Tuesday, June 22, 2010

Bush Tax Cuts = BAD! Obama Tax Hikes = GOOD! Hooray For Liberals!

A co-worker sent this to me:

)ne of the surprises we'll find come next year, is what follows - -
a little "surprise" that 99% of us had no idea was included in the
"new and improved" healthcare legislation . . . the dupes, er, dopes,
who backed this administration will be astonished!

Starting in 2011, (next year folks), your W-2 tax form sent by your
employer will be increased to show the value of whatever health
insurance you are given by the company. It does not matter if that's a
private concern or governmental body of some sort. If you're retired?
So what; your gross will go up by the amount of insurance you get.

You will be required to pay taxes on a large sum of money that you have
never seen. Take your tax form you just finished and see what $15,000
or $20,000 additional gross does to your tax debt. That's what you'll
pay next year. For many, it also puts you into a new higher bracket so
it's even worse.

This is how the government is going to buy insurance for the15% that
don't have insurance and it's only part of the tax increases.

Not believing this??? Here is a research of the summaries.....

OFFSET PROVISIONS-(sec. 9001, as modified by sec. 10901)
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 employees gross income."

Joan Pryde is the senior tax editor for the Kiplinger letters. Go to
Kiplingers and read about 13 tax changes that could affect you. Number
3 is what is above.

Sounds dandy, eh? Make more taxable income that you can never touch, and will have to pay on.

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