Posted on 05/22/2010 7:16:58 AM PDT by TheNewPundit
Washington, DC Ways and Means Ranking Republican Dave Camp (R-MI) and Health Subcommittee Ranking Member Wally Herger (R-CA) today released a new flow chart that shows Americas small businesses and their employees how to calculate the so-called small business health care tax credit the Democrats included in their massive health overhaul earlier this year.
As the navigation tool shows, employers face a dizzying array of questions and formulas before determining if they are eligible for some, all or none of this credit. In addition, the credit is limited to federal income tax liability, meaning that if a small business is losing money due to the economy, it might not be able to use the credit even if it successfully navigates the rules.
(Excerpt) Read more at thenewpundit.com ...
yawn.
Kinda like Al Gore's "targeted tax cut"...
Your government claiming they're giving you a benefit, but then taking it away in the fine print. Nah, that never happened before.
This is one of those things for which Her Sliminess the Nancy Ptomaine said they had to pass the bill so we could find out what's in it for us. Enjoy.
By design.
.....Layoff workers so that they employ 25 or less
.....Reduce pay and hold back raises to make their average income less than $50k.
.....Reduce pay and layoff workers to get the employer paid health care premium to a minimum of 50%.
Or they could say the hell with it and not give health insurance.
This favors VERY small companies with low paid labor. It certainly will hurt medium to large small firms like 30 employee engineering or architect firms with highly educated and experienced individuals as employees.
I also see that if you are a company of one (self employed), you can't make more than $50k unless there is some explicit exception for that.
I'd better get ready to be either unemployed or without my good employer health plan.
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