CBO to employers: Obamacare has $4B more in taxes than expected - Polidicks

CBO to employers: Obamacare has $4B more in taxes than expected July 24, 2012 Washington Examiner [quote]Business owners will pay $4 billion more in taxes under President Obama’s Affordable Care Act (ACA) than the Congressional Budget Office had previously expected. “According to the updated estimates, the amount of deficit reduction from penalty payments and other effects on tax revenues under the ACA will be $5 billion more than previously estimated,” the CBO reported today. “That change primarily effects a $4 billion increase in collections from such payments by employers, a $1 billion increase in such payments by individuals, and an increase of less than $500 million in tax revenues stemming from a small reduction in employment-based coverage, which will lead to a larger share of total compensation taking the form of taxable wages and salaries and a smaller share taking the form of nontaxable health benefits.” In short, CBO revised the Obamacare tax burden upward by $4 billion for businesses and $1 billion to $1.5 billion for individual workers. CBO couldn’t help but bump into Chief Justice John Roberts controversial decision uphold the individual mandate as a constitutional exercise of Congress’s taxing power. The report dubs the individual mandate a “penalty tax” — that is, “a penalty paid to the Treasury by taxpayers when they file their tax returns and enforced by the Internal Revenue Service.”[/quote] Source: [url]http://washingtonexaminer.com/cbo-to-employers-obamacare-has-4b-more-in-taxes-than-expected/article/2503013[/url]

Aaaand here comes the shitstorm.

Oh well, as long as it's a step in the right direction to socialized healthcare. Right Glaber?

You could comfortably end the bush-era tax cuts to the high income earners and leverage that to reduce its effects on businesses.

May I ask, how?

I don't care, I've got Tricare and my VA checks cover whatever taxes I may have to pay. Rate me boxes for I love cardboard.

[QUOTE=UncleJimmema;36938691]I don't care, I've got Tricare and my VA checks cover whatever taxes I may have to pay. Rate me boxes for I love cardboard.[/QUOTE] This only affects business owners it seems.

[QUOTE=Glaber;36938568]May I ask, how?[/QUOTE] Keep the tax for not having healthcare, maybe reduce it a bit, but provide a small tax cut to businesses and individuals for not having to pay this tax. Higher incentive, money is put back into economy, or you could just keep it to balance the budget a bit. Of course you don't really want an answer, do you? The words tax, healthcare and business are enough for you to form an opinion, and bullshit your way through any answer with pseudoeconomics.

Complain about large budget deficits. Complain when anything is done to pull in any extra money. Complain when anything ever happens at anytime.

[QUOTE=Devodiere;36938850] Of course you don't really want an answer, do you? The words tax, healthcare and business are enough for you to form an opinion, and bullshit your way through any answer with pseudoeconomics.[/QUOTE] Don't forget Obama. Can't have righteous indignation without that.