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Keyword: incometax

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  • The Donald Trump Income Tax Calculator

    09/30/2015 7:17:25 PM PDT · by SeekAndFind · 47 replies
    SavvyThis: Money ^ | 09/30/2015
    Did my best with the limited information available to calculate how much Federal Taxes you would owe under Trumps plan. Donald J. Trump’s Tax Plan This information may be inaccurate and is not meant in anyway as legal or tax advice. Nor is this calculator an endorsement of any canidate by This calculator was purely meant for educational purposes and may contain inaccuracies.
  • Donald Trump's Income Tax Calculator

    09/29/2015 7:33:13 AM PDT · by the_boy_who_got_lost · 67 replies ^ | September 29th 2015 | Timothy Martens
    I wrote a calculator to calculate what you would pay in income tax under Donald Trumps plan.
  • This is how much income tax people pay in every major city around the world

    09/22/2015 11:35:28 AM PDT · by SeekAndFind · 4 replies
    Business Insider ^ | 09/22/2015 | Mike Bird
    Investment bank UBS recently published its "Prices and Earnings" research note for 2015, tracking everything from taxes, incomes and working hours to the how long it takes the average person to earn enough for an iPhone or a Big Mac. One of the graphics that comes with the report is on income taxes and social security contributions, showing just how heavy those personal and work-related taxes are around the world. The figures are for a select group of professions that UBS profiled, a full list of which can be seen below the graphic. There's a huge range, from Copenhagen where...
  • Donald Trump: Tax the Rich More

    08/28/2015 12:18:58 PM PDT · by z taxman · 170 replies
    CNN ^ | Aug. 28, 2015 | Heather Long
    Donald Trump is finally showing us more of his economic plan beyond the "Make America Great Again" slogan on his red hat. America has now learned: -- He wants to tax the rich more and the middle class less. -- He wants to lower corporate taxes. -- He wants to cut government spending and stop raising the debt ceiling. "The hedge fund people make a lot of money and they pay very little tax," Trump said in an interview Wednesday with Bloomberg. "I want to lower taxes for the middle class." In short, Trump is willing to raise taxes on...
  • Soldier of Fortune? The Pro’s and Con’s to Contracting Overseas

    07/17/2015 11:20:06 AM PDT · by w1n1 · 3 replies
    AShooting Journal ^ | 7/17/2015 | Robert Spunga
    Today, there are hundreds of thousands of men and women working overseas on various contracts and making good money, probably two to three times what they can make in the United States. On top of that, they may even be eligible for the foreign earned income exclusion, which in 2014 meant that the first $99,200 of their total income earned overseas was excluded from being taxed at the Federal level (it’s higher for 2015). However – and I can’t emphasize this enough – they are earning it! Naturally, the best-paying jobs are in high-threat environments such as Iraq, Afghanistan, Syria,...
  • Greenmail: Income Tax, Flat Tax, or, No Tax?

    06/22/2015 12:05:54 PM PDT · by Sean_Anthony · 6 replies
    Canada Free Press ^ | 06/22/15 | Gary Hunt
    Washington, D.C. gets back nearly six times, per capita, what it contributes For those who believe that the federal government should tax us, either by income tax or a fair tax, or any other direct means of taxation, must understand that doing so only creates socialism among the states (taking from one to give to another), as the following table shows (A more complete table can also be found at Tax Foundation Special Report No. 158, “Federal Tax Burdens and Spending by State). The table is from 2005 (I haven’t found a newer one, yet), so I would suppose that...
  • LePage says he wants Maine income tax gone by 2020

    06/01/2015 7:09:52 AM PDT · by Cowman · 5 replies
    Bangor Daily News ^ | March 12 | By Scott Thistle
    AUBURN, Maine — Gov. Paul LePage pitched his plan to reform Maine’s tax system and realign the state’s spending priorities in a “town hall” forum at Edward Little High School on Wednesday. LePage announced he intends to put a statewide ballot measure before voters in 2016 that would ask them to amend the Maine Constitution to eliminate the state’s income tax for good. He told Eileen Heidrich of Turner that that way he would be sure his goal to end the state’s income tax completely could not be undone by politicians in Augusta. “We are working on the language; we’ve...
  • Income Transfer, Not Income Tax

