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freshwest

freshwest's Journal
freshwest's Journal
October 27, 2013

Changes in taxes on higher income due to the ACA:

Below is a summary of several of the tax law changes that are effective beginning in 2013 and 2014.

Increased Medicare Hospital Insurance Tax

For tax years beginning in 2013, the ACA provides for an increase in the Medicare hospital insurance (HI) tax rate. The HI tax is one of two taxes that comprise the Federal Insurance Contribution Act (FICA) taxes imposed on employers. The other FICA tax is the Old Age, Survivors and Disability Insurance tax. FICA taxes are imposed separately on employers and employees. Self-employed individuals pay an alternative tax, which is essentially equal to both the employer and employee portion of the FICA taxes. Employers pay FICA taxes on wages paid in connection with employment, while employees pay FICA taxes on wages received. The HI tax rate is presently equal to 1.45 percent on wages paid and is not subject to a wage cap.
Beginning in 2013, the ACA increases the HI tax rate for certain “high-income” individuals. An additional HI tax is imposed at a rate of 0.9 percent on taxpayers with wages above: (1) $250,000 and filing a joint return; (2) $125,000 if married filing separately; and (3) $200,000 for all others. For employers, the increased HI taxes will require greater compliance monitoring because of the introduction of graduated rates. In other words, employers will need to be prepared to closely monitor wages.


Surtax on Non-Wage Income for High-Income Individuals

For tax years commencing in 2013, the ACA introduces a surtax on certain high-income individuals, which is imposed at 3.8 percent. The base of the surtax is the lesser of either “net investment income” or the portion of a taxpayer’s modified adjusted gross receipts that exceeds the threshold amounts. The threshold amounts are $250,000 for joint returns, $125,000 for married filing separately and $200,000 for all other taxpayers.

http://www.casinoenterprisemanagement.com/articles/september-2012/fees-and-taxes-learning-aca

There is more there; the search results I am getting are aggravating. Most of them are commerical, so I apologize. The official sources are being pushed so far down in the results that sometimes they do not show up at all.

But these are things that progressives have wanted for a long time. And they were all tucked into the ACA, which is one of the many reasons that the GOP hates it so much. JMHO.

October 27, 2013

Is this email online on Sander's website? I want to post it on a board that requires a direct link.

They don't allow emails to stand as OPs.

I will link to the sign up page, but I must give a link to the text itself. I know you can't give us your email, naturally.

Thanks for the thread, the specfics quoted in the thread shows the two budgets are still very far apart.

The Koch funded obstructionism is continuing and hurting our economy and people.

October 27, 2013

Ain't it though? They need to clean out the whole house in VA!



Women in VA remember this display in the house of government there...



October 27, 2013

Congratulate Me! Got my best insurance plan ever, starting January.

First:

Already had Medicare Parts A & B.

Had no RX coverage for years, couldn't afford any.

Really committed to a set of doctors, providers, etc. Did not want to change.

Now:

I get to see all my doctors, no additional premium.

Get very low cost RX benefits, no premium.

Will get services that only Medicaid covers, which I am not eligible to get. Some of these were ones that I really needed.

There are no deductibles for almost anything.

The co-payment for my providers is $15, which is less than the amount that Medicare was not paying.

Am stuck, however with a small monthly penalty for not having prescription coverage for some years.

That penalty is no matter compared to what I'm getting. I am so relieved.

And because of the ACA, there are no limits nor are there any conditions that can be denied.

I found the people that worked on seeing that I got the right policy to be honest and concerned about my costs, and they made sure that all my questions were answered.




Obamacare In Action.

http://theobamadiary.com/2013/10/01/obamacare-in-action-3/

Thanks, Obama!




October 27, 2013

Yes, they are good little lapdogs:



Still got that Kochpuppet image?

It'll work for this guy.




October 27, 2013

There is a double meaning in this picture of a cat and a dog:



Not sure how things turn out for the dog there...

Just sayin'

October 26, 2013

'ultra-low turnout elections on issues where campaign spending is at parity'

That's why every vote matters! And every election matters!

Because the Idiocracy was voted in at the school board level, not at the federal level. Because numbers do matter in terms of representation in state and federal leges.

We need to GOTV and not listen to those who try to make us ashamed of the Democratic Party by denigrating it and never offering solutions, other than criticism, or saying to stand aside and not vote, which leaves the government of all of us in the hands of the Tea Party.

California innovated its districting by using a computer model rather a political one by the party in power. This is just for all viewpoints, and should be adopted by other states. CA is leading the way on many things:



Bill Maher New Rules - California is leading by example

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