Impeding changes to our Health Care system

[classicman]

It was an extremely simple yes/no question? Are they paying an additional 6% or not?

Please read what I wrote...I think its pretty simple.

Yes....6% rate on wages/salaries for all....and yes, that would mean a tax increase for those making over $100k.

Or hell, modify it, and only apply to the first $100K (as it currently the case), exempt wages between $100k - 250k, and then wages/salaries over $250K (or $400k family)..to protect the middle class.

[classicman]

Originally Posted by Redux

Yes

That is the simple answer, thank you.

So a household with two people in it making 50k each is gonna get hit with a 6% tax increase. How well received do you think that message will be?

Originally Posted by classicman

So a household with two people in it making 50k each is gonna get hit with a 6% tax increase. How well received do you think that message will be?

Huh?

Those two people making 50K each are already paying that 6%.

A household with two people making $150K each are the ones effectively paying a lower rate.... 4.5% by both not paying on their last $50k. They would see their taxes increase 1.5% by paying that 6% on the full wages.

[classicman]

I'll see your huh and raise you a WTH?

Its a simple payroll tax increase....apply the same 6% rate that to all wages/salaries....or exclude wages between $100k -250K. Its really not that hard.

If you make 100K or under, you are already paying that rate. If you are making over $100k, you are currently paying 0% payroll tax on wages over $100k.

[classicman]

Originally Posted by Redux

Its a simple payroll tax increase....

ok got that part.
OBAMA IS RAISING TAXES!!! RUN FOR THE HILLS!!!

Originally Posted by Redux

apply the same 6% rate to all wages/salaries....or exclude wages between $100k -250K.

well? which is it applied or excluded?

Originally Posted by Redux

If you make 100K or under, you are already paying that rate. If you are making over $100k, you are currently paying 0% payroll tax on wages over $100k.

uh - yeh ok. Happy Monkey always makes up lil graphs and charts to explain this stuff.

apply the same 6% rate to all wages/salaries....or exclude wages between $100k -250K.

Originally Posted by classicman

well? which is it applied or excluded?

Two variations on the same theme.

The second option would protect those middle wage earners.

The fact remains that those workers making $100K and under are paying a greater proportion of their salaries in payroll taxes than those making above $100K.

[classicman]

Based upon % or dollar amount? Sigh, still no graph.

[Clodfobble]

It's like this: each dollar is FICA-taxed at 6%, up until you hit $100,000. Each dollar you are handed after that is not taxed. So if you make $100,000 a year, you are taxed $6,000. If you make $100,001 a year, you are still taxed $6,000.

Under Redux's suggested plan, that person making $100,001 per year would now be taxed $6,000.06, an extra six cents than he was before. For someone making $150,000, they would currently be taxed $6,000, just like the guy who makes $100,000. Under Redux's suggested plan, the guy making $150K would now be taxed a total of $9,000.

[classicman]

Thanks Clod! Still, it would have been nice to have a lil graph or a chart.... some type of visual. Sheesh, with all the stimulus money redux got you'd think we were worth a couple pennies.

[Shawnee123]

I may never tire of the "Imma let you..." spinoffs!

[classicman]

Congress' chief budget officer is contradicting President Barack Obama's oft-stated claim that seniors wouldn't see their Medicare benefits cut under a health care overhaul.

The head of the nonpartisan Congressional Budget Office, Douglas Elmendorf, told senators Tuesday that seniors in Medicare's managed care plans would see reduced benefits under a bill in the Finance Committee.

The bill would cut payments to the Medicare Advantage plans by more than $100 billion over 10 years.

Elmendorf said the changes would reduce the extra benefits that would be made available to beneficiaries.

Critics say the plans are overpaid, while supporters say they work well.

Obama says cuts to Medicare providers won't reduce seniors' benefits.

[TheMercenary]

Originally Posted by classicman

"Obama says cuts to Medicare providers won't reduce seniors' benefits."

LOL

[Idemosaka]

At least now, with no public option, the tea party guys get to keep their wonderful health insurance (and provide proof of it when sending in their tax forms), and the democrats get tons of money from their corporate overlords.

Everybody wins, right?