O-care – It’s a Big F***ing tax.

Too Conservative

The new Obamacare-tax will force Americans to buy the government sanctioned insurance. But, don’t worry… If you don’t buy the insurance you can just pay the penalty of $2,085 a year per family or 2.5% of your income – whichever is greater.
Business Insider reported:

Here’s where wealthier Americans will feel the effects of Obamacare. As of Jan. 1, 2013, a 3.8 percent surtax will be levied against surplus investments reported by the following groups: single filers reporting $200,000; married couples reporting $250,000; and married couples filing separately reporting $125,000.

In addition to the investment surtax, high-earning households will see their Medicare tax spike by 0.9 percent on their earned income, according to the Kaiser Family Foundation. The tax will apply to individuals earning more than $200,000 and married couples filing jointly who make more than $250,000. It goes into effect Jan. 1, 2013.

Consumer penalties: Part of the controversy surrounding health care reform was that the law would mandate coverage for all Americans on pain of penalties. Those penalties will be tiered and rise over a three-year period that kicks off in 2014, according to the National Association of Consumer Protection:

2014: Families––$285 or 1 percent of total household income, whichever is greater. Individual adults––$95.
2015: Families––$975 or 2 percent of income, whichever is greater. Individual adults––$325.
2016: Families––$2,085 or 2.5 percent of income, whichever is greater. Individual adults––$695.

If you’re not covered by your employer, you’ll have to pick from a list of government-mandated health insurance packages (they’ll be called “exchanges”, with options for individuals and businesses provided at the state level). Some exceptions do apply, including low-income families who can prove financial hardship.

Flex spending account limits: In addition to capping Flexible spending accounts at $2,500 in 2013, new rules limiting what you can buy with flex accounts will remain. They’ve been effective since Jan. 2011 and apply to OTC medications unless you have a prescription, excluding the following: “Insulin, even if purchased without a prescription, or other health care expenses such as medical devices, eye glasses, contact lenses, co-pays and deductibles,” per the IRS.

Employee health coverage: Part of the Affordable Care Act’s intent is to ensure that businesses choose low-cost plans, which it hopes to accomplish by levying an excise tax on plans that cost more than $10,200 per individual or $27,500 per family. That provision isn’t in effect until Jan. 1, 2018.

“The threshold amounts may be adjusted upwards if health care costs rise more than expected prior to implementation of the tax in 2018,” Kaiser notes. “The threshold amounts will be increased for firms that may have higher health care costs because of the age or gender of their workers.”

Pharmaceutical industry: Pharmaceutical manufacturers will see a spike in annual government fees. Much like penalties against consumers, these fees will be levied on a tiered schedule beginning in 2012, according to Kaiser.

– $2.8 billion in 2012-2013;
– $3.0 billion in 2014-2016;
– $4.0 billion in 2017;
– $4.1 billion in 2018; and
– $2.8 billion in 2019 and later.

There’s more here.

 

 

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  1. What a fustercluck.

  2. In Europe the average Joe circumvents a lot of this crap by doing black work after hours. Can’t say I blame ‘em. Anything better than feeding the beast.

  3. Obamacare: Seven New Taxes on Citizens Earning Less Than $250,000

    [..]

    The fifth new tax on the middle class, and all Americans, is the Health Savings Account (HSA) Withdrawal Tax Hike. This provision increases the additional tax on non-medical early withdrawals from an HSA from 10% currently to 20% beginning in 2013. This provision actually sets these accounts apart from Investment Retirement Accounts (IRA’s) and other tax advantaged accounts, all of which remain with a 10% early withdrawal tax.[..]

    There are thirteen other taxes that apply to businesses and that apply to high income (over $250,000 per year) households. While these additional provisions will not impact the middle class directly, they can have serious indirect consequences for middle and low income earners. Beginning in 2014, the Employer Mandate Tax will impose an annual non-deductible tax on employers with more than 50 employees who do not provide health insurance for their employees. [..]

    The Surtax on Investment Income for households earning $250,000 and more, beginning in 2013, will raise the Capital Gains Tax from 15% to 23.8% on investment income for these households and will raise Taxes on Dividends from 15% to 43.4% for the same households. Aside from the impact on retired citizens dependent on dividends, this provision will pull income from the private economy. In addition, the tax rate on Other Investment Income earned by Subchapter S Corporation (which many small business are organized as, allowing the owners to claim all business income as personal income) will rise from 35% to 43.4%. This part of the provision would place additional pressure on small businesses resulting in more layoffs and less hiring, impacting all American workers.