    04/16/2015 3:58:48 AM PDT · by Kaslin · 4 replies ^ | April 16, 2015 | Jackie Gingrich Cushman
    Campaigning for reelection, President Barack Obama often talked about the importance of everyone paying their "fair share" of taxes. The assumption was that there was general agreement about what fair share means. The underlying message is that those who earn more should pay more than they already are; that what the top 10 percent are paying is just not enough. This week, a Wall Street Journal article titled "Top 20 Percent of Earners Pay 84 Percent of Income Tax" by Laura Saunders provides a different perspective than we are used to hearing regarding who pays what income taxes. Nearly "half...
  • Tax Day 2015: Why Is April 15 The Deadline To Pay Taxes?

    04/14/2015 8:30:28 PM PDT · by Tolerance Sucks Rocks · 32 replies
    Tech Times ^ | April 14, 2015 | Laura Rosenfeld
    Though they may seem like it, the dates that holidays fall on aren't usually random. They typically commemorate a significant event that happened on or around that day. Obviously, this makes sense. However, it's hard to guess why April 15 was chosen as Tax Day, the deadline for filing and paying your taxes. The 16th Amendment, which instituted a national income tax, was passed by Congress on July 2, 1909 and ratified on Feb. 3, 1913, but neither of these days made the cut to be the Tax Day. What gives? If the April 15 deadline to file and pay...
  • (Democrat Governor) Wolf wants Pennsylvania income, sales tax increase

    03/03/2015 1:07:25 AM PST · by prisoner6 · 26 replies
    Pittsburgh Post-Gazette ^ | March 3, 2015 | Karen Langley
    Gov. Tom Wolf is expected to call today for the Republican-controlled General Assembly to send him a budget that boosts state education funding and provides relief for school district property taxes while raising the rates of the sales and personal income taxes. His plan for doing so includes a proposal to raise the personal income tax rate in July 2015 from 3.07 percent to 3.7 percent, while increasing the eligibility for a poverty exemption, according to a briefing document prepared by the administration. He will propose increasing the state sales tax in July 2016 from 6 to 6.6 percent while...
  • Tax question - Smart Freepers help wanted

    02/25/2015 7:08:55 PM PST · by SolidRedState · 20 replies
    ME | 2/25/15 | SolidRedState
    Received a mostly property inheritance. Had to sell off some to pay the inheritance tax. Inheritance is not taxable as income. Inheritance tax is not deductible as an expense. There were no capital gains on the sale. Does the sale count as income? Tax appointment in 3 weeks and it is just bothering me. I cannot stand the suspense. I think it would not count since it was part of the inheritance and the inheritance tax was paid.
  • The income tax started as a conservative political stunt

    02/03/2015 7:24:16 PM PST · by Tolerance Sucks Rocks · 21 replies
    Business Insider ^ | February 3, 2015 | Christina Sterbenz
    The US officially adopted the federal income tax 102 years ago today. The Supreme Court had ruled in 1895 that the income tax violated Article I of the Constitution, so the amendment was necessary to empower the federal government to impose the income tax. But the story of the income tax goes back much further than 1913, culminating in some sneaky political maneuvering. Conservatives — who aren't the biggest fans of the income tax — actually introduced the 16th amendment. They figured it would never pass hoped its introduction would stop liberals from pushing for an income tax as part...
  • Compulsory income tax on Christians drives Germans away from Protestant and Catholic churches

    02/02/2015 4:40:20 PM PST · by SeekAndFind · 46 replies
    The Telegraph ^ | 02/02/2015 | By Justin Huggler
    Hundreds of thousands of German Christians are formally renouncing their faith and leaving the church in order to escape a controversial change in the tax laws. Up to 200,000 Germans are believed to have filed official declarations last year renouncing their membership of the Protestant church, the highest number in almost two decades. A similar number are thought to have left the Catholic Church. Church members in Germany are required by law to pay tax to fund church activities, which is collected by the government. Under German law, anyone who was baptised as a child is automatically a member of...
  • Ending Charitable Deductions to Feed the Leviathan State

