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EmptyTimCup
Guest
Would you pay more to stick it to the Liberals and Obama ....
Would you pay more to stick it to the Liberals and Obama ....
After seeing all the BS the libs have stuffed into the bill, I'd say leave it.....
How many posters on this board pay some taxes at the highest marginal rate?
Let's see -
My premiums went way up thanks to the money-saving Obamacare...
No cost of living adjustment this year - or next....
Gas going up.....
...you think I want taxes to go up, to "stick it to the liberals"?
I think they're in deep enough. If they let the tax RATES expire, they are so toast for the next two years.
Funny thing is, if I really believed that ANYONE in Washington would spend responsibly, I'd be willing to pay more. But they have to convince me. Convince me by once, just once, show some backbone and cut spending. Because when you give them a dollar, they spend three and borrow two more.
I can't get over the idea that there are liberals who believe if Washington just had MORE money, they'd do just fine. They won't. Give them ALL your money and they'd STILL overspend it.
Interesting, Obamacare hasn't even kicked in yet so that has nothing to do with your premiums at this point. You might want to talk to your employer and ask why premiums went up. My 2011 premiums will remain the same as this year's. The employee/employer split remaind the same as well. Your employer/insurance co could've contained costs if they wanted to.
Like many small biz owners, I end up paying taxes on all company net profits through my personal income tax return; that is why the 200K threshold becomes important..very important. I'm already 'disincentivized" to push my company to make a profit....increasing the taxes I pay on the money the company earned just makes it that much worse. Its painfull to end up with a decent profit at the end of the year and then have to 'pay' myself more money in salary just to have enough to pay my income tax bill.....its a snake that is swallowing itself tail first.
Not sure what type of business you are in. In some type of businesses it would fairly easy to invest the money in business expansion that would be deductible as a business expense. However, other types of business, especially service providers are probably harder. For example if you are in retail and you have a lot of money you don't want to pay taxes on, you can expand your store. The expansion costs including the renovating, buying more inventory, and hiring more employees are all business expenses that would be deducted from gross income. Even in retail, problems arise if you maxed out the business potentially locally. For example a pet store may make a tidy prospect, but expanding it to a 100000 sq feet megacenter may not accomplish much if the current pet store already was catering to the entire market so that you can't find new customers.
On the other hand, if you are paying in the highest tax bracket you are likely doing quite well, like well over 300,000 well. Its hard to say for sure because if you are married your wife's income could take you abvoe or below the line, but for example a married couple to be in the highest tax bracket they would have to have income of $372,951+
you are likely doing quite well, like well over 300,000 well.
Most insurance premiums went up and in some localities by a lot; you are in the lucky minority apparently.
Every written justification provided for the increases that has made it to the public domain (and that is a large number of them) has listed the provisions in Obamacare that have already kicked in as at least a 'contributing factor' to requiring the increases.
What provisions do they specify?.
Impact of Health Care Reform
Provisions in the health care reform law enacted in March 2010 that are expected to contribute to higher plan costs in 2011 include the extension of adult-child coverage to age 26, the prohibition on lifetime limits on the dollar value of coverage, restrictions on annual limits, and (for non-grandfathered plans) a requirement to provide first-dollar coverage for listed preventive services (see Health Reform's Coverage Requirements Expected to Drive Premiums Higher).
Interesting, Obamacare hasn't even kicked in yet so that has nothing to do with your premiums at this point. You might want to talk to your employer and ask why premiums went up. My 2011 premiums will remain the same as this year's. The employee/employer split remaind the same as well. Your employer/insurance co could've contained costs if they wanted to.
There are literally 100s of explanations like this one floating around the webz. Old news.
I had to chuckle too; anyone with an basic economics/finance background and knowledge of the insurance companies is quite aware that executive compensation has nothing to do with costs or bottom line because the amount is lost in the noise in string of digits to the right of the decimal point. Makes a great diversionary talking point though.
Further, the profit margins that health insurance companies operate on are some of the lowest of all entities in the entire country..single digits and often less than 5%. Compare that with the double-digit profit margins reported by pharmaceutical and med equipment companies, for example. This congress has done a fantastic job of scapegoating the insurance companies, counting on the general population be as willfully ignorant as usual about the real facts of the matter. In fact...the rising costs are coming from practically everywhere else BUT the insurance companies!
The <26 coverage did go into effect and is affecting rates.
Other requirements are also in effect. It's just the coverage of the uninsured that doesn't start until later.
You know, those millions of uninsured who were so important that there wasn't time to read the bill before passing it, but they can still wait years to get coverage.
Not sure what type of business you are in. In some type of businesses it would fairly easy to invest the money in business expansion that would be deductible as a business expense. However, other types of business, especially service providers are probably harder. For example if you are in retail and you have a lot of money you don't want to pay taxes on, you can expand your store. The expansion costs including the renovating, buying more inventory, and hiring more employees are all business expenses that would be deducted from gross income. Even in retail, problems arise if you maxed out the business potentially locally. For example a pet store may make a tidy prospect, but expanding it to a 100000 sq feet megacenter may not accomplish much if the current pet store already was catering to the entire market so that you can't find new customers.
On the other hand, if you are paying in the highest tax bracket you are likely doing quite well, like well over 300,000 well. Its hard to say for sure because if you are married your wife's income could take you abvoe or below the line, but for example a married couple to be in the highest tax bracket they would have to have income of $372,951+
We already pay for the uninsured.
Another problem is that there are not enough tiers for the premium scale. Typically, it's Single, Married, Single w/kids, and Married w/kids. Four levels, that's it. There should be levels to account for number of kids. I pay the Married w/kids rate. I have two kids at home. The problem is that I pay the same premium that another person pays yet they're Married w/4kids. The premuims should recognize that all Families aren't the same and charge accordingly. That's how to recover some of the costs.
The premuims should recognize that all Families aren't the same and charge accordingly. That's how to recover some of the costs.