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think

(11,641 posts)
17. Here is the funding method from the link I provided you previously above:
Sun Nov 22, 2015, 12:50 AM
Nov 2015

“SEC. 59B. HEALTH CARE INCOME TAX.

“(a) Imposition Of Tax.—In the case of an individual, there is hereby imposed a tax (in addition to any other tax imposed by this subtitle) equal to the applicable amount with respect to the taxpayer for the taxable year.

“(b) Applicable Amount.—For purposes of this section—

“(1) IN GENERAL.—In the case of a taxpayer not described in paragraph (2), the applicable amount with respect to any taxable year shall be determined in accordance with the following table:



“If taxable income is: The applicable amount is:
Not over $200,000 2.2% of taxable income
Over $200,000 but not over $400,000 $4,400, plus 3.2% of the excess over $200,000
Over $400,000 but not over $600,000 $10,800, plus 4.2% of the excess over $400,000
Over $600,000 $19,200, plus 5.2% of the excess over $600,000.
“(2) JOINT RETURNS AND SURVIVING SPOUSES.—In the case of a joint return or a surviving spouse (as defined in section 2(a)), the applicable amount with respect to any taxable year shall be determined in accordance with the following table:



“If taxable income is: The applicable amount is:
Not over $250,000 2.2% of taxable income
Over $250,000 but not over $400,000 $5,500, plus 3.2% of the excess over $250,000
Over $400,000 but not over $600,000 $10,300, plus 4.2% of the excess over $400,000
Over $600,000 $18,700, plus 5.2% of the excess over $600,000.
“(3) INFLATION ADJUSTMENT.—

“(A) IN GENERAL.—In the case of any taxable year beginning after 2015, each of the dollar amounts in the tables contained in paragraphs (1) and (2) shall be increased by an amount equal to—

“(i) such dollar amount, multiplied by

“(ii) the cost-of-living adjustment determined under section 1(f)(3) for the calendar year in which the taxable year begins, determined by substituting ‘calendar year 2014’ for ‘calendar year 1992’ in subparagraph (B) thereof.

“(B) ROUNDING.—If any amount after adjustment under subparagraph (A) is not a multiple of $1,000, such amount shall be rounded to the next lowest multiple of $1,000.

“(c) No Credits Against Tax; No Effect On Minimum Tax.—The tax imposed by this section shall not be treated as a tax imposed by this chapter for purposes of determining—

“(1) the amount of any credit allowable under this chapter, or

“(2) the amount of the minimum tax imposed by section 55.

“(d) Special Rules.—

“(1) TAX TO BE WITHHELD, ETC.—For purposes of this title, the tax imposed by this section shall be treated as imposed by section 1.

“(2) REIMBURSEMENT OF TAX BY EMPLOYER NOT INCLUDIBLE IN GROSS INCOME.—The gross income of an employee shall not include any payment by his employer to reimburse the employee for the tax paid by the employee under this section.

“(3) OTHER RULES.—The rules of section 59A(d) shall apply to the tax imposed by this section.”.

(b) Clerical Amendment.—The table of parts for subchapter A of chapter 1 is amended by adding at the end the following new item:

“PART VIII—HEALTH CARE RELATED TAXES”.
(c) Effective Date.—The amendments made by this section shall apply to taxable years beginning after December 31, 2014.


SEC. 813. SURCHARGE ON HIGH INCOME INDIVIDUALS.
(a) In General.—Part VIII of subchapter A of chapter 1, as added by this title, is amended by adding at the end the following new subpart:


“Subpart B—Surcharge On High Income Individuals

“Sec.?59C.?Surcharge on high income individuals.

“SEC. 59C. SURCHARGE ON HIGH INCOME INDIVIDUALS.
“(a) General Rule.—In the case of a taxpayer other than a corporation, there is hereby imposed (in addition to any other tax imposed by this subtitle) a tax equal to 5.4 percent of so much of the modified adjusted gross income of the taxpayer as exceeds $1,000,000.

“(b) Taxpayers Not Making A Joint Return.—In the case of any taxpayer other than a taxpayer making a joint return under section 6013 or a surviving spouse (as defined in section 2(a)), subsection (a) shall be applied by substituting ‘$500,000’ for ‘$1,000,000’.