    HERE IS THE REAL KICKER:

    These are the facts. It does not matter if you support Mr. Obama and his new law or if you oppose it, the new taxes on the middle class or real and all Americans should understand their impact on their families and the economy. Citizens, regardless of political beliefs, should recognize that Obamacare was passed with almost no sunlight shined on these middle class tax increases and need to understand that the new law was sold with the promise that there would be no new middle class taxes. This is not partisan, it is simply the reality of politics.

    Romney needs to repeat that there will be 7 new taxes over and over. He needs to have people who pay taxes and yet have low incomes as part of an ad where they list the new taxes they will have to pay and perhaps compare them to their present insurance premiums if the insurance premiums are less than the total of the taxes. I think Romney can get elected by the votes he will gain from those who want Obamatax repealed (and it should ALWAYS be called Obamatax or Obamahealthtax from now on) IF he can be strong and passionate against this tax and offer an alternative to Obamahealthtax of his own.

    http://www.breitbart.com/Big-Government/2012/06/29/Seven-new-taxes

  4. Romney really need to win. We are finished as a Nation if he doesn’t.

  5. Leftism is a dead end. There is no way the economy can survive this. No new jobs will be created if that affirmative action fraud gets reelected, and the obamatax will cripple many. Congratulations lefties. Reelect resident Obama and you will have destroyed this country.

  6. #5 June 29, 2012 at 10:32 am
    Ella commented:

    Leftism is a dead end. There is no way the economy can survive this. No new jobs will be created if that affirmative action fraud gets reelected, and the obamatax will cripple many. Congratulations lefties. Reelect resident Obama and you will have destroyed this country.
    ________________

    I have to say, with the Fourth of July coming, I have nothing to celebrate under this administration. I blame the voters in 2008 and the media. They never vetted Obama and his past. I can only hope that we can get Obama out of office, and then I want to see his gloat.

  7. BTW, sorry, I love my country and I support our troops. I love the freedom we still have.

  8. I put this information on my fb page. I usually refrain from politics on the stupid thing but this law is completely insane.
    The myth that healthcare will be free absolutely need bright white hot light.
    I really don’t care about the politics of the thing, killing the free market in health care necessarily skyrockets the cost.

  9. ot sort of.

    It’s One Battle – STEP UP!

    {..}
    Elections are the primary constitutional vehicle through which WE the People drive the direction of government at every level. But elections DO NOT belong to the government, local, state or federal. Elections DO NOT belong to the parties, red or blue and both hopelessly corrupt. Elections DO NOT belong to the unions, however well- funded these Neanderthals may be.

    November may well be our last chance to take back our republic peacefully. Don’t miss this chance. After that the cost will be exponentially higher. Elections belong to the American People. It’s TIME TO TAKE THEM BACK. This November may well be our last chance to restore the constitutional republic peacefully. DON’T BLOW THIS CHANCE.

    They’re already trying to steal this election through every means possible. DON’T LET THEM. STAND UP. STEP UP. TAKE BACK WHAT’S RIGHTFULLY YOURS BY THE GRACE OF GOD ALMIGHTY. HOOAH!

    MAKE A DIFFERENCE NOW. And STEP UP.

    http://www.politijim.com/2012/06/its-one-battle-step-up.html

    THEY ARE FEW BUT WE ARE MANY. OUR NATION BELONGS TO US. IF WE ALLOW THIS TO CONTINUE FOR 4 MORE YEARS WE ARE NOTHING. WE WILL BECOME POORER AND LESS SECURE.

  10. Patty I am with you. I WILL NOT pay for the homosexuals and Islamists to abort each other and get their little African teeth cleaned, even if I did make 250 grand a year.

  11. Lean Forward Amerika!

  12. Bend over America, here comes socialism’s fascist nightstick of health care for the poor.

  13. You MUST pay but what will you get when in need of medical service….?….All this $2,000 will go into general fund accounts to be stolen by politicians just like Social Security. …and if as a fetus you are examined to be a big healthcare risk…you won’t make it out of the womb.

