The Health Care Reform "No Tax Increase" Lie

From my email a post about just one of the tax increases that Democrats have or are planning to pass into law. All that "no tax increase" talk is baloney as is the lie that no bill that increases the deficit will be tolerated. The leadership is lying. They know it and we know it, but the blatant lies just continue to be told.

2011 W-2 Tax Forms and

Obamacare

If this doesn't get to you, then check your pulse. You may be a flat line...

Should you want to verify this, go to http://www.thomas.gov/, enter "H.R. 3590" in the search box and look for "CRS Summaries." This is what you'll find.

Title IX Revenue Provisions—Subtitle A: Revenue Offset "(Sec. 9002) Requires employers to include in the W-2 form of each employee the aggregate cost of applicable employer-sponsored group health coverage that is excludable from the employee's gross income (excluding the value of contributions to flexible spending arrangements)."

Starting in 2011—next year—the W-2 tax form sent by your employer will be increased to show the value of whatever health insurance you are provided. It doesn't matter if you're retired. Your gross income WILL go up by the amount of insurance your employer paid for. So you’ will be required to pay taxes on a larger sum of money than you actually received. Take the tax form you just finished for 2009 and see what $15,000.00 or $20,000.00 additional gross income does to your tax debt. That's what you'll pay next year. For many it puts you into a much higher bracket. This is how the government is going to buy insurance for the fifteen (15) percent that don't have insurance and it's only part of the tax increases, but it's not really a "tax increase" as such, it a redefinition of your taxable income.

Also, go to Kiplinger's and read about the thirteen (13) tax changes for 2010 that could affect you.

There should be no talk of defunding legislation such as this. There has to be action to repeal this and all the other onerous legislation Congress has passed in 2009 and 2010 against the will of the people. Those in Congress that do not vote to repeal should be voted out of elected office.