    01/16/2015 5:27:05 PM PST · by BlatherNaut · 29 replies
    Crisis Magazine ^ | 1/15/15 | John M. Grondelski
    Indiana University professor Fran Quigley urges, in the progressive Catholic magazine Commonweal, an end to deductibility of charitable contributions against federal income taxes. His argument rests primarily upon the twin beliefs that the U.S. social safety net is too thin and that lost revenues from charitable contribution deductibility would be better spent on governmental social welfare programs. His arguments, while couched in Catholic social justice language, pay virtually no attention to a key principle of Catholic social teaching: the principle of subsidiarity. Furthermore, he has a proclivity to regard as matters of “justice” programs that can also arguably be deemed...
  • Affordable Care Act’s Tax Effects Now Loom for Filers

    12/26/2014 8:39:15 AM PST · by Theoria · 35 replies
    The New York Times ^ | 25 Dec 2014 | Tara Siegel Bernard
    If you decided to skip health insurance this year, consider this: Unless you can prove you have a valid excuse, you will be liable for a penalty during the coming tax season — and the time to start making your case is now. That’s not all. People who bought subsidized insurance through one of the marketplaces may have new tax forms to complete, while paying the penalty itself may demand some serious number-crunching. The Internal Revenue Service is gearing up to answer questions, but it warns that only half of the callers may get through — and those who succeed...
  • Economics Profs Claim a Ninety Percent Income Tax Rate Would Help the Rich

    11/22/2014 5:45:04 PM PST · by SeekAndFind · 61 replies
    College Insurrection ^ | 11/22/2014 | Aleister
    It sounds like these professors graduated from the redistributive school of economics.Christopher White of the College Fix reports. Ninety percent income tax rate would help the rich, economics professors claim Opposing economist asks why disincentives in carbon tax wouldn’t apply to income taxEconomists at the University of Pennsylvania and University of Bonn argue that the United States would be better off if well-heeled citizens paid the kind of high tax rates not seen since the Eisenhower administration.According to a working paper by Bonn’s Fabian Kindermann and Penn’s Dirk Krueger published by the National Bureau of Economic Research, going back...
  • Tennesseans to vote on banning income taxes

    10/15/2014 12:32:04 PM PDT · by Bettyprob · 10 replies
    The Washington Examiner ^ | 10/15/2014 | Sean Higgins
    Most voters in Tennessee pay no income or payroll taxes. Next month, they will decide whether they want that to remain that way. A state ballot referendum, Amendment 3, would write prohibitions of both income and payroll taxes into the state constitution, pushed by anti-tax advocates who are worried about previous government efforts to add an income tax. For the foreseeable future, there is little chance of either tax being added in the Volunteer State. The Republicans control both the statehouse and the governor's mansion, and no one expects them to endorse either levy. Nevertheless, anti-tax advocates are concerned that...
  • Dallas Fed Reserve Pres: Fed Gov’t Should ‘Get Their Act Together and Be More Like Texas’

    09/29/2014 3:05:27 AM PDT · by Olog-hai · 4 replies
    Fox News Insider ^ | Sep, 28, 2014 1:31 pm
    Despite struggling with the ongoing border crisis, Texas is the number three state in terms of job growth, creating more than 20,000 jobs in August alone, with an unemployment rate of just 5.3%. So, what is Texas doing right? […] (President and CEO of the Federal Reserve Bank of Dallas, Richard) Fisher explained that Texas is way ahead of much of the nation economically largely due to its highly diversified economy, pro-business government and lack of income tax. …
  • FairTax® and unFair Movie Update

    09/10/2014 6:56:04 PM PDT · by Taxman · 59 replies
    Tennessee Valley Republican Club ^ | 11 June 2014 | Written by Ralph Weber
    A team of acclaimed filmmakers is spearheading “Unfair”, a ninety minute documentary motion picture intended for all audiences. It will be the first major theatrical documentary to shed light on the certain damage the Income Tax and the IRS have wrought on our liberties, our businesses, our families, and our religious, charitable and civic organizations, while empowering a political agenda contrary to America’s heritage. This film will be promoted to mainstream audiences based on its factual and dramatic content. In addition, the Picture will be marketed heavily to interested grassroots audiences that identify themselves strongly with any and all of...
  • Shock: Several 'blue' states are cutting taxes on the rich to spur growth.

