#3065762 - 12/06/12 07:53 AM
Affordable Care is on the Way!
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de novo
10 Point
Registered: 07/21/08
Posts: 2851
Loc: Middle TN
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New Obamacare taxes start January 1. One of the more interesting and vague is the medical device tax.
According to the article common medical items like tongue depressors will be included. So as part of the Affordable Care Act you can count on medical, dental, PT, OT, chiropracter, etc. prices to increase in the near future.
Any other industry have a tax on gross sales?
The 2.3-percent tax must be paid, effective after December 31, by device-makers on their gross sales. The tax is expected to raise $29 billion in government revenues through 2022.
Companies including Boston Scientific Corp, 3M Co and Kimberly-Clark Corp have been lobbying the U.S. Congress for a repeal of the tax.
A repeal bill passed the Republican-controlled U.S. House of Representatives in June, but it has not been voted on by the Democratic-controlled Senate.
Many medical devices that are sold over-the-counter - such eyeglasses, contact lenses and hearing aids - are exempt from the tax, as are prosthetics, the IRS said.
The tax applies mostly to devices used and implanted by medical professionals, including items as complex as pacemakers or as simple as tongue depressors
http://www.reuters.com/article/2012/12/05/us-usa-tax-irs-idUSBRE8B41GW20121205
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#3065767 - 12/06/12 08:00 AM
Re: Affordable Care is on the Way!
[Re: de novo]
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Wildcat
Non-Typical
Registered: 06/10/00
Posts: 39083
Loc: Western Ky.
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Not to worry about those taxes.
The raise will be passed on to the customer like ALL taxes are.
_________________________
A Government that does not trust its law abiding citizens to keep and bear arms, is itself unworthy of trust..... - James Madison
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#3065822 - 12/06/12 08:38 AM
Re: Affordable Care is on the Way!
[Re: Wildcat]
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de novo
10 Point
Registered: 07/21/08
Posts: 2851
Loc: Middle TN
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Insurance companies have a limit on what they will pay. If the insurance companies do not increase these allowances then many providers will stop taking the insurance. Consumers will get hit with this increase or will receive cheaper, inferior medical products.
This tax will likely move more jobs overseas in an effort to avoid it.
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#3065856 - 12/06/12 08:55 AM
Re: Affordable Care is on the Way!
[Re: de novo]
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Pic IN the Casa
12 Point
Registered: 03/18/11
Posts: 5875
Loc: TN
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And still most of our population thinks this is all about the gubment taking care of us. When in reality it is about them taking control of us.
_________________________
Everyone who does evil hates the light, and will not come into the light for fear that their deeds will be exposed. John 3:20
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#3065971 - 12/06/12 10:18 AM
Re: Affordable Care is on the Way!
[Re: Pic IN the Casa]
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huntinkev
6 Point
Registered: 11/23/06
Posts: 786
Loc: East Tenn
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and this is supposed to give us "better" health care.
I Don't Think So.
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#3066053 - 12/06/12 11:13 AM
Re: Affordable Care is on the Way!
[Re: huntinkev]
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Hoss
TnDeer Old Timer
8 Point
Registered: 02/14/00
Posts: 1196
Loc: Hendersonville , TN
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I think they will have to ask you how much money you make, before they bill you for it, right? They cannot raise taxes on anyone who makes less than $250,000 per year, right? Right? I mean The President Said..... The internet said.... if its on the internet it has to be right.... Right???
I'm so confused!!
_________________________
"The future of bowhunting depends on effective education"..... Bill Wadsworth
A mere shadow of the man I once was... Me!
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#3066074 - 12/06/12 11:31 AM
Re: Affordable Care is on the Way!
[Re: de novo]
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Wes Parrish
16 Point
Registered: 06/12/02
Posts: 16959
Loc: Knoxville-Dover-Union City, TN
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Consumers will get hit with this increase or will receive cheaper, inferior medical products.
