OBAMACARE TAX -- 1 OF UP TO 13 TO BE REPORTED


This article  addresses one of thirteen new taxes now reported to be in the ACA (Obamacare). As it turns out, not only did we "have to pass the bill to find out what is in it" a la Pelosi, it now is clear that we must implement and experience the ACA to find the truths. Others of the 13 taxes will be reported here as we confirm them and analyze their effects.

The author, Dr. Robert Warren is a retired DOD executive and now heads a consulting firm doing work in accident investigations, especially rail and ocean going vessels. He is well-respected for his intellectual integrity in analyzing issues and for his capability to write about them meaningfully. objectively and truthfully.


Yet Another Nightmare [of Obamacare]?

By Dr. Robert Warren, PhD

Within the next year, tens of millions of working folk will find themselves involved with the “obamacare exchanges”. So far, more than six million individuals have suffered the loss of their health coverage. But there is an even greater loss about to occur.

When a business is forced to end group coverage, their workers will have no choice but to buy the insurance offered on the “obamacare exchanges” or pay a fine. Now here is where it gets interesting. What happens if their employer decides to pay at least some portion of the new healthcare plan’s cost?

Currently, when an employer buys a group healthcare plan for his workers, the benefit is generally non-taxable to the worker. However, as it now stands, if an employer pays any portion of a worker’s “obamacare” plan, the result will be an increase in taxable income.

For decades, the federal government has been trying to find a way to tax non-taxable health insurance benefits provided by employers. It appears they have found a way. Not only will American workers be hit with the cost of unnecessary and expensive obamacare plans, but it now looks like they will be hit by a massive income tax increase if their employer tries to help defray the plan costs.

The wealth transfer and income redistribution intentions of the federal government will continue in 2014 and for a number of additional years. The working middle class best tighten its belt once more, and maybe punch a new hole in it. And just maybe the people who work for a living or hope to work for a living ought to ask themselves if government should be given more power to spend and regulate.

Comments

Post a Comment

Popular posts from this blog

AMERICAN AIRLINES -- MORE ABOUT UNIONS AND CH 11

I apologize for the structure of the post below, with no segmentation, but the system refuses to do it my way. To my post yesterday re AMR's chapter 11 filing relating my experiences over many years flying with AA, an AA pilot wrote a thoughtful comment that caused me to think a bit more about the precursors to conditions of their bankruptcy. Frankly, I have what is perhaps too much experience with trade unions and their excesses, but know less about others such as the airlines. After learning more about the negotiations of AA with their unions, I now think it's justifiable to post the comments below. I've seen too many industries destroyed by union excesses coupled with management incompetence in caving to excess demands. Start with coal (dead for many years), steel, textiles, shoes, electronics manufacturing, and more.  The Detroit 3 (once the big 3) deserves special mention. As their costs rose to $72/hour (fully loaded) and costs in the southern industry w
Read more

LEFTIST MIND-SET OF TODAY -- REFLEXIVE, THOUGHTLESS SUPPORT FOR THE OBAMA ADMINISTRATION

"Trying to persuade a prejudiced mind is as Sisyphean as trying to open a closed mind is Quixotic." Mann, May 2012 In a blog post herein below on May 1, 2013, I outlined what we who manage people and enterprises know as absolutes about performances of people who are put into management and supervisory positions for which they haven't requisite qualifications. For those who have progressed through several jobs to their level of incompetence, this is known as the Peter Principle as defined by Laurence J. Peter. In all likelihood, all who have managed people for any length of time have seen this principle played out. While Peter's observation applies to progression through multiple job levels, if a person is put into any job for which he is unqualified, the concept is also valid. Elective political positions is where I see this most often played out. The election of Barack Obama as President of the United States is the most significant example of this in my lif
Read more

ETHANOL -- The worst mandate ever gets even worse

When politicians get control of science and the inept or dishonest scientists, nothing good comes of it. There are many examples -- global warming (aka climate change) is the most prominent. The ethanol mandate, although a part of the climate change mania, stands on its own as arguably the most ridiculous mandate of all time. President Jimmy Carter, who was influenced by a misguided college professor, can be charged with the mistake of promulgating the ethanol mandate.  Of course, Al Gore is the politician who played the global warming issue like a drum and has benefited financially from it. Use of ethanol in motor fuel is not a net positive either in costs or in impact on the environment.... enormous hype to the contrary notwithstanding. Ethanol does not have the positive effect on the environment as touted. It has only about 60% of the specific energy of petroleum fuel, which begs use of more fuel to achieve the same energy as petroleum fuel. And, so it does. I have my own experie
Read more