    08/15/2014 4:19:19 AM PDT · by IBD editorial writer · 2 replies
    Investor's Business Daily ^ | 08/14/2014 | IBD Staff
    Tax Reform: A new report finds several states that helped elect President Obama are doing something he won't — implementing pro-growth tax policies to get their economies moving. Is the White House paying attention? You wouldn't expect a solidly blue state like Maryland — which hasn't voted for a Republican presidential candidate since Reagan — to be cutting taxes for the rich. But in their last legislative session, Maryland lawmakers passed a plan to raise the estate tax exemption almost fivefold over the next five years, according to the latest annual "Rich States, Poor States" report from the American Legislative...
  • The Original Tea Partiers: How GOP Insurgents Invented Progressivism

    07/22/2014 12:27:55 PM PDT · by Borges · 15 replies
    The Atlantic ^ | 7/22/2014 | MICHAEL WOLRAICH
    Wisconsin Senator Robert La Follette and his supporters pioneered long-shot primary challenges, strong ideology, and populist rhetoric a century ago.
  • RAHN: The end of the progressive income tax

    07/10/2014 5:40:08 AM PDT · by 1rudeboy · 83 replies
    Washington Times ^ | July 7, 2014 | Richard Rahn
    July 1 might go down in history as the beginning of the end of the comprehensive, progressive income tax. A progressive income tax, in which the government attempts to tax all labor income and capital income, such as interest, dividends and capital gains more than once, cannot help becoming so complex that it eventually dies of its own weight. This is particularly true when the government attempts to tax the worldwide income of its “tax persons” rather than the income located in its own territory. The complexity is caused by the never-ending attempt to define what income is and what...
  • Clinton can’t stop gaffes on crony capitalism

    06/23/2014 8:42:44 AM PDT · by PoloSec · 17 replies
    Washington Examiner ^ | June 23 2014 | Chris Stirewalt
    CLINTON CAN’T STOP GAFFES ON CRONY CAPITALISM Can Hillary Clinton, who says she and her husband went on from being “dead broke” in 2001 to rake in an estimated $155 million, run for president as the nominee of a party that is obsessed with income inequality? No problem, she told The Guardian, because the Clintons pay their taxes. The Democratic 2016 frontrunner dismissed the idea that voters would see a corporate-connected candidate with a nine-digit income in the past decade as part of the problem: “‘But they don't see me as part of the problem,’ she protests, ‘because we pay...
  • 5 Scandalous Obamacare Horror Stories

    10/19/2013 3:51:29 AM PDT · by Kaslin · 23 replies ^ | October 19, 2013 | John Hawkins
    Obamacare is hurting people. A lot of people -- and not just the ones who are wasting all day trying and failing to sign up for the dysfunctional 600 million dollar website. Millions of Americans are losing their insurance, losing their doctors, and taking huge hits to their wallets because of Obamacare. Here are some of their stories... 1) Man with leukemia loses his health insurance: Michael Cerpok is a high school drop-out, one of six kids born to a school teacher, and doesn't come from a wealthy family. He has run two businesses for more than 25 years and...
  • Flex spending accounts face hit in health overhaul(aka possible new Tax)

    11/01/2009 8:18:32 AM PST · by janetjanet998 · 32 replies · 1,339+ views
    WASHINGTON – Those tax-free spending accounts that you and your co-workers use to help pay for dental work, insurance copayments or over-the-counter drugs face a hit under the health overhaul bills in Congress — unless a coalition that includes a powerful union, insurers and others can stop it. Bills in the House and Senate would cap at $2,500 an employee's allowable annual contribution to a health care flexible spending account. There is no federal cap on contributions now, though companies that offer the accounts — more than 80 percent of companies employing 500 or more workers do — typically impose...
  • IRS: Cheapest Obamacare Plan Will Be $20,000 Per Family

    01/31/2013 2:43:47 PM PST · by rhema · 250 replies
    CNS News ^ | January 31, 2013 | Matt Cover
    In a final regulation issued Wednesday, the Internal Revenue Service (IRS) assumed that under Obamacare the cheapest health insurance plan available in 2016 for a family will cost $20,000 for the year. Under Obamacare, Americans will be required to buy health insurance or pay a penalty to the IRS. The IRS's assumption that the cheapest plan for family of five will cost $20,000 per year is found in examples the IRS gives to help people understand how to calculate the penalty they will need to pay the government if they do not buy a mandated health plan. “The annual national...
  • Health Reform Breaks Bad: The deceptions and disasters of Obamacare

