW. So where do they get that 30 million new people figure from? It's smoke and mirrors.

Mr. McCarthy also states that health insurers also stand to gain millions of new customers as a result of reform. Again, that's pure Obama propaganda bullsh_t. Obama has stated in both his books and publicly when he was a Senator that he favors a single provider health care plan.. In other words, he wants the US government to be your health care provider.... and everything he has done so far is working towards the goal of putting all the private insurers out of business.

The health care bill will NOT raise revenues from these companies to the tune of about $67 billion over ten years....in fact it will destroy them. Several companies have already told their employees that they will not be providing them with private health care coverage starting in 2012.. the most notable one being McDonalds. They are moving their employees into the public health care program. As time goes forward, you'll see more and more of that happening as companies seek to avoid the additional taxes that are being placed on them for the private insurance they are providing to their employees. And as that happens, the small private insurance companies will, one by one, go out of business.

My opinion is that Mr. McCarthy's opinions are biased, nonfactual and should be taken with a grain of salt. He's simply touting the far left party line.

[Road King Cole]

Note to self:

"please refrain from shopping at Macy's next year".

[Destroyer]

Just a quick note to everyone:

Although I'm sure that we all are passionate in our opinions and beliefs, please remember that this is a discussion, a forum for ideas, not a fight. Nothing that is said here should ever be thought of as trying to hurt or anger anyone.

[RWilson2526]

Originally Posted by Road King Cole

Note to self:

"please refrain from shopping at Macy's next year".

Dont fear RKC you wont be seein anything bad in Macy's window next year because those guys couldnt be more wrong on this one.

[spareparts]

Just met with my tax guy over the weekend. I asked him about the inclusion of insurance as part of you reported income. Gues what, he showed the clause to me in writing in the federal tax change for 2010 book. Its a fact, for 2010 taxes, comapny provided insurance will be taxed as income. He said there are several issues that still arn't finialized, he has a IRS school to attend later in the year to address these issues. Sounds like they are expecting some changes. I have differing opinions on this subject as I pay for my insurance and the insurance for my children out of pocket. Its the biggest single payment out of my pocket each month, it excededs my house payment by a large margin. Luckily, my wifes company pays for her insurance, if they didn't, my premiums would double just to include here. Its great that company's provide insurance, but i see it as a way for compensating without taxes. We all complain about the big wheel execitives getting all those percs and compensations that aren't taxed. kinda falls in the same catagory to me. Regarless of what comes out of this, we are preparing to pay more taxes for 2010. I'd rather be proven wrong and get money back than be right and pay more.

BTW, the biggest issue surounding the new tax lay that got my attention was when I made the comment that I couldn't believe the unions would vote in someone who taxed their benefits, he replyed "Some Unions benefits are exempt" he didn't tell me which ones, but I'm guessing UAW leads the way

[jeffmo]

if unions are exempt i haven't heard about it from the IAFF.
here's what i found when i looked it up.not saying snopes or any of the other articles are the gospel,just what i've found.


http://www.snopes.com/politics/taxes/HR3590.asp

http://www.factcheck.org/2010/05/hea...and-w-2-forms/

http://politifact.com/truth-o-meter/...nce-pay-taxes/

[spareparts]

He didn't say all unions, just some of them. Sounds pretty fishy to me. Tax some of the people, but not all of them? The book he showed me was printed by the IRS. I don't think any of this is in concrete. He said he was fully expecting revisions and updates all the way till the end of the year, we'll see what happens next year at tax time.

[jeffmo]

i think the healthcare bill will be tweaked before it's finalized.

[reelapeelin]

Does anybody here believe the D.C. cops and the American military would fire on American citizens if enough of us clogged the streets of D.C. as has recently happened in Egypt?...BTW, I commend the Egyptian military for keeping their cool...so far.

Not just Obamacare, but all the incredibly wasteful directions our money is sent is the real problem...Obamacare is only one spoke of the wheel...the status-quo of the present political scene (left & right) is the REAL problem...

[RidgeRunner]

The tax tables just arrived. Average working class man gets $10 to $12 per week less in his take-home pay. Average meaning someone making between $28k and 36k per year. Federal Withholding just went up. That will hurt some more than others. Still nothing concrete about Obamacare for the business.. The CPA drilled us about who has coverage and who does not. My guess is the IRS is taking a survey, again...
Just saw Congress talking about the Constitutionality of Obamacare last evening. One elderly gentleman on the panel said, "If the guberment is forcing all people to pay for Health Care, that is Not Unconstitutional." -- WTF HUH?