Consumers will get hit with this increase AND receive inferior medical products.
This tax will likely move more jobs overseas in an effort to avoid it.
There is no "likely" to it.
There is currently a MASS EXODUS of U.S. companies overseas, and the primary cause of this "hit" on our economy can now solidly be blamed on ObamaCare more than any other factor.
Have you ever noticed how the quality control of anything "Made in China" just isn't even close to U.S. manufacturing standards?
How would you like for your pacemaker to be "Made in China"?
There is a difference between "affordable" and "worthless".
But the true reality is that ObamaCare is more expensive and worth less than pre-ObamaCare.
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#3066093 - 12/06/12 11:42 AM
Re: Affordable Care is on the Way!
[Re: Hoss]
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Wes Parrish
16 Point
Registered: 06/12/02
Posts: 16959
Loc: Knoxville-Dover-Union City, TN
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They cannot raise taxes on anyone who makes less than $250,000 per year, right? Right?
Should history get reported correctly, it will show that the Obama Presidency produced the highest increase of taxes on Middle America in perhaps over 100 years.
The operative word is "taxes" rather than simply referring to "income taxes". Worse, most of the taxes are "hidden" from easy view by most Americans (who don't take the initiative to look). ObamaCare is full of a myriad of "hidden" taxes, even on real estate.
And although not considered a "tax", it's certainly "taxing" to be suffering from lower wages, something that's being produced by the Obama Economy. Average wages for Middle Class Americans have gone down under Obama, while inflation has crept up.
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#3066150 - 12/06/12 12:17 PM
Re: Affordable Care is on the Way!
[Re: Wes Parrish]
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Rebel
TnDeer Old Timer
10 Point
Registered: 03/16/99
Posts: 4481
Loc: East Tennessee USA
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my pay has gone down 3 times in the past 4 years.
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I want my country back...
Deo Duce Vincemus
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#3066263 - 12/06/12 01:25 PM
Re: Affordable Care is on the Way!
[Re: Wildcat]
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Wes Parrish
16 Point
Registered: 06/12/02
Posts: 16959
Loc: Knoxville-Dover-Union City, TN
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Not to worry about those taxes.
The raise will be passed on to the customer like ALL taxes are.
That is ALWAYS true that corporations don't pay taxes, as in reality, the taxes they pay are then added to the price of their products, i.e. the consumer always pays the taxes government levies on corporations.
It's actually an easy way for the federal government to dupe an ignorant populace. Simply villainize "big corporations", get the populace wanting to "punish" them, then raise the taxes on those big, evil corporations. Only problem is we all end up paying those taxes as individual consumers, and it doesn't matter whether we're financially poor, or rich, we pay the tax increases.
It's been so easy for the Obama administration to con the poor into taxing themselves under the guise of taxing those big, evil corporations. Speaking of which, any of you smoke? Cigarette taxes gone up since Obama became President? That alone has been a huge tax increase on approximately half of America's lowest-income segment where many of the working poor now pay more in cigarette taxes than they ever paid in income taxes under the Bush Presidency.
Not that some big companies aren't evil, but we're cutting our noses to spite our faces when we raise taxes on companies. Corporate taxes are paid by the consumers who buy the products.
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#3066264 - 12/06/12 01:26 PM
Re: Affordable Care is on the Way!
[Re: Wes Parrish]
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Wes Parrish
16 Point
Registered: 06/12/02
Posts: 16959
Loc: Knoxville-Dover-Union City, TN
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The worst aspect to this is our high corporate taxes give foreign nations a huge advantage in a global economy. A U.S. company can find it near impossible to compete with a foreign company making the same product for sale in the U.S. Thus, many U.S. companies are faced with the decision of either going bankrupt (closing down), or moving production to a foreign country (such as China). Either way, it's the high taxes imposed that ends up hurting our U.S. job market. As more people lose their jobs (or become under-employed), then the federal government needs more tax dollars to help the unemployed and the new poor.