    10/13/2013 11:58:48 PM PDT · by 2ndDivisionVet · 15 replies
    The Weekly Standard ^ | October 21 - October 28, 2013, Vol. 19, No. 07 | Christopher J. Conover
    Breaking Bad is the story of a seemingly well-intended but very misguided man who turned to cooking meth in order to amass enough wealth to provide for his family once he dies of cancer. The consequences of that unfortunate decision—not to mention the lies and deceptions to keep it on track—pyramid alarmingly over the course of five seasons, culminating in mayhem and a head-spinning body count. Obamacare isn’t a TV drama. But it will unleash its own tsunami of unintended consequences: more than a million jobs lost, an economy increasingly made up of part-time workers, higher health spending (at least...
  • How Obamacare Will Shrink the Labor Supply (freeloaders jazzed)

    10/14/2013 2:38:30 PM PDT · by Libloather · 4 replies
    National Review ^ | 10/14/13 | Veronique de Rugy
    Under the Affordable Care Act, someone making less than 138 percent of the poverty line qualifies for Medicaid, and someone between 138 and 400 percent of the poverty line is qualified to receive a federal tax subsidy for health insurance bought on a government exchange. But here is the problem: premiums will rise for millions of Americans because of requirements that policies provide certain benefits that they didn’t offer before. This means plenty of people will now have a pricier plan, and no way to defray the cost. My colleague Chuck Blahous sends me this piece from SFGate that gives...
  • ObaMedia: Health Insurance You Earn Is A "Tax Break"

    06/11/2009 10:36:20 AM PDT · by an amused spectator · 28 replies · 1,460+ views
    June 11, 2009 | various Obama Media sources
    Obama's Big Media mouthpieces are promoting the Dear Leader's latest talking point on Health Care: "Tax-free" health benefits from employers are actually a "tax break", and as such can be rescinded by The Leader and His Righteous Coven in the Congress.USA Today's Obama media sock puppet Richard Wolf "reports" in today's online rag:Lawmakers target health insurance tax break Congressscum appear to be ready to do a wilding on the health care you earned.
  • Guess Who Really Pays the Taxes By Stephen Moore

    01/01/2008 11:17:41 AM PST · by K-oneTexas · 37 replies · 1,005+ views
    The American ^ | November/December 2007 | Stephen Moore
    Guess Who Really Pays the Taxes By Stephen Moore From the November/December 2007 Issue Yes, income in America is skewed toward the rich. But taxes are skewed far, far more. The top 5 percent pay well over half the income taxes. STEPHEN MOORE has the numbers. 1. Are income taxes fair?That depends on who is offering the opinion. Democratic candidates for president certainly don’t think so. John Edwards has said, “It’s time to restore fairness to a tax code that has been driven badly out of whack.” Hillary Clinton laments that “middle-class and working families are paying a much higher percentage...
  • (Democratic) Older hill aides shocked by Obamacare prices [Waah alert!]

    11/21/2013 6:01:22 PM PST · by markomalley · 52 replies
    Politico ^ | 11/21/2013 | Jonathan Allen and Jennifer Haberkorn
    Veteran House Democratic aides are sick over the insurance prices they’ll pay under Obamacare, and they’re scrambling to find a cure.“In a shock to the system, the older staff in my office (folks over 59) have now found out their personal health insurance costs (even with the government contribution) have gone up 3-4 times what they were paying before,” Minh Ta, chief of staff to Rep. Gwen Moore (D-Wis.), wrote to fellow Democratic chiefs of staff in an email message obtained by POLITICO. “Simply unacceptable.”In the email, Ta noted that older congressional staffs may leave their jobs because of the...
  • Republicans: Wealthy Already Paying Their Fair Share On Income Taxes (CT battle over tax increase)

    07/27/2009 5:32:36 AM PDT · by raybbr · 17 replies · 456+ views ^ | 7/27/2009 | By CHRISTOPHER KEATING
    Frustrated Democrats have been asking the same question for months: When are the rich going to pay their fair share? State employee unions are also asking — broadcasting television commercials depicting wealthy fat-cats smoking cigars and brandishing brandy snifters as Republican Gov. M. Jodi Rell has avoided tax increases on the rich and corporations. The unions have spent about $400,000 since February on radio, television and cable advertisements in their campaign for tax fairness. But Sen. L. Scott Frantz, R-Greenwich, says the rich are already paying their fair share. In fact, Greenwich paid more than 14 percent of the state's...
  • Another Obama Tax Hike [Obama favors 41% marginal tax rate for middle class]

