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Friday, August 3, 2012

The Costly Consequence of Health Care Reform

 

The Costly Consequences of Health Care Reform (Courtesy of the Budget Committee)

image-descriptionPaul Ryan, Chairman, Committee on the Budget, U.S. House of Representatives

 

Let’s carry that a little bit more, forward, “If you earned a medical degree, or PhD, thank the government.  I remember borrowing and working my way through college and medical school.  The government did not give me loans, the banks did and the government ‘backed them’ since students did not have income or usual credit standing.  For a man who went to Harvard, Obama does not seem to understand very much. Who paid for his education?  Did he make it on his own, does he thank the government for what he has….the best insurance in the nation, a 747 to fly on, limousines, secret service, free room and board.  Barry, give us a break ! You are a liar and a hypocrite.  I don’t expect you to tell us that you lie, liars never do and liars never even know they lie !

Posted April 8, 2010

“I can make a firm pledge.  Under my plan, no family making less than $250,000 a year will see any form of tax increase.  Not your income tax, not your payroll tax, not your capital gains taxes, not any of your taxes,”
President Obama, September 12, 2008

Beginning January 1, 2013, Obama Care imposes a 3.8% Medicare tax on unearned income of “high-income” taxpayers which could apply to proceeds from the sale of single family homes, townhouses, co-ops, condominiums, and even rental income, depending on your individual circumstances and any capital gains tax exclusions. Importantly, the “high income” thresholds are not indexed for inflation so will reach increasing numbers of middle-class taxpayers over time.

In February 2010, 5.02 million homes were sold, according to the National Association of Realtors (NAR). On any given day, the sale of a house, townhome, condominium, co-op, or income from a rental property could slam middle-income families with a new tax they can’t afford.

The new Obama Care tax is the first time the government will apply a 3.8 percent tax on unearned income. This new tax on home sales and unearned income and other Medicare taxes raise taxes more than $210 billion to pay for Obama Care.

The Costly Consequences of Health Care Reform (A legislative Review)

The issues are bi-partisan, Responsibility lies both at the feet of Republicans and Democrats.  Neither side can plead innocence.

 

1 comment:

Kay Walker said...

What's wrong with extra tax on people whose family income is over $250 000 pa? Especially on investment income, although I'm a bit worried about extra tax on sales of family homes. However on sales of extra homes used for income, of course they should attract a high tax- no one can enjoy income from property unless they are already rich enough to buy it! Why do rich people need better health care than the rest, anyway? Wouldn't you rather get the right operation at the right time for your burst gall bladder in a normal, clean, efficient hospital and allow some money for your less-wealthy neighbour down the road to have the same op when they need it? Sure, you could pay for a surgeon that someone says is "top" and have silk sheets on your bed and a private spa bath- but who wants to glorify a stay in hospital or stay longer in such an unfamiliar environment? Your silk sheets might mean the neighbour's gall bladder bursts & dies of gangrene at 40. Who wants that?