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Deal or no deal, ObamaCare taxes poised to hit next month
Fox News ^ | December 8, 2012

Posted on 12/09/2012 12:42:09 PM PST by 2ndDivisionVet

Even if lawmakers somehow stop the Bush-era tax rates from expiring, taxes are still expected to rise on Jan. 1 -- thanks to a trio of new fees tied to the federal health care overhaul.

The IRS this past week published rules for some of the first major taxes meant to help pay for President Obama’s massive insurance coverage expansion. Together, they will raise investment and income taxes on top earners and impose a separate -- and controversial -- tax on medical devices.

The bundle of fees has been largely overlooked as lawmakers and the White House bicker over the Bush tax rates, with Republicans demanding they be extended for everyone and Obama insisting rates rise for top earners. But that same group of earners is already in the crosshairs under the ObamaCare tax rules published this week.

Starting Jan. 1, investment income for individuals earning over $200,000 and households earning over $250,000 will be subject to a new 3.8 percent tax. Further, regular income above those thresholds will be hit with a .9 percent Medicare surtax. Should the Bush tax rates expire for those workers, those increases will be compounded...

(Excerpt) Read more at foxnews.com ...


TOPICS: Business/Economy; Culture/Society; Front Page News; Government
KEYWORDS: 20130101; economy; fiscalcliff; layoffs; obama; obamacare; prezflustercluck; recession; taxes; taxhikes
I predict both will happen.
1 posted on 12/09/2012 12:42:18 PM PST by 2ndDivisionVet
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To: 2ndDivisionVet

“What’s in YOUR wallet?” - The U.S. Government


2 posted on 12/09/2012 12:48:01 PM PST by FlingWingFlyer (I feel sad for my once great country. We deserve everything that is about to happen to us.)
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To: FlingWingFlyer

Moths.


3 posted on 12/09/2012 12:50:10 PM PST by 2ndDivisionVet (I'll raise $2million for Sarah Palin's presidential run. What'll you do?)
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To: 2ndDivisionVet

I’m wondering if these people who make “Catheters when you have to ‘cath’ (whatever that is, but I recently heard them say 200 per month at NO cost)” and the “Hover-rounds at no cost to you!” are going to get their keester’s reamed.

Medicare is to blame for all this.


4 posted on 12/09/2012 12:51:49 PM PST by Gaffer
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To: Gaffer

The oldsters are going to be the first ones to be cut off. They can hardly walk, so... no riots.


5 posted on 12/09/2012 12:55:46 PM PST by GeronL (http://asspos.blogspot.com)
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To: 2ndDivisionVet
Obama and the Demoncrat party WANT to go over the cliff. It's a WIN WIN WIN for them. Here's what Obama and the Demoncrats achieve by going over the cliff:

(1) Taxes are raised on MIDDLE and UPPER income people, which is what Obama really wants.

(2) The military budget is cut, which is what Obama really wants.

(3) The liberal Demoncrat news media will sell to the same gullible folks that the GOP is to blame for going over the cliff. The sheeple, who aren't interested in facts and truth, will believe what they're told. As a result, the Demoncrats will have another GOP bogeyman to run against in 2014, which is what the Demoncrats really wants.

Obama knows that there's no shortage of stupid in America. They know that they can pin just about anything on the GOP with the help of their propaganda/media arm.

Even if the GOP caves on taxes for the upper income, Obama will manufacture a reason to decline the offer and blame the GOP for the impasse.

Obama and the Demoncrat party WANT to go over the cliff. It's a WIN WIN WIN for them!

6 posted on 12/09/2012 1:15:35 PM PST by JesusIsLord
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To: 2ndDivisionVet
Have been notified that Medicare B premiums are going up 5% in January. Harbinger of things to come for everyone.
7 posted on 12/09/2012 1:21:03 PM PST by hinckley buzzard
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To: hinckley buzzard

Yup. My husband and I are both seniors, so our 1.7% raise “for inflation” in our SSAN, totals $29 for us both. We are both being charged higher for Medicare, so minus the extra $12 per month total for us both with the increased charge for medicare, between the two of us we will gross an extra $15 per month. And suffer lesser and inferior medical care under Obamacare to boot! Fortunately, we have good medical care through my husband’s retirement plan for as long as the Fuhrer permits it!


8 posted on 12/09/2012 1:35:58 PM PST by kiltie65
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To: 2ndDivisionVet

Freaking genius to hide the tax increase for ObamaCare in the end of the Bush tax cut, with Republicans getting the blame for both.


9 posted on 12/09/2012 1:47:28 PM PST by Carry_Okie (The Slave Party: advancing indenture since 1787.)
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To: JesusIsLord; LucyT; little jeremiah; azishot

One addition to your excellent assessment.

