Let's EXAMINE The Health Care Bill HR 3962 ( Archived) (11)

First, please download the pdf file of this bill so we can go over it. I will be referencing pages for you to read.



The following are new HR 3962 taxes according to Americans for Tax Reform:
Employer Mandate Excise Tax (Page 275): If an employer does not pay 72.5 percent of a single employee’s health premium (65 percent of a family employee), the employer must pay an excise tax equal to 8 percent of average wages. Small employers (measured by payroll size) have smaller payroll tax rates of 0 percent (<$500,000), 2 percent ($500,000-$585,000), 4 percent ($585,000-$670,000), and 6 percent ($670,000-$750,000).
Individual Mandate Surtax (Page 296): If an individual fails to obtain qualifying coverage, he must pay an income surtax equal to the lesser of 2.5 percent of modified adjusted gross income (MAGI) or the average premium. MAGI adds back in the foreign earned income exclusion and municipal bond interest.

Medicine Cabinet Tax (Page 324): Non-prescription medications would no longer be able to be purchased from health savings accounts (HSAs), flexible spending accounts (FSAs), or health reimbursement arrangements (HRAs). Insulin excepted.

Cap on FSAs (Page 325): FSAs would face an annual cap of $2500 (currently uncapped).

Increased Additional Tax on Non-Qualified HSA Distributions (Page 326): Non-qualified distributions from HSAs would face an additional tax of 20 percent (current law is 10 percent). This disadvantages HSAs relative to other tax-free accounts (e.g. IRAs, 401(k)s, 529 plans, etc.)

Denial of Tax Deduction for Employer Health Plans Coordinating with Medicare Part D (Page 327): This would further erode private sector participation in delivery of Medicare services.
Surtax on Individuals and Small Businesses (Page 336): Imposes an income surtax of 5.4 percent on MAGI over $500,000 ($1 million married filing jointly). MAGI adds back in the itemized deduction for margin loan interest. This would raise the top marginal tax rate in 2011 from 39.6 percent under current law to 45 percent—a new effective top rate.

Excise Tax on Medical Devices (Page 339): Imposes a new excise tax on medical device manufacturers equal to 2.5 percent of the wholesale price. It excludes retail sales and unspecified medical devices sold to the general public.

Corporate 1099-MISC Information Reporting (Page 344): Requires that 1099-MISC forms be issued to corporations as well as persons for trade or business payments. Current law limits to just persons for small business compliance complexity reasons. Also expands reporting to exchanges of property.

Delay in Worldwide Allocation of Interest (Page 345): Delays for nine years the worldwide allocation of interest, a corporate tax relief provision from the American Jobs Creation Act

Limitation on Tax Treaty Benefits for Certain Payments (Page 346): Increases taxes on U.S. employers with overseas operations looking to avoid double taxation of earnings.

Codification of the “Economic Substance Doctrine” (Page 349): Empowers the IRS to disallow a perfectly legal tax deduction or other tax relief merely because the IRS deems that the motive of the taxpayer was not primarily business-related.

Application of “More Likely Than Not” Rule (Page 357): Publicly-traded partnerships and corporations with annual gross receipts in excess of $100 million have raised standards on penalties. If there is a tax underpayment by these taxpayers, they must be able to prove that the estimated tax paid would have more likely than not been sufficient to cover final tax liability.

Oh.. Oh Doll Face...
Better get your boxing gloves on..
the crazies gonna come out of the wood-work now.
I'm not very good in the "debating arena"..
but iffin ya need some back-up..
Just yell..
I gots lots of pals..
AND all tax-payers, Patriots, and prepared..


---SoldierByte---

Thanks baby! I don't think they are wanting to get to the "meat" of this issue. Many suffer from OSD, Ostrich Syndrome Disorder.

I post this because the Majority of Americans do not know. It is for their benefit. I did not get my info from the media. I have the Bill and I viewed the live broadcasts from the House. Much was revealed at those meetings.

Doesn't anyone want to be informed??
Do you want to pay these Huge TAXES?

Now, here comes the good part.
My next posting in this thread reveals the penalties for YOU Not paying your Health Care TAX! It's straight from the Bill!

