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Sat Dec 15, 2012, 05:18 PM

Does the new HC reform increase taxes?

All my RW friends say so, and that's why companies aren't hiring. I looked into this, and I'm not exactly sure. It looks like there will be a tax on singles making over 200k and couples making over $250k. Is this right? Aside from the uninsured paying a tax, is the normal middle class person getting their taxes increased? And what about companies?

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Reply Does the new HC reform increase taxes? (Original post)
onlyadream Dec 2012 OP
Recursion Dec 2012 #1
democrattotheend Dec 2012 #3
Recursion Dec 2012 #4
democrattotheend Dec 2012 #6
Recursion Dec 2012 #9
democrattotheend Dec 2012 #10
edhopper Dec 2012 #2
SoCalDem Dec 2012 #5
PoliticAverse Dec 2012 #7
DesMoinesDem Dec 2012 #8
onlyadream Dec 2012 #11

Response to onlyadream (Original post)

Sat Dec 15, 2012, 05:21 PM

1. Some

The Medicare cap is lifted, some unearned income is levied, and there are various excises taxes (most famously on tanning booths).

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Response to Recursion (Reply #1)

Sat Dec 15, 2012, 05:25 PM

3. I just found out that the law applies the Medicare tax to unearned income

I was very excited about that. I feel strongly that it's unfair to have higher taxes for earned income than for unearned income and am very glad that they are going to start taxing unearned income for Medicare. They should look at doing the same for Social Security...that might be a better/good additional solution to raising the cap.

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Response to democrattotheend (Reply #3)

Sat Dec 15, 2012, 05:31 PM

4. Yes, I think levying on unearned income is a great idea for SS too

Social Security isn't particularly having a problem, so I don't talk about "fixing" it much, but that would be a great way to improve it.

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Response to Recursion (Reply #4)

Sat Dec 15, 2012, 05:38 PM

6. It does have a problem

And it really irks me when people say it doesn't. So what if it is solvent until 2036 - what about after that? I won't be old enough to retire until around 2050, and when people say there's no problem just because it's solvent until 2036, that feels to me like they are saying "oh, nothing needs to be done, there's enough there that I'll get mine."

I know that's probably not how you intended it, but that's how it comes across. And people on the left and right say that the longer we wait, the harder future beneficiaries will be hit by whatever changes they make.

Here is a good article I read earlier today. Investors.com is usually a right wing POS, but this article didn't feel like that. The author said Krugman is right about a lot of things but also makes the case for why something does need to be done now:

http://news.investors.com/blogs-capital-hill/121412-637115-krugman-right-and-wrong-on-social-security.htm?src=SThru&p=3

One of the points he makes is that because of the funding shortfalls in Medicare, there will be no room in the budget to accommodate Social Security if it needs more than what the trust fund has to pay out.

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Response to democrattotheend (Reply #6)

Sat Dec 15, 2012, 06:00 PM

9. In 2036 we will need to increase revenue or cut benefits or some combination

There's no sense worrying about that now. And there's particularly no sense in increasing revenues or cutting benefits now so that we won't have to do that later.

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Response to Recursion (Reply #9)

Sat Dec 15, 2012, 06:29 PM

10. Yes there is. Spread the sacrifice out over more people

By starting the cuts earlier, the cuts will be less drastic down the line. If we just wait until there's not enough to fund full benefits they will have to make big and sudden cuts.

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Response to onlyadream (Original post)

Sat Dec 15, 2012, 05:23 PM

2. If your RW friends say so

it is a lie.
ACA has nothing to do with the current tax talks about the Bush Tax Cuts. Which you can tell you RW friends is the largest part of the debt and did nothing for the economy. (A study by the CBO said so)

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Response to onlyadream (Original post)

Sat Dec 15, 2012, 05:36 PM

5. Companies are "not hiring" because they cannot justify hiring more people

if they don't NEED more people, and some of the mega-bosses prefer to hoard cash, to create chaos that might stifle legislation that may eliminate their tricky deductions that enrich them.

Most people do not make over 200K, so most are probably not "worried".

If taxes go up, then taxes go up.

It's silly to engage in conversation with people who have such childish intellect that they allow FOX news talking points to "inform" them about such things.



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Response to onlyadream (Original post)

Sat Dec 15, 2012, 05:48 PM

7. The taxes on companies to pay for health insurance don't kick in until 2014,

when some companies may then cut some employee hours to under 30 hours per week (30 hours/week is the threshold
the ACA uses to define a 'full time' employee) or only hire people for part-time to avoid the tax.

As far as individuals, high income individuals will be subject to additional Medicare tax and there is also a 3.8% tax
added to unearned income (i.e. capital gains).

For a discussion of the new taxes (and credits)see:
http://www.bbdcpa.com/articles/tax-provisions-in-new-patient-protection-and-affordable-care-act/
http://www.healthcare.gov/news/factsheets/2011/08/small-business.html
http://www.irs.gov/uac/Affordable-Care-Act-Tax-Provisions



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Response to onlyadream (Original post)

Sat Dec 15, 2012, 05:49 PM

8. This article has a rundown of most of the taxes.

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Response to DesMoinesDem (Reply #8)

Sun Dec 16, 2012, 08:53 AM

11. Thanks, Great articles

Im going to send my friend the links. I told her the facts as I knew them and it seems I was pretty much correct. I also told her that employers hire people when there is demand. Just looking at history, after wwII our tax rate was huge, and yet people were still finding employment. This flies in the face of th RW talking points.
This is why I love history. It provides empirical data to throw at these emotional, fox watching people. However, when I provide facts and graphs, they usually resort to a "well, that's the way I feel!" statement and end the conversation.

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