The communist 0b0z0ids in the Senate will produce a bill to “ cut” taxes for the “98%”’ restore the SS contribution holiday and “ restore” indefinite unemployment insurance to destroy SS and spend more on the moochers and the takers.

The spineless republicans will be dared to refuse and that’s another WIN to add to your three for the communists who’ll destroy the country, legitimately.

Unfortunate, but true. Cowards will lose to harsh communists, every time.


10 posted on 12/09/2012 1:52:06 PM PST by melancholy (Professor Alinsky, Enslavement Specialist, Ph.D. in L0w and H0lder)
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To: 2ndDivisionVet

ObamaCare taxes = Jiffy Lube


11 posted on 12/09/2012 1:58:42 PM PST by Vaduz
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To: 2ndDivisionVet

Tax cuts for all or tax cuts for none.

Republicans should walk out and go home.

American people want higher taxes - they should get them.


12 posted on 12/09/2012 2:04:27 PM PST by Tzimisce (What do you do when every every branch of the government is corrupt and aligned against you?)
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To: 2ndDivisionVet
and controversial -- tax on medical devices

Controversial? I don't remember the tax on medical devices ever even being mentioned. Odd that it's suddenly "controversial."

It should be, of course. In my opinion, it is the single most important indication that Obamacare isn't about improving Americans' health care -- it's about increasing government's power.

I mean, how much sense does it make to tax medical devices, thus driving their prices higher, when your stated goal is to drive the costs of health care down? And how much sense does it make to tax excellent insurance policies (making their cost higher) when your stated goal is to drive the costs of health care down?

None of this was ever brought up in national media coverage.

Alright, sermon's over. The choir may leave now.

13 posted on 12/09/2012 2:33:16 PM PST by BfloGuy (Workers and consumers are, of course, identical.)
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To: Gaffer

I own one of these “Hover Arounds.” Not that model, but a similar one. They all cost the same (about $4K). You pay 20% through Medicare. The 1st 3 payments are the biggies and you pay far smaller payments for the next 10 months. At that time, it is yours. Maintenance is included. Prescription required. This will add $400 to the cost of the unit if the 10% figure is to be believed. It WILL be passed on the the consumer. This specious argument about it being good for the manufacturer because they will sell more of them is bullshit. They will sell them anyway.


14 posted on 12/09/2012 3:10:00 PM PST by CTOCS (I live in my own little world. But, it's okay. They know me there....)
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To: JesusIsLord
(2) The military budget is cut, which is what Obama really wants.

That's all true but the defense contractors will whine to their senators the loudest (Senate campaigns cost much more than House campaigns). Once they do that, the D senators will cut a deal with the R house and ignore Obama.

15 posted on 12/09/2012 6:36:24 PM PST by palmer (Jim, please bill me 50 cents for this completely useless post)
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To: CTOCS

My mother in law got one of them and paid nothing. Just like the 2 false legs and assorted other items that cost around 50 grand. And she never really used any of them.

The hoveround went to a disabled adult when she died and actually got some use. Donated the legs and other stuff to charities that reuse them.


16 posted on 12/09/2012 6:48:53 PM PST by packrat35 (Admit it! We are almost ready to be called a police state!)
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To: packrat35

My condolences to your mother.

If you have a supplemental Medicare Plan or private insurance, you can get it for nothing. All I have is Medicare and VA. I have “end-stage emphysema and cannot possible do without it.


17 posted on 12/09/2012 7:27:05 PM PST by CTOCS (I live in my own little world. But, it's okay. They know me there....)
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To: CTOCS

I was not denigrating you. Only highlighting the waste in all these programs. I wish you the best.


18 posted on 12/09/2012 10:09:40 PM PST by packrat35 (Admit it! We are almost ready to be called a police state!)
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To: CTOCS

Not making any aspersions as to your condition one way or the other, but most of the people I see in these things are what I’d call fantastically calorically blessed. Somuchso they don’t even make a seat big enough for them.


19 posted on 12/10/2012 10:25:00 AM PST by Gaffer
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To: FlingWingFlyer

“What’s in YOUR wallet?” - The U.S. Government”””

$2.17 and I still have 16 days to go before the next S0oc Sec payment hits my account.


20 posted on 12/10/2012 10:29:42 AM PST by ridesthemiles
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To: 2ndDivisionVet
" a separate -- and controversial -- tax on medical devices. "

The reason the Republicans aren't calling this the "Democrats' wheelchair tax" is that they are deeply stupid

21 posted on 12/11/2012 12:30:20 PM PST by cookcounty ("For the first time in my adult life I am not proud of my country.")
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