297
•HR 3962
1 ‘‘SEC. 59B. TAX ON INDIVIDUALS WITHOUT ACCEPTABLE
2 HEALTH CARE COVERAGE.
3 ‘‘(a) TAX IMPOSED.—In the case of any individual
4 who does not meet the requirements of subsection (d) at
5 any time during the taxable year, there is hereby imposed
6 a tax equal to 2.5 percent of the excess of—
7 ‘‘(1) the taxpayer’s modified adjusted gross income
8 for the taxable year, over
9 ‘‘(2) the amount of gross income specified in
10 section 6012(a)(1) with respect to the taxpayer.
11 ‘‘(b) LIMITATIONS.—
12 ‘‘(1) TAX LIMITED TO AVERAGE PREMIUM.—
13 ‘‘(A) IN GENERAL.—The tax imposed
14 under subsection (a) with respect to any tax
15 payer for any taxable year shall not exceed the
16 applicable national average premium for such
17 taxable year.
18 ‘‘(B) APPLICABLE NATIONAL AVERAGE
19 PREMIUM.—
20 ‘‘(i) IN GENERAL.—For purposes of
21 subparagraph (A), the ‘applicable national
22 average premium’ means, with respect to
23 any taxable year, the average premium (as
24 determined by the Secretary, in coordina
25 tion with the Health Choices Commis
26 sioner) for self-only coverage under a basic

298
•HR 3962
1 plan which is offered in a Health Insur
2 ance Exchange for the calendar year in
3 which such taxable year begins.
4 ‘‘(ii) FAILURE TO PROVIDE COVERAGE
5 FOR MORE THAN ONE INDIVIDUAL.—In the
6 case of any taxpayer who fails to meet the
7 requirements of subsection (d) with respect
8 to more than one individual during the tax
9 able year, clause (i) shall be applied by
10 substituting ‘family coverage’ for ‘self-only
11 coverage’.
12 ‘‘(2) PRORATION FOR PART YEAR FAILURES.—
13 The tax imposed under subsection (a) with respect
14 to any taxpayer for any taxable year shall not exceed
15 the amount which bears the same ratio to the
16 amount of tax so imposed (determined without re
17 gard to this paragraph and after application of para
18 graph (1)) as—
19 ‘‘(A) the aggregate periods during such
20 taxable year for which such individual failed to
21 meet the requirements of subsection (d), bears
22 to
23 ‘‘(B) the entire taxable year.

Yep...
Right back to the begining..
those who do, achieve,attain, have
AND pay taxes.. will PAY more..
and those who have, done, achieved, attaine
nothing will REAP from those who "do"..
But wait..!!!
Not all that bad..
I can get on welfare, not work,
have children out of wedlock,
drop out of school,
then refuse menial jobs of which
that is all I am qualifed for..
and let YOU pay and GIVE me...!!!
Now that's the kind of America only a liberal can love..
Where is the line..??
I'm signing up now..!!!
(if it was not so utterly insane some
would really believe we will not fight
this through the Senate
and would allow this to become law )
---SoldierByte---

The Senate is currently working on their OWN Health Care REFORM
Bill which may prove to be a True Bill of Reform!!!

The Dems are in their Glory right now but will soon hang their heads in shame!

Their Bill has 13 New taxes and opens the door to 111 new Federal Bureaucratic entities. I suppose this is where they determined that this Bill would create more JOBS?

First, it is against the Law in the US for the Government to force people to buy anything. Somehow the dictator potato heads in the White House seem to have forgotten this Law. So they just are committing Treason against the American people.

Second, small business and even large businesses will simply cut back on hiring people and even will fire people because they will not have enough money to pay for everyones health care. So expect the unemployment rate to triple and go out of site, worse than a depression all caused by the white house potato heads brain storming.

Third, the average person will pay as much as 15% of each paycheck to just health care if they have to buy their own. In this day and age, no low income or even middle class family can afford that and still make ends meet.

So what this is going to do is just making living so hard nobody will be able to survive without becoming a gun dealer, a drug dealer or simply becoming a criminal to just live.
Think the crime rate is bad now, just wait. People will do anything to survive. This is just the beginning of the darkest days yet to come. This is truly a very serious matter to everyone in America, but so many are blind as to what will come they are just ignoring the facts and thinking things will just work out by themselves.

Look.. Here is what I tried to explain
on another thread..
but it is the SAME debate here..
= = = = = = = = = = = = = = = = = = = = = = = = =
the debate here is NOT health care..per-se
It is WHO will pay..
You can give health Care to everyone in the world,
AND include the next three planets too..
It is all fine with me..
BUT I DO not want to pay for it..
and when, or IF I do decide to "give to charity"
for those who cannot afford..
WHO the HELL are they to TELL me, DEMAND,
and state what I should give, do, and sustain..??
Please... quit whining, READ
the darn thing, and give ME a break.....
---SoldierByte---
= = = = = = = = = = = = = = = = = = = = = = = = = =

I READ THAT DAMN OBAMACARE HEALTHCARE REFORM BILL!!!!!!!!!!

AND THIS IS WHAT I THINK OF IT