Most recently, the highest taxes ever conceived on a company are coming per ObamaCare. Worse, this doesn't even include the cost of regulatory compliance (paying accountants & attorneys), i.e. just adding to why we're losing our competitiveness in the world marketplace.
Of course, the Obama Plan also seems to be doing the same things with the "evil rich" as they're doing with those "big, evil corporations". Yep, let's raise the tax on the rich, so we can watch them move their money to other countries, if not themselves. Anyone else notice how so many of the "rich" have left the State of New York? Isn't New York State technically bankrupt since so many of the rich have gone?
The Obama Plan is Trickle Up Poverty:
Kill the Geese That Lay the Golden Eggs
Best Way to Empower Government
(What it's really all about - power & control of the people by the elitist government).
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#3066272 - 12/06/12 01:35 PM
Re: Affordable Care is on the Way!
[Re: Wes Parrish]
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BMan
14 Point
Registered: 02/06/06
Posts: 8912
Loc: Middle TN
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Not to worry about those taxes.
The raise will be passed on to the customer like ALL taxes are. That is ALWAYS true that corporations don't pay taxes, as in reality, the taxes they pay are then added to the price of their products, i.e. the consumer always pays the taxes government levies on corporations. It's actually an easy way for the federal government to dupe an ignorant populace.
I have discussed this very issue with supposedly "smart" people numerous times who can't grasp that a company would pass on an expense to the consumer. Unbelievable.
_________________________
Rules are for people who lose fights.
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#3066273 - 12/06/12 01:35 PM
Re: Affordable Care is on the Way!
[Re: Rebel]
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Wes Parrish
16 Point
Registered: 06/12/02
Posts: 16959
Loc: Knoxville-Dover-Union City, TN
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my pay has gone down 3 times in the past 4 years.
And that is the same outcome to one's bottom line as raising taxes.
Sadly, most of us have seen both our incomes go down, and our taxes go up. This includes the working poor.
Just to add insult to our injuries, we are also still paying about twice as much per gallon of gas as we were 4 years ago. Sure, it's cheaper than it was a few months ago, but still twice what it was 4 years ago. What we need to do is raise the taxes on those big oil companies! Yea! That'd show 'em!
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#3066293 - 12/06/12 01:51 PM
Re: Affordable Care is on the Way!
[Re: BMan]
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Wes Parrish
16 Point
Registered: 06/12/02
Posts: 16959
Loc: Knoxville-Dover-Union City, TN
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I have discussed this very issue with supposedly "smart" people numerous times who can't grasp that a company would pass on an expense to the consumer. Unbelievable.
Boy, do I REALLY know what you mean.
I'm now convinced there must be a separate gene for "logic", and one of the "markers" for being born without it, is . . . . . . . . . . . . . . . . .
Much of my life, I've been surrounded by what many refer to as "Intellectuals", who would fall into the political left-wing category. Most are really nice, caring people. But they seem unable to apply basic math, basic human nature, much less the concept of "logic". Many of these score light years above the rest of us on an I.Q. test. But parachute us all into the African wilderness, and the "Intellectuals" will be the first to be eaten by an African lion, as they will think it's cute, then go try to pet it, while the rest of us are quickly making spears and building fires.
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#3066313 - 12/06/12 02:04 PM
Re: Affordable Care is on the Way!
[Re: Wes Parrish]
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preds1
10 Point
Registered: 10/16/09
Posts: 4487
Loc: Sumner County
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Just to add insult to our injuries, we are also still paying about twice as much per gallon of gas as we were 4 years ago. Sure, it's cheaper than it was a few months ago, but still twice what it was 4 years ago. What we need to do is raise the taxes on those big oil companies! Yea! That'd show 'em!
Exhibit #1.
http://youtu.be/uXV6FW9Vg0I
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#3066325 - 12/06/12 02:13 PM
Re: Affordable Care is on the Way!