  14. And remember this:

    Democrats expressing buyers’ remorse on Obama’s healthcare law
    04/19/12

    An increasing number of Democrats are taking potshots at President Obama’s healthcare law ahead of a Supreme Court decision that could overturn it.

    The public grievances have come from centrists and liberals and reflect rising anxiety ahead of November’s elections.

    “I think we would all have been better off — President Obama politically, Democrats in Congress politically, and the nation would have been better off — if we had dealt first with the financial system and the other related economic issues and then come back to healthcare,” said Rep. Brad Miller (D-N.C.), who is retiring at the end of this Congress.
    {…}

    More here:
    http://thehill.com/blogs/healthwatch/politics-elections/222719-democrats-buyers-remorse-on-obama-health-care-law

    NOW THEY ARE GLOATING AND THEY HAVE IN MY OPINION BROKEN THEIR OATH TO THE AMERICAN PEOPLE. THEY CREATED A BATTLE BUT BY STEPPING UP AND VOTING THE ALL OUT OF OFFICE, WE WILL WIN THE WAR IN NOV.

    Obamatax, if we refuse what will IRS do, there are many jobs in this department if you are looking. They will need many to enforce this tax.

    So, instead of creating private jobs, Obama is creating public jobs. He has been lying through his teeth and has passed off to the American people a BAD BILL OF GOODS.

  15. Obummagumma thugs have initiated a coup against America by threatening the lives of Justice Robert’s family. This is becoming more and more well documented.

    http://astuteblogger.blogspot.com/2012/06/why-did-roberts-switch-his-vote-was-he.html

  16. SPECULATION: THIS IS MERELY A GAMING SCENARIO: IF OBAMA THREATENED TO KILL CHELSEA, THEN MIGHT HE THREATEN A JUSTICE OF THE SCOTUS TO SAVE OBAMACARE?

    BETTINA VIVIANO CLAIMS THAT IN 2008 OBAMA CRONIES THREATENED TO KILL CHELSEA TO GET THE CLINTONS TO BACK DOWN FROM USING THE BIRTHER ALLEGATIONS AGAINST OBAMA.

    IF THIS IS TRUE – REPEAT IF, THEN IT IS EQUALLY POSSIBLE THAT THESE SAME CRONIES MIGHT THREATEN TO KILL ONE OF CHIEF JUSTICE ROBERTS’ CHILDREN IN ORDER TO GET HIM TO VOTE FOR OBAMACARE.

    THE QUESTIONING ON THE SECOND DAY LED SOME SCOTUS OBSERVERS TO BELIEVE THAT ROBERTS SEEMED MORE LIKELY THAN KENNEDY TO BE A SWING VOTE.

    IOW: ROBERTS – AND NOT KENNEDY – MIGHT BE THE FIFTH VOTE FOR OBAMACARE.

    THIS WOULD EXPLAIN WHY OBAMA MADE HIS SEEMINGLY IGNORANT AND TYRANNICAL ATTACK AGAINST THE SCOTUS.

    OBAMA AND HIS COMRADES KNOW – (BECAUSE OF THE DEATH THREAT) – THAT THEY WILL WIN A 5-4 DECISION, AND BY LAMELY ATTACKING THE COURT THEY SUCKERED THE GOP INTO SAYING “WHATEVER THE COURT SAYS IS FINAL.”

    EITHER THIS IS THE CASE, OR OBAMA’S COMMENTS ABOUT THE IMPENDING DECISION (AND HIS A.P. SPEECH) INDICATE OBAMA IS AN IDIOTIC, MISINFORMED, ARROGANT AND TYRANNICAL EGOMANIAC AND AN ANGRY POS.

    IT WOULD EXPLAIN WHY ROBERTS CHANGED HIS MIND. AND WHY HIS OPINION IS SO DISJOINTED.

  17. No football spiking parties over here huh? I love that America is finally moving forward. Next move is hopefully single payer. My moral compass feels something is wrong with turning a buck off sick and dying people

  18. @ first trimester obama you should put that in the form of a prayer. Dear God, I know you made all of us and jesus said the greatest commandment is to love your neighbor, but I will not pay for the homosexuals and Islamist to get their little Africam teeth cleaned. Thank you GOD, amen



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