JAP69's Blog

The Individual Mandate + Medicare Tax

Do the math how much you are going to pay yearly for having no insurance and how much you pay into the medicare tax.

Looks like you will be paying for uninsured children under the individual mandate too.

Total this up for your working lifetime adjusting for future tax increase and income.

Basically the government is getting a contribution from you to cover medicaid unless you are eligible or become eligible. You are paying it to the government. Right?

Nothing comes for free. Unless you have no income.

Too bad he stole 750 billion from medicare. Grandma and Grandpa will now have less care available.

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The Individual Mandate
http://www.obamacarewatch.org/primer/individual-mandate
Penalties

excerpt:
Beginning in 2014, the federal government will impose new fines on citizens and legal residents who do not obtain government-approved insurance.  Those without insurance will pay a tax that is the greater of a flat fee, or a percentage of family income. The flat fee will be phased in over several years.  In 2014, the penalty will be $95 per adult in an uninsured household, increasing to $325 in 2015, then to $695 in 2016, after which it will increase annually in line with consumer inflation.  For uninsured children, the fine will be half the amount applied to uninsured adults.  If greater, households pay 1 percent of their income in 2014, 2 percent in 2015, and 2.5 percent in 2016 and thereafter in lieu of the flat per person fee.

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Medicare Tax and the Unearned Income Medicare Contribution Tax
http://taxes.about.com/od/payroll/a/Medicare-Tax.htm

excerpt:
Additional Medicare Taxes for 2013 and Beyond
Starting in the year 2013, the Medicare tax will be expanded. The tax rate will be increased for higher-income individuals, and the income subject to the Medicare tax will be expanded to include investment income. Technically, this additional tax is called the unearned income Medicare contribution tax, and was enacted as part of the health care reform laws.

Entry #2,917

Affordable Care Act provision could spur retaliation lawsuits against employers

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Affordable Care Act provision could spur retaliation lawsuits against employers

http://www.bizjournals.com/phoenix/blog/health-care-daily/
2013/09/affordable-care-act-provision-could.html?page=all

excerpt:
This retaliation provision is included as an amendment to the Fair Labor Standards Act and will be administered by Occupational Safety and Health Administration, or OSHA.

excerpt:
The danger to the economy is that this could trigger a mountain of layoffs before the end of the year, he said.

Entry #2,915

Cruz / Lee VS Reid / Durbun

Quite a display of parliamentary proceedings that happen around 4:15 pm.

Reid left all mad.

I am going to speak to the minority leader said Reid.

Entry #2,906