General Discussion
In reply to the discussion: My boss's boyfriend's employer is cutting jobs because of "Obamacare". [View all]Yo_Mama
(8,303 posts)Some of the ACA provisions are in effect now, and companies are beginning to plan for the 2014 date. It is 2012, after all.
Among the provisions in effect now are continuing coverage for kids (26) on their parent's policies. That is raising costs on some plans (kids with health problems are somewhat more likely to stay on their parents' plans longer). Also no coverage caps. That is raising costs on some plans.
But there are other aspects of the law that are causing some companies to make changes now. There is a cap to how much an employee can be charged for his/her premiums in relation to salary. For some companies with higher costs and a lot of lower paid employees, they will be fined even if they continue the grandfathered coverage, because they cannot meet that cost. The alternative is to raise the company's contributions for lower-paid employees, but that raises employment costs and therefore will cause some form of cost-cutting in the company.
As for the tax stats, you can look them up yourself here:
http://www.irs.gov/taxstats/indtaxstats/article/0,,id=129270,00.html
Table 4A is the easiest one to use, and the latest currently available is 2008.
For incomes between 200 & 500K, the average MTI percentage was 24.8%.
For incomes between 500K and 1 million, the average MTI percentage was 30.3%
For incomes in the lower millions, the MTI percentage is in the 32% range.
For incomes in the 2-10 million zone, the MTI percentage goes up to the 33% range.
At the ten million break, the MTI percentage drops again to the 32% range. There are only about 400 tax returns in this range.
MTI is modified taxable income, which is AGI minus stuff like charitable deductions.