    02/04/2010 4:51:56 AM PST · by grundle · 41 replies · 2,439+ views
    Wall St. Journal ^ | February 3, 2010 | Douglas Holtz-Eakin and Alex Brill
    The Senate health-care bill would raise effective marginal tax rates on lower and middle-income singles and families up to 41%. The effective marginal tax rate is the answer to the question: "If I earn $1 more, how much less than $1 do I get to save or spend?" If you can keep that full dollar for your disposal, the effective marginal tax rate is zero. If earning another dollar does not raise your disposable income by even a penny, the effective marginal tax rate is 100 percent. Consider, then, the figure below constructed for a two-earner family with two school-age...
  • Yes, We Can Afford Higher Taxes—Here's Why

    10/25/2012 6:34:29 AM PDT · by Sir Napsalot · 23 replies
    The Atlantic ^ | 10-24-2012 | James Kwak
    .... The huge tax cuts passed under Presidents Reagan and Bush II (surrounding smaller tax increases under Bush I and Clinton), in the short term, contributed to the largest budget deficits in peacetime U.S. history. In the long term, they undermined the federal government's ability to pay for the social insurance programs that make up the largest part of the federal budget: Social Security, Medicare, and Medicaid. But the most remarkable victory of the conservative revolution has been taking tax increases off the policy table, to the point where even letting tax cuts for the very rich expire as scheduled...
  • Tax Loopholes Need To Be Closed [ Ok! Close All Loopholes- GO FLAT TAX! ]

    07/15/2011 4:03:09 PM PDT · by NoLibZone · 23 replies ^ | July 15 2011 | /
    A term new to most Americans, "tax expenditures," is being bandied about in Washington as Congress and President Barack Obama discuss ways to bring the federal budget closer to balance. In many discussions it is used interchangeably with a more familiar word, "loopholes." President Obama has been gaining a certain amount of political traction by urging elimination of many loopholes. He and liberals in Congress prefer to focus attention on tax breaks for big corporations and "the rich." That last needs to be qualified by noting that under one of the president's proposals, families earning $250,000 or more a year...
  • Health Reform Threatened by Conservatives' Anti-Tax Fantasy (Washington Post editorial)

    07/29/2009 9:14:22 AM PDT · by SeekAndFind · 22 replies · 625+ views
    Washington comPost ^ | 7/29/2009 | Steven Pearlstein
    Nothing has been more damaging to rational discourse about economic policy than the notion, peddled relentlessly by Republican conservatives and accepted by too many centrist Democrats, that raising taxes is always and everywhere bad for the economy. Mind you, there's very little evidence supporting this view -- it's an article of faith and a convenient way for politicians to pander to their constituents. Reality is a whole lot more complicated. The economic impact of a given tax increase can be positive or negative, depending on who is taxed, how the tax is structured and how the tax revenue is used....
  • How To Undo The Failure Of Obamanomics — Big Tax Cuts

    02/28/2014 12:11:39 PM PST · by Jim Robinson · 18 replies
    IBD ^ | 2/27/2014 | IBD Editorial
    Fiscal Policy: President Obama is putting all his political chips on raising the minimum wage to 10.10 an hour, but so far that issue isn't gaining much political traction. The 500,000 job losses confirmed last week by the Congressional Budget Office certainly were a mortal wound to the legislative push — as well they should be when we have nearly 20 million Americans already unemployed or underemployed. But most Americans have a much bigger concern than raising the minimum wage. Only about 5% of workers make that little (the average is well above $20 an hour), and most receiving the...
  • The Hidden Impact of Obamacare and the Economy

    12/23/2013 7:26:35 AM PST · by LucianOfSamasota · 40 replies
    The Fiscal Times ^ | December 22, 2013 | Jacqueline Leo
    Obamacare has delivered another sucker punch to the middle class. This time it’s sticker shock. Now that a few people can get past the tech problems of and actually see the real cost of insurance plans available, they are finding that Affordable Care is big hit to the family budget. And when the family budget gets hit in the solar plexus, guess what happens to consumer spending and the economy. In California, policies for about 900,000 Californians are being canceled because of Obamacare’s mandates and about 2/3rd of these do not qualify for subsidies, according to The Chicago Tribune....
  • Section 9002 of the Healthcare bill raises your reported gross income liability (Vanity)