“(c) Modified Adjusted Gross Income.—For purposes of this section, the term ‘modified adjusted gross income’ means adjusted gross income reduced by any deduction (not taken into account in determining adjusted gross income) allowed for investment interest (as defined in section 163(d)). In the case of an estate or trust, adjusted gross income shall be determined as provided in section 67(e).

“(d) Special Rules.—

“(1) NONRESIDENT ALIEN.—In the case of a nonresident alien individual, only amounts taken into account in connection with the tax imposed under section 871(b) shall be taken into account under this section.

“(2) CITIZENS AND RESIDENTS LIVING ABROAD.—The dollar amount in effect under subsection (a) (after the application of subsection (b)) shall be decreased by the excess of—

“(A) the amounts excluded from the taxpayer’s gross income under section 911, over

“(B) the amounts of any deductions or exclusions disallowed under section 911(d)(6) with respect to the amounts described in subparagraph (A).

“(3) CHARITABLE TRUSTS.—Subsection (a) shall not apply to a trust all the unexpired interests in which are devoted to one or more of the purposes described in section 170(c)(2)(B).

“(4) NOT TREATED AS TAX IMPOSED BY THIS CHAPTER FOR CERTAIN PURPOSES.—The tax imposed under this section shall not be treated as tax imposed by this chapter for purposes of determining the amount of any credit under this chapter or for purposes of section 55.”.

(b) Clerical Amendment.—The table of subparts for part VIII of subchapter A of chapter 1, as added by this title, is amended by inserting after the item relating to subpart A the following new item:

“SUBPART B—SURCHARGE ON HIGH INCOME INDIVIDUALS”.
(c) Section 15 Not To Apply.—The amendment made by subsection (a) shall not be treated as a change in a rate of tax for purposes of section 15 of the Internal Revenue Code of 1986.

(d) Effective Date.—The amendments made by this section shall apply to taxable years beginning after December 31, 2014.

Subtitle C—Other Financing Provisions

SEC. 821. TAX ON SECURITIES TRANSACTIONS.
(a) In General.—Chapter 36 is amended by inserting after subchapter B the following new subchapter:


“Subchapter C—Tax On Securities Transactions

“Sec.?4475.?Tax on securities transactions.

“SEC. 4475. TAX ON SECURITIES TRANSACTIONS.
“(a) Imposition Of Tax.—There is hereby imposed a tax on each covered transaction with respect to any security.

“(b) Rate Of Tax.—

“(1) IN GENERAL.—Except as otherwise provided in this subsection, the rate of such tax shall be equal to 0.02 percent of the fair market value of the security.

“(2) SWAPS.—In the case of a security described in subsection (d)(1)(D), the rate of such tax shall be equal to 0.02 percent of the fair market value of the underlying property with respect to, or the notional principal amount of, the derivative financial instrument involved in such transaction.

“(3) SHORT-TERM DEBT INSTRUMENTS.—In the case of a covered transaction with respect to a security described in subsection (d)(1)(C) which has a fixed maturity date not more than 1 year from the date of issue, the rate of such tax shall be equal to 0.02 percent of the fair market value of such security.

“(c) Covered Transaction.—For purposes of this section, the term ‘covered transaction’ means—

“(1) except as provided in paragraph (2), any purchase if—

“(A) such purchase occurs on a trading facility located in the United States, or

“(B) the purchaser or seller is a United States person, or

“(2) any transaction with respect to a security described in subsection (d)(1)(D), if any party with rights under such security is a United States person or if such transaction is facilitated by a United States person, including a trading facility located in the United States or a broker.

“(d) Security And Other Definitions.—For purposes of this section—

“(1) IN GENERAL.—The term ‘security’ means—

“(A) any share of stock in a corporation,

“(B) any partnership or beneficial ownership interest in a widely held or publicly traded partnership or trust,

“(C) any note, bond, debenture, or other evidence of indebtedness issued by a nongovernmental entity the beneficial ownership of which is traded on an established market, or

“(D) any evidence of an interest in, or a derivative financial instrument in—

“(i) any security described in subparagraph (A), (B), or (C),

“(ii) any specified index, or

“(iii) any other note, bond, or debenture issued by a nongovernmental entity.

