Obama's Middle Class Tax Hikes

[howardroark]

1. Bush tax cut expiration - Obama has stated that he wishes to extend the Bush tax cuts for those earning under $250,000 for one year. Read that again. That means that in the beginning of 2014, middle and lower-income individuals can expect to see their tax bills increase.

2. Payroll tax cut expiration - The payroll tax cuts for middle and lower-income individuals are set to expire in the beginning of 2013.

3. Comprehensive Health Insurance Plan Tax - Starting in 2018, there will be a 40% tax on comprehensive health insurance plans ($10,200 single/$27,500 family) thanks to Obamacare. This tax is expected to hit a lot of unionized blue collar workers. This is a $32 billion tax hike.

4. High Medical Bills Tax - Starting in 2013,  the deduction for medical bills exceeding 7.5% of an individual's adjusted gross income will be cut: the threshold for medical deductions will be raised to 10% of adjusted gross income. This is a $15.2 billion tax hike on the sick.

5. Medicine Cabinet Tax - Americans are no longer able to use health savings account (HSA), flexible spending account (FSA), or health reimbursement (HRA) pre-tax dollars to purchase non-prescription, over-the-counter medicines (except insulin).

6. HSA Withdrawal Tax - Increases additional tax on non-medical early withdrawals from an HSA from 10 to 20 percent, disadvantaging them relative to IRAs and other tax-advantaged accounts, which remain at 10 percent.

7. Special Needs Kids Tax - Beginning of 2013, imposes cap of $2500 (Indexed to inflation after 2013) on FSAs (now unlimited). . There is one group of FSA owners for whom this new cap will be particularly cruel and onerous: parents of special needs children.  There are thousands of families with special needs children in the United States, and many of them use FSAs to pay for special needs education.  Tuition rates at one leading school that teaches special needs children in Washington, D.C. (National Child Research Center) can easily exceed $14,000 per year. Under tax rules, FSA dollars can be used to pay for this type of special needs education.

[Soul Crusher]

You think the leftist frauds care one bit?   Seriously? 


they don't give a shit at all so long as they kneepad Obama. 

[tonymctones]

what do the liberals on here think of this?

blacken, straw, 240, whork?

[whork]

Is 250.000$ a low-income?

[Soul Crusher]

Is 250.000$ a low-income?

250k by two earners in NYC , chi, LA, etc is not rich. 

[tonymctones]

hmmm, wonder why 240 and blacken havent posted in this thread?

[240 is Back]

hmmm, wonder why 240 and blacken havent posted in this thread?

1- a tax cut expiration.  That's like me crying about mcdonalds raising the price of Bic Macs cause they won't honor a coupon that expires, right?

[tonymctones]

1- a tax cut expiration.  That's like me crying about mcdonalds raising the price of Bic Macs cause they won't honor a coupon that expires, right?

so its a take cut when the reps want to extend it but not a tax hike when dems want to get rid of it?

got it...

[240 is Back]

Bush didnt make it a permanent thing - it was a temporary cut to the existing tax code.

It expired, which would have returned rates to their NORMAL starting point.  When it did, obama chose to renew this discount.

Now, it is expired again.  He's not raising taxes.  He's allowing a temporary discount to end, and rates to return to their normal levels.

We could be asking why Bush didn't make it a 50-year plan   He wnated it to expire in 2010 - he passed one in 2001 and one in 2003, and chose late 2010 because he knew that would benefit his party politically.

SO before you cry about obama raising taxes, as why Bush didn't issue them for more than 7/9 years?

[tonymctones]

Bush didnt make it a permanent thing - it was a temporary cut to the existing tax code.

It expired, which would have returned rates to their NORMAL starting point.  When it did, obama chose to renew this discount.

Now, it is expired again.  He's not raising taxes.  He's allowing a temporary discount to end, and rates to return to their normal levels.

We could be asking why Bush didn't make it a 50-year plan  He wnated it to expire in 2010 - he passed one in 2001 and one in 2003, and chose late 2010 because he knew that would benefit his party politically.

SO before you cry about obama raising taxes, as why Bush didn't issue them for more than 7/9 years?

ahh so this is bush's fault?

got it...

why do you and the dems say the reps want to cut taxes but extending them?

we hear it all the time, mitt wants tax cuts for the rich...if he is for simply extending the current rate, why is that a tax decrease?

you dont have anything else to say about the other taxes?

[Shockwave]

Why are you people arguing semantics? Who cares if its a return to normal levels or a tax hike? It shouldnt happen either way!

[whork]

Why are you people arguing semantics? Who cares if its a return to normal levels or a tax hike? It shouldnt happen either way!

So you want to disable military, stop making roads and hospitals etc.?

We owe a lot of money people

[Shockwave]

So you want to disable military, stop making roads and hospitals etc.?

We owe a lot of money people

Eh?
Raising taxes when the economy is already shit is a surefire way into another depression.
We need to slash federal spending on bullshit, not tax people more so the government can spend more.

[tonymctones]

So you want to disable military, stop making roads and hospitals etc.?

We owe a lot of money people

do you really feel that the govt makes efficient use of our money?

do you really think that there isnt a massive amount of waste in the govt in basically every sector?

if you dont then what issue do you have with cutting the waste and using the savings to cut the deficit and let ppl who earned their own money keep more of it?

[tonymctones]

Still nothing?

[tonymctones]

not burying this LMFAO

Huggy, Oz, Beach please pin this to the top

[tonymctones]

bump for the night

[whork]

do you really feel that the govt makes efficient use of our money?

do you really think that there isnt a massive amount of waste in the govt in basically every sector?

if you dont then what issue do you have with cutting the waste and using the savings to cut the deficit and let ppl who earned their own money keep more of it?

I agree there is a lot of waste.

However we are broke so not raising the taxes would be stupid it will generate some $$ and the rich wont miss it they have enough.

Its not perfect but its the hand we have been dealt.

To make rich people even richer in the richest country in the world is not the way to go

[whork]

Eh?
Raising taxes when the economy is already shit is a surefire way into another depression.
We need to slash federal spending on bullshit, not tax people more so the government can spend more.

Really? If that were true shouldnt the economy be fucking great by now with the tax cuts?

[Shockwave]

Really? If that were true shouldnt the economy be fucking great by now with the tax cuts?

What tax cuts are you speaking of?

[tonymctones]

I agree there is a lot of waste.

However we are broke so not raising the taxes would be stupid it will generate some $$ and the rich wont miss it they have enough.

Its not perfect but its the hand we have been dealt.

To make rich people even richer in the richest country in the world is not the way to go

Even if we took away all of the 1% money it would still only fund the govt for like 1/2 a year.

What do you not understand?

WE ARE SPENDING TO MUCH!!!!

[whork]

Even if we took away all of the 1% money it would still only fund the govt for like 1/2 a year.

What do you not understand?

WE ARE SPENDING TO MUCH!!!!

Okay well lets dismantle the military then

[Soul Crusher]

Okay well lets dismantle the military then

 

[whork]

Its great to say we need to cut spending but from where do you want to cut it?

[Soul Crusher]

Its great to say we need to cut spending but from where do you want to cut it?

Everything across the board.