Jo's Cafe

Happy Halloween!  Or, as the Pagan’s say, Samhain.

The biggest trick this year is the Pelosi Health Care bill … it is chocked full of rotten candies that’s for sure.   TAXES TAXES TAXES is the word of the day for this bill.  So much for Obama promising now new taxes on anyone making $250,000 or less.  YOU LIE!

From American’s for Tax Reform dug through the bill and found these:

Employer Mandate Excise Tax (Page 275): If an employer does not pay 72.5% of a single employee’s health premium, the employer must pay an excise tax equal to 8% of average wages.

Individual Mandate Surtax (Page 296): If an individual fails to obtain qualifying coverage, he must pay an income surtax equal to the lesser of 2.5% of modified adjusted gross income (MAGI) or the average premium.

Medicine Cabinet Tax (Page 324): Non-prescription medications would no longer be able to be purchased from health savings accounts (HSAs), flexible spending accounts (FSAs), or health reimbursement arrangements (HRAs). Insulin excepted.

Cap on FSAs (Page 325): FSAs would face an annual cap of $2500 (currently uncapped).

Increased Additional Tax on Non-Qualified HSA Distributions (Page 326): Non-qualified distributions from HSAs would face an additional tax of 20% (current law is 10%).

Denial of Tax Deduction for Employer Health Plans Coordinating with Medicare Part D (Page 327): This would further erode private sector participation in delivery of Medicare services.

Surtax on Individuals and Small Businesses (Page 336): Imposes an income surtax of 5.4% on MAGI over $500,000 ($1 million married filing jointly).

Excise Tax on Medical Devices (Page 339): Imposes a new excise tax on medical device manufacturers equal to 2.5% of the wholesale price. It excludes retail sales and unspecified medical devices sold to the general public.

Additional Reading:

• House Health Care Bill Includes New Taxes, Fees, Government Mandates
• Mike Pence: Reading Guide to the Pelosi Health Care Reform Bill (On Facebook)
• Pelosi Health Care Bill Blows a Kiss to Trial Lawyers

As an American I am not so shocked that Obama was given the Nobel Peace Prize without any accomplishments to his name, but that America gave him the White House based on the same credentials.    ~ Newt Gingrich

How is that Hope & Change working for you?

Trick or Treat? As far as I’m concerned, this whole damn administration is a trick –

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