Welcome to DU!
The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards.
Join the community:
Create a free account
Support DU (and get rid of ads!):
Become a Star Member
Latest Breaking News
Editorials & Other Articles
General Discussion
The DU Lounge
All Forums
Issue Forums
Culture Forums
Alliance Forums
Region Forums
Support Forums
Help & Search
General Discussion
In reply to the discussion: My wife and I were triply-screwed by health care insurance . . . [View all]"If someone who is able to afford $2800 a month because he/she makes enough money, and now pays $1200 a month instead and is happy about it, it enables those who don't make much to be subsidized and get good policies for say $150 a month, maybe less or a little more. "
...the bottom 26 percent of income earners are eligible for Medicaid under the expanded rules, and there is a new tax on high-income earners and the wealthy.
Reported when the law passed in 2010:
A big chunk of the money to pay for the bill comes from lifting payroll taxes on households making more than $250,000. On average, the annual tax bill for households making more than $1 million a year will rise by $46,000 in 2013, according to the Tax Policy Center, a Washington research group. Another major piece of financing would cut Medicare subsidies for private insurers, ultimately affecting their executives and shareholders.
http://www.nytimes.com/2010/03/24/business/24leonhardt.html
http://www.nytimes.com/2010/03/24/business/24leonhardt.html
It's the law, 2013:
Net Investment Income Tax
A new Net Investment Income Tax goes into effect starting in 2013. The 3.8 percent Net Investment Income Tax applies to individuals, estates and trusts that have certain investment income above certain threshold amounts. The IRS and the Treasury Department have issued proposed regulations on the Net Investment Income Tax. Comments may be submitted electronically, by mail or hand delivered to the IRS. For additional information on the Net Investment Income Tax, see our questions and answers.
Additional Medicare Tax
A new Additional Medicare Tax goes into effect starting in 2013. The 0.9 percent Additional Medicare Tax applies to an individuals wages, Railroad Retirement Tax Act compensation, and self-employment income that exceeds a threshold amount based on the individuals filing status. The threshold amounts are $250,000 for married taxpayers who file jointly, $125,000 for married taxpayers who file separately, and $200,000 for all other taxpayers. An employer is responsible for withholding the Additional Medicare Tax from wages or compensation it pays to an employee in excess of $200,000 in a calendar year. The IRS and the Department of the Treasury have issued proposed regulations on the Additional Medicare Tax. Comments may be submitted electronically, by mail or hand delivered to the IRS. For additional information on the Additional Medicare Tax, see our questions and answers.
http://www.irs.gov/uac/Affordable-Care-Act-Tax-Provisions
A new Net Investment Income Tax goes into effect starting in 2013. The 3.8 percent Net Investment Income Tax applies to individuals, estates and trusts that have certain investment income above certain threshold amounts. The IRS and the Treasury Department have issued proposed regulations on the Net Investment Income Tax. Comments may be submitted electronically, by mail or hand delivered to the IRS. For additional information on the Net Investment Income Tax, see our questions and answers.
Additional Medicare Tax
A new Additional Medicare Tax goes into effect starting in 2013. The 0.9 percent Additional Medicare Tax applies to an individuals wages, Railroad Retirement Tax Act compensation, and self-employment income that exceeds a threshold amount based on the individuals filing status. The threshold amounts are $250,000 for married taxpayers who file jointly, $125,000 for married taxpayers who file separately, and $200,000 for all other taxpayers. An employer is responsible for withholding the Additional Medicare Tax from wages or compensation it pays to an employee in excess of $200,000 in a calendar year. The IRS and the Department of the Treasury have issued proposed regulations on the Additional Medicare Tax. Comments may be submitted electronically, by mail or hand delivered to the IRS. For additional information on the Additional Medicare Tax, see our questions and answers.
http://www.irs.gov/uac/Affordable-Care-Act-Tax-Provisions
Edit history
Please sign in to view edit histories.
Recommendations
0 members have recommended this reply (displayed in chronological order):
79 replies
= new reply since forum marked as read
Highlight:
NoneDon't highlight anything
5 newestHighlight 5 most recent replies
RecommendedHighlight replies with 5 or more recommendations
It's a question I've asked myself 2-1/2 times over each month for the past 20 years. . .
Journeyman
Dec 2013
#8
Which is why Obamacare provides massive tax-credits for the working poor...
ConservativeDemocrat
Dec 2013
#30
Can you support your claim that Health Insurance is not making as much as they used to?
bvar22
Dec 2013
#60
Your message is "the ACA helps the insurance companies and not the rest of us".
riqster
Dec 2013
#54
I won't even start to say what the infernal 'free market' health insurance con did to my family...
freshwest
Dec 2013
#11
older people making over 400% FPL really get nailed. I've mentioned this numerous times.
antigop
Dec 2013
#15
I got beaten up over this a few weeks ago. My wife and I make a hair over the $72K cutoff
Flatulo
Dec 2013
#49
Should sign the "waiting list" to get on fox-nonsense to share your horror story...
Hulk
Dec 2013
#16
Makes me wish like hell our Dems would start pushing memes and framings about the GOP - like
calimary
Dec 2013
#22
I am glad for you, but the ACA is not an incremental step forward toward health care
Doctor_J
Dec 2013
#23
1200 a month is still a grand theft. It's better than before but that doesn't mean it's good.
Gravitycollapse
Dec 2013
#24
As I pointed out upthread, I'm just some schlub from the Southland, trying to get by . . .
Journeyman
Dec 2013
#25