Tidbits
from Frank26 and KTFA Members Late Sunday AM
08/17/2014
KTFA:
munz38 » August 17th, 2014, 10:19 am I know there are probably many people worried about how long it will take to put the necessary laws in place after the GOI is fully formed.
My opinion is that these laws (mainly the HCL) are all ready done just waiting on a new rate.
What better way to make a government look good than to see them pass laws that are beneficial to their people. Imagine what the rest of the world will say when this GOI forms a power sharing government, passes a HCL law that will benefit their people, and gives a new rate to their currency.
I believe the USA is setting Iraq up for success. We have way too much invested to have them fail now.
....
munz38 » August 17th, 2014, 10:19 am I know there are probably many people worried about how long it will take to put the necessary laws in place after the GOI is fully formed.
My opinion is that these laws (mainly the HCL) are all ready done just waiting on a new rate.
What better way to make a government look good than to see them pass laws that are beneficial to their people. Imagine what the rest of the world will say when