“(2) DERIVATIVE FINANCIAL INSTRUMENT.—The term ‘derivative financial instrument’ means any option, forward contract, short position, notional principal contract, credit default swap, or any similar financial instrument.

“(3) SPECIFIED INDEX.—The term ‘specified index’ means any 1 or more of any combination of—

“(A) a fixed rate, price, or amount, or

“(B) a variable rate, price, or amount,

which is based on any current objectively determinable information which is not within the control of any of the parties to the contract or instrument and is not unique to any of the parties’ circumstances.

“(e) Exceptions To Imposition Of Tax.—

“(1) EXCEPTION FOR INITIAL ISSUES.—No tax shall be imposed under subsection (a) on any covered transaction with respect to the initial issuance of any security described in subparagraph (A), (B), or (C) of subsection (d)(1).

“(2) EXCEPTION FOR RETIREMENT ACCOUNTS, ETC.—No tax shall be imposed under subsection (a) on any covered transaction with respect to any security which is held in any plan, account, or arrangement described in section 220, 223, 401(a), 403(a), 403(b), 408, 408A, 529, or 530 (including assets held in a segregated asset account described in section 817 as part of any such plan, account, or arrangement).

“(3) EXCEPTION FOR CERTAIN MUTUAL FUND TRANSACTIONS.—No tax shall be imposed under subsection (a) on any covered transaction—

“(A) with respect to the purchase of any interest in a regulated investment company (as defined in section 851) which issues only stock which is redeemable on the demand of the stock holder,

“(B) by a regulated investment company (as so defined) which is 100 percent owned by 1 or more plans, accounts, or arrangements described in paragraph (2), and

“(C) to the extent such tax is properly allocable to any class of shares of a regulated investment company (as so defined) which is 100 percent owned by 1 or more plans, accounts, or arrangements described in paragraph (2).

“(f) By Whom Paid.—

“(1) IN GENERAL.—The tax imposed by this section shall be paid by—

“(A) in the case of a transaction which occurs on a trading facility located in the United States, such trading facility,

“(B) in the case of a transaction not described in subparagraph (A) which is executed by a broker, such broker,

“(C) in the case of a transaction not described in subparagraph (A) or (B), with respect to a security described in section (d)(1)(D), the party identified by the Secretary, or

“(D) in any other case, the purchaser with respect to the transaction.

“(2) WITHHOLDING IF PURCHASER IS NOT A UNITED STATES PERSON.—See section 1447 for withholding by seller if purchaser is a foreign person.

“(g) Administration.—The Secretary shall carry out this section in consultation with the Securities and Exchange Commission and the Commodity Futures Trading Commission.

“(h) Guidance; Regulations.—The Secretary shall—

“(1) provide guidance regarding such information reporting concerning covered transactions as the Secretary deems appropriate, and

“(2) prescribe such regulations as are necessary or appropriate to prevent avoidance of the purposes of this section, including the use of non-United States persons in such transactions or the improper allocation of taxes to classes of shares described in subsection (e)(3)(C).”.

(b) Credit For First $100,000 Of Stock Transactions Per Year.—Subpart C of part IV of subchapter A of chapter 1 is amended by inserting after section 36B the following new section:

“SEC. 36C. CREDIT FOR SECURITIES TRANSACTION TAXES.

“(a) Allowance Of Credit.—In the case of any purchaser with respect to a covered transaction, there shall be allowed as a credit against the tax imposed by this subtitle for the taxable year an amount equal to the lesser of—

“(1) the aggregate amount of tax imposed under section 4475 on covered transactions during the taxable year with respect to which the taxpayer is the purchaser, or

“(2) $250 ($500 in the case of a joint return).

“(b) Aggregation Rule.—For purposes of this section, all persons treated as a single employer under subsection (a) or (b) of section 52, or subsection (m) or (o) of section 414, shall be treated as one taxpayer.

“(c) Definitions.—For purposes of this section, any term used in this section which is also used in section 4475 shall have the same meaning as when used in section 4475.”.

(c) Withholding.—Subchapter A of chapter 3 is amended by adding at the end the following new section:


“SEC. 1447. WITHHOLDING ON SECURITIES TRANSACTIONS.
“(a) In General.—In the case of any outbound securities transaction, the transferor shall deduct and withhold a tax equal to the tax imposed under section 4475 with respect to such transaction.

