For the last few days since "Mr. Hope and Change" signed the new health care legislation into law, I have seen several posts from people who are
talking as if this is all just a wonderful thing and we will all be the better for its passage.
I have also seen responses to criticism of the bill, responses to a couple of my own postings critical of the bill, many of these responses are saying
we are all over reacting...that Canada and Europe have had this kind of system for years and it's so wonderful. I was shocked to read one of our
members postings talking about how in Canada she "broke some bones" and she's never had to pay for it. Wow...as if Canada's high tax base, taxes
taken out of everyone's pay checks each week isn't "paying for it".
I am beginning to realize that indeed there is a failure to communicate between us "haters" of healthcare reform and the "lovers" of this massive
change. So I thought it would be constructive to list some of the new taxes that we will all be privileged to pay at this point. Dumb taxes on our
activities, our consumption, and our lives. This article wraps up my fears very well as in relation to our nations continued decline.
Remember these new taxes on each individual are all for the good of the collective. We no longer matter as persons but now are nothing more than a
gear in the machine of the Federal machine.
Taxes on Healthcare Savings Accounts:
” The bill in 2011 places new restrictions on what can be purchased using special savings accounts funded with pre-tax dollars including health
savings accounts. Improper withdrawals from the accounts also would be hit with a new 20 percent tax."
Taxes on Tanning Salons:
"Consumers who frequent tanning salons would pay a 10 percent excise tax"
Taxes on Wheel Chairs:
"..those who buy devices such as wheelchairs would pay a 2.9 percent excise tax."
Taxes on Prescription Drugs:
" Drug makers may pass on a $3 billion annual fee."
Taxes (Fines) for those uninsured:
" individuals who don’t purchase insurance would be subject to a fine of $325 in 2015 and $695 in 2016. Individuals may be subject to a charge equal
to as much as 2.5 percent of their income in 2016, if the total is greater than the flat payment."
Source: Business Week
Taxes on Insurance Plans:
" The final House-Senate compromise would change that--eventually. Health coverage in excess of $10,200 for individual plans and $27,500 for family
plans would be hit with a 40 percent excise tax. Keep in mind the tax is only on the amount in excess of the floor, so with an $11,000 individual
plan, only $800 would be taxed (the 40 percent rate would yield the government $320)."
Tax Increases on Income:
" Singles earning more than $200,000 and couples making more than $250,000 (in modified adjusted gross income) would pay an extra 0.9 percent of their
wage income. Plus, they’d pay an entirely new tax of 3.8 percent on investment income. This effectively raises the rate on capital gains and
dividends from 15 percent to nearly 19 percent."
Source: Christian Science Monitor
No More Deductions for Employers Who Provide Medicare Medicare Drug Coverage:
" Elimination, after this year, of a deduction employers now take for providing Medicare Part D prescription drug coverage to their retirees to the
extent that the federal government subsidizes the coverage."
Taxes Increased (Fines) on Healthcare Savings Accounts:
"Doubling the penalty for nonqualified distributions from health savings accounts, to 20%, beginning in 2011."
Limiting Contributions To Healthcare Savings Accounts (More Out Of Pocket Expenses):
"A limit on the amount that employees can contribute to health care flexible spending accounts to $2,500 a year. Under the House package of changes,
the cap won’t take effect until 2013."
These are just a few of the new taxes we are going to have to pay, and I know there are many here who will say "These don't even effect me, so why
should I care?" I don't even have to say anything in response to such a posting...we all know that taxes will eventually effect us even if we don't
tan or make over $200,000 a year.
Those we work for will have to compensate for their increased costs and that means eventual layoffs, increased prices at the markets, a hurt
Finally as I was watching the news this morning, they reported on the new fight we are all going to have to watch. Immigration Reform. While at
this moment illegal aliens cannot benefit from the new healthcare reform package, the immigration reform passage will put an estimated 10 million more
on the new healthcare reform programs, and that's not including all their families. And apparently those are conservative numbers.
Anyway have a great day in our new world of "Hope and Change".
(visit the link for the full news article)