Wednesday, August 12, 2009

THE OMAMMUNIST HEALTHCARE TAX BILL

After hearing about "outraged" citizens and "out of control" town hall meetings around the country, I decided to see for mahsef what is in House bill 3200 - Obommunist healthcare tax bill. (Not the official name).
The thing is huge (1300 pages) and it is pretty dry reading, but here are a couple of tidbits from my reading so far.
I have noted the sections, etc, sos you can look it up fo yosef.

Below is a couple of sections of the House bill.


TITLE IV--AMENDMENTS TO INTERNAL REVENUE CODE OF 1986

Subtitle A--Shared Responsibility

PART 1--INDIVIDUAL RESPONSIBILITY

SEC. 401. TAX ON INDIVIDUALS WITHOUT ACCEPTABLE HEALTH CARE COVERAGE.
(a) In General- Subchapter A of chapter 1 of the Internal Revenue Code of 1986 is amended by adding at the end the following new part:

‘PART VIII--HEALTH CARE RELATED TAXES

‘SEC. 59B. TAX ON INDIVIDUALS WITHOUT ACCEPTABLE HEALTH CARE COVERAGE.

‘(a) Tax Imposed- In the case of any individual who does not meet the requirements of subsection (d) at any time during the taxable year, there is hereby imposed a tax equal to 2.5 percent of the excess of-

‘(1) the taxpayer’s modified adjusted gross income for the taxable year, over
‘(2) the amount of gross income specified in section 6012(a)(1) with respect to the taxpayer. [income equal to or in excess of standard deduction plus allowed exemptions - me.]

‘(b) Limitations-
‘(1) TAX LIMITED TO AVERAGE PREMIUM-
‘(A) IN GENERAL- The tax imposed under subsection (a) with respect to any taxpayer for any taxable year shall not exceed the applicable national average premium for such taxable year.

[NOTE - So you pay for health insurance whether you sign up for it or not - mee]

......................................

SEC. 412. RESPONSIBILITIES OF NONELECTING EMPLOYERS.

(a) In General- Section 3111 of the Internal Revenue Code of 1986 is amended by redesignating subsection (c) as subsection (d) and by inserting after subsection (b) the following new subsection:

‘(c) Employers Electing to Not Provide Health Benefits-

‘(1) IN GENERAL- In addition to other taxes, there is hereby imposed on every nonelecting employer an excise tax, with respect to having individuals in his employ, equal to 8 percent of the wages (as defined in section 3121(a)) paid by him with respect to employment (as defined in section 3121(b)).

[NOTE - so, if an employer chooses to NOT provide employees health insurance, the employer must pay an 8 percent tax on each employee's base wages to the government. Think what that will add to the cost of doing business for your local merchants. - mee]

...............................

Is that hope and change stuff working for you yet?
Just you wait....

More to come...

In God we trust.

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