[Re: preds1]
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Encore Eye Candy
10 Point
Registered: 08/29/00
Posts: 4007
Loc: 2 Chron. 7:14: Refs signature
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THe way I understood it the other day on fox news is that there is going to be a 2-3 percent tax on top of our F/W. So everyone is going to have a income tax increase no matter who you are.
_________________________
I don't like repeat offenders. I like DEAD offenders!!
Ted Nugent
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#3066530 - 12/06/12 04:31 PM
Re: Affordable Care is on the Way!
[Re: Encore Eye Candy]
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Wes Parrish
16 Point
Registered: 06/12/02
Posts: 16959
Loc: Knoxville-Dover-Union City, TN
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So everyone is going to have a income tax increase no matter who you are.
Actually, regarding this one particular tax increase you're thinking about, it does matter who you are. If you don't work and don't have any earned income, you will not be getting this particular tax increase.
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#3067330 - 12/07/12 06:04 AM
Re: Affordable Care is on the Way!
[Re: Wes Parrish]
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fishboy1
14 Point
Registered: 01/13/03
Posts: 9701
Loc: Warren Co
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Its actually worse than anybody realizes.
The US couldn't compete with the USSR in its current state.
The GLOBALIST ideas have been bleeding our country dry for years.
Progressive socialist keynesians are masters of the time bomb and death of a thousand cuts.
here is how it works. America wants to "help" poor countries so we agree to some trade agreement like NAFTA or dozens of other smaller treaties and foreign aid packages.
So the gub u ment does the following....
1. Give them favorable trade agreements which allows them to import goods to the US without tariffs. (making US businesses less competitive and EXPORTING wealth)
2. Gotta pay for all this so they UP the taxes on businesses.(making US businesses less competitive by driving up costs, bleeding more wealth from Americans)
3. Pass EPA rules and regulations against US businesses (making US businesses less competitive by driving up costs)
4. Pass OSHA rules and regulations against US businesses (making US businesses less competitive by driving up costs)
5. Pass Obumbla Care and the like (making US businesses less competitive by driving up costs)
6. Devalue the dollar through government spending and monetary policy. This immediately transfers YOUR wealth into the pockets of other countries as we pay MORE for the same goods they produce.
So the IDEA of globalism really revolves around KILLING American business by transferring the wealth of our nation abroad, stopping production here, and looting/killing business through regulation, taxes, and fees.
Edited by fishboy1 (12/07/12 06:07 AM)
_________________________
A gun in the hand is worth 2 cops on the phone. No one can name a single power the government has granted itself that hasn't been abused. Socialism is for losers http://amillerphotoevent.com
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#3067408 - 12/07/12 07:22 AM
Re: Affordable Care is on the Way!
[Re: fishboy1]
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Wes Parrish
16 Point
Registered: 06/12/02
Posts: 16959
Loc: Knoxville-Dover-Union City, TN
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So the IDEA of globalism really revolves around KILLING American business by transferring the wealth of our nation abroad, stopping production here, and looting/killing business through regulation, taxes, and fees.
Good summary of Obama's Plan, and what he meant when he said "spread it around".
Pretty good description of how socialism works on a global basis, too.
Global Socialism = Trickle Up Poverty
What should we expect by punishing success and rewarding failure?
More successes or more failures?
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#3067459 - 12/07/12 07:59 AM
Re: Affordable Care is on the Way!
[Re: Wes Parrish]
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waynesworld
8 Point
Registered: 05/13/12
Posts: 1441
Loc: Mboro, Tennessee
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I love it when the people that make 60-100 k say the large companies are not paying enough and want to raise the tax on the large companies so they don't have to pay as much. And then also say they also do not like what there retirement is doing. When I ask what they use for retirement they say the mutual funds mostly large cap stock. They seem to look puzzled when I start laughing at them. And ask who owns the large companies?
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