    03/30/2010 3:01:18 PM PDT · by Sneakyuser · 15 replies · 1,853+ views
    Example: You receive $5000.00 in medical insurance from your employer. At a 25% tax rate you will owe an additional $1250.00 in taxes.
  • The Hidden Obamacare Taxes That Will Crush The Middle Class(news 4 those who chose not to read bill)

    11/14/2013 11:06:18 AM PST · by bestintxas · 31 replies
    moneymorning ^ | 11/14/13
    Get ready to be blindsided by a barrage of new taxes. $1 trillion worth... They'll be coming courtesy of the Affordable Care Act, otherwise known as Obamacare. And they won't just be affecting those who make over $250,000. The bulk of these taxes will be passed on directly to the middle class. That's because while a majority of these "stealth taxes" were designed to be taxes on businesses, they're actually transferred directly to ordinary citizens. They include the investment income surtax, a Medicare payroll tax, even a "tanning tax" on those who utilize indoor tanning services. "Many of those [hidden]...
  • Thanks Obama! Care- Now with 25% Fewer Jobs!

    02/05/2014 5:23:35 AM PST · by Kaslin · 10 replies ^ | February 5, 2014 | John Ransom
    The Congressional Budget Office just confessed that the healthcare law passed by Democrats and only Democrats in 2010—you know the one that was supposed to save us so much money?-- is really a dud, a job killer, as we have said all along. And the consequences aren’t just that some guy you don’t know won’t have a job, the consequences are that guys you DO know won’t have jobs, and --in the best case—your tax bill will go up accordingly. The reform package, derisively known as Obamacare, is going to cost the country an additional 2 million jobs by 2017...
  • Obamacare's average monthly cost across U.S.: $328

    09/25/2013 7:03:21 AM PDT · by Idaho_Cowboy · 56 replies
    Yahoo News ^ | September 25, 2013 | Caroline Humer
    Americans will pay an average premium of $328 monthly for a mid-tier health insurance plan when the Obamacare health exchanges open for enrollment next week, and most will qualify for government subsidies to lower that price, the Obama administration said on Wednesday. The figure, based on data for approved insurance plans in 48 states, represents the broadest national estimate for how much Americans will pay for health coverage under President Barack Obama's healthcare reform law next year. The prices of the new plans are at the heart of a political debate over whether they will be affordable enough to attract...
  • Health care costsare going up 72% (IN)

    07/31/2013 8:16:45 AM PDT · by digger48 · 6 replies
    Kokomo Tribune ^ | July 31, 2013 | Stephen W. Robertson
    When Indiana recently announced that individual health insurance costs in Indiana will rise 72 percent on average because of new Affordable Care Act requirements, an immediate outcry followed from some ACA supporters, who accused the Department of Insurance of misrepresenting these numbers in a deliberate attempt to mislead Hoosiers. The DOI provided a lengthy testimony about these numbers before the Indiana Health Finance Commission on July 22, and the DOI stands by its numbers. The fact remains that the Indiana individual health insurance market will see significant increases next year because of ACA. The following is some background about how...
  • New Obamacare fees coming in 2014

    12/26/2013 9:02:28 PM PST · by Innovative · 30 replies
    NY Post ^ | Dec 25, 2013 | S.A. Miller and Geoff Earle
    Here comes the ObamaCare tax bill. The cost of President Obama’s massive health-care law will hit Americans in 2014 as new taxes pile up on their insurance premiums and on their income-tax bills. But one insurance company, Blue Cross Blue Shield of Alabama, laid bare the taxes on its bills with a separate line item for “Affordable Care Act Fees and Taxes.” Under ObamaCare, individual tax filers earning more than $200,000 and families earning more than $250,000 will pay an added 0.9 percent Medicare surtax on top of the existing 1.45 percent Medicare payroll tax. They’ll also pay an extra...
  • Hidden Obamacare taxes will appear on health insurance bills starting in 2014