“(b) Outbound Securities Transaction.—For purposes of this section, the term ‘outbound securities transaction’ means any covered transaction to which section 4475(a) applies if—

“(1) such transaction does not occur on a trading facility located in the United States, and

“(2) the purchaser with respect to such transaction is not a United States person.”.

(d) Conforming Amendments.—

(1) Section 6211(b)(4)(A), as amended by the Patient Protection and Affordable Care Act, is amended by inserting “36C,” after “36B,”.

(2) Section 1324(b)(2) of title 31, United States Code, is amended by inserting “36C,” after “36B,”.

(3) The table of subchapters for chapter 36 is amended by inserting after the item relating to subchapter B the following new item:


“Subchapter C. Tax on securities transactions.”.
(4) The table of sections for subchapter A of chapter 3 is amended by adding at the end the following new item:


“Sec.?1447.?Withholding on securities transactions.”.
(5) The table of sections for subpart C of part IV of subchapter A of chapter 1 is amended by inserting after the item relating to section 36B the following new item:


“Sec. 36C. Credit for securities transaction taxes.”.
(e) Effective Date.—The amendments made by this section shall apply to transactions occurring more than 180 days after the date of the enactment of this Act.


https://www.congress.gov/bill/113th-congress/senate-bill/1782/text#toc-HFBDCE6D9AD1C489A97F718FB5256733
Here are links to a summary & full text of the 2013 Single Payer bill Sanders submitted to congress think Nov 2015 #1
LOL hill2016 Nov 2015 #9
Canada's healthcare system developed in a similar fashion. Does America lack the ability think Nov 2015 #14
Too many red states exist--Look at what has happened to the folks in riversedge Nov 2015 #27
I posted this earlier today Jarqui Nov 2015 #2
like Hillary pointed out during the second debate hill2016 Nov 2015 #10
Medicare.For.All. Karma13612 Nov 2015 #13
Which Red states do not have Medicare? AgingAmerican Nov 2015 #35
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And you think Hillary can Duckhunter935 Nov 2015 #4
No. That's why these crazy promises make me irritated. bravenak Nov 2015 #6
We can agree on something Duckhunter935 Nov 2015 #8
LOL! The Clintons couldn't get HeritageFoundationCare through Congress. merrily Nov 2015 #7
A good chunk of the New Deal was passed using executive orders AgingAmerican Nov 2015 #36
Wow another post against Bernie Duckhunter935 Nov 2015 #5
no hill2016 Nov 2015 #11
Link to one that called you an idiot Duckhunter935 Nov 2015 #12
here you go hill2016 Nov 2015 #15
Here is the funding method from the link I provided you previously above: think Nov 2015 #17
I guess that is not good enough Duckhunter935 Nov 2015 #21
You and your darn facts. LOL. Vinca Nov 2015 #22
Holy crap ismnotwasm Nov 2015 #26
It's way cheaper than what we have now AgingAmerican Nov 2015 #37
That's a link to your own post Duckhunter935 Nov 2015 #20
You said: "There's nothing medically that can be done to cure diabetes or obesity right?" AgingAmerican Nov 2015 #40
So right here in this thread... ljm2002 Nov 2015 #34
For Profit Healthcare Is So Wrong colsohlibgal Nov 2015 #16
Do you know the Health Care Reform Plan of the Clinton Administration and in 2008? Rilgin Nov 2015 #18
Bernie wrote the provisions in ACA for community health karynnj Nov 2015 #19
He's also responsible for the opening of local VA satellite clinics. Vinca Nov 2015 #23
Exactly, both of these are important and help people and he is the primary legislator karynnj Nov 2015 #24
"...lead Senator on the entire VA bill." tazkcmo Nov 2015 #30
Yes she has! MoonRiver Nov 2015 #25
+1 NurseJackie Nov 2015 #28
That's what I think too. Hoyt Nov 2015 #31
And failed. tazkcmo Nov 2015 #29
You are not allowed UglyGreed Nov 2015 #32
Two words. Hillary Care. JoePhilly Nov 2015 #39
First of all... ljm2002 Nov 2015 #33
She was pushing insurance reform AgingAmerican Nov 2015 #38
Latest Discussions»Retired Forums»2016 Postmortem»Hillary has been fighting...»Reply #17