    12/27/2013 3:46:16 AM PST · by afraidfortherepublic · 23 replies
    The Daily Mail ^ | 12-27-13 | Daily Mail Reporter
    New Obamacare taxes that were previously kept secret have been unveiled by outraged customers who feel betrayed. Residents in many states have yet to feel the change that will come when President Obama's signature health care program which will go into full effect in January. But Blue Cross Blue Shield subscribers in Alabama got a glimpse of the future when they received their latest bill which had a separate line spelling out how much extra they will have to pay as a result of national health insurance. A local paper,, obtained a picture from a reader who received a...
  • George W. Bush found the solution to America's healthcare crisis seven years ago. Nobody listened

    02/19/2014 6:52:22 PM PST · by SeekAndFind · 25 replies
    Politico Magazine ^ | 02/19/2014 | EDWARD LAZEAR
    The Congressional Budget Office’s warning that the Affordable Care Act will cause employment to fall by the equivalent of 2.5 million full-time workers is just the latest of Obamacare’s negative surprises. Unfortunately, House Minority Leader Nancy Pelosi’s statement that “we have to pass the bill so that you can find out what is in it” is proving to be depressingly accurate. The law’s defenders legitimately argue that it is not sufficient merely to criticize the Affordable Care Act; responsible action requires proposing an alternative. Fortunately, Republicans have a good one, and it’s been hiding in plain sight for the past...
  • Health-Care Bill Would Increase Taxes On Wages, Investments

    03/19/2010 9:42:11 AM PDT · by SmartInsight · 54 replies · 2,966+ views
    CNBC ^ | March 19, 2010 | AP
    High-income families would be hit with a tax increase on wages and a new levy on investments under President Barack Obama's health care overhaul bill. For the first time, the Medicare payroll tax would be applied to investment income, beginning in 2013. A new 3.8 percent tax would be imposed on interest, dividends, capital gains and other investment income for individuals making more than $200,000 a year and couples making more than $250,000. The bill also would increase the Medicare payroll tax by 0.9 percentage point to 2.35 percent on wages above $200,000 for individuals and $250,000 for married couples...
  • ObamaCare: Older Workers Could Pay 25% Of Income

    12/26/2013 6:38:57 PM PST · by Innovative · 45 replies
    Investor's Business Daily ^ | Dec 26, 2013 | JED GRAHAM
    A primary rationale of ObamaCare's insurance reforms limiting age-rating and precluding pricing based on health status has been to ensure that people will be able to afford health coverage when they need it most. An IBD analysis finds that middle-class households in their late 50s and early 60s could spend 25% or more of their income on health care — before their deductible is exhausted and ObamaCare's benefits kick in. Covered California's shop-and-compare tool shows that a 58-year-old couple in Los Angeles County with $65,000 in income buying a bronze plan would have to spend $19,400, including $9,400 in premiums...
  • Illinois Term limits and Millionaire Tax Initatives

    04/16/2014 7:53:18 AM PDT · by Siegfried X · 4 replies
    Chicago Tribune ^ | 03/22/2014 | Rick Pearson
    ...The House speaker's plan would ask lawmakers in the Democratic-controlled legislature to submit to voters on Nov. 4 a proposed amendment to the state Constitution that would create a 3 percent income tax surcharge on personal income exceeding $1 million a year. That would be added to the existing personal tax rate, which stands at 5 percent for all taxpayers but is scheduled to drop to 3.75 percent next year... ...Rauner's own populist-tinged ballot initiative, a petition drive to put a constitutional amendment before voters in November to limit legislators to a maximum of eight years in office. In pushing...
  • Rumsfeld: 'I know I don't know' if my tax return was done accurately

    04/15/2014 5:09:17 PM PDT · by SeekAndFind · 32 replies
    The Hill ^ | 04/15/2014 | Blake Neff
    Former Secretary of Defense Donald Rumsfeld filed his taxes on Tuesday with an added twist: a letter telling the IRS that he had no idea whether his return was, in fact, accurate. “Despite the fact that I am a college graduate and I try hard to make sure our tax returns are accurate...I know that I do not know whether or not my tax returns are accurate, which is a sad commentary on governance in our nation's capital," Rumsfeld's letter reads.The letter’s phrasing appears to allude to Rumsfeld’s famous “unknown unknowns” statement in 2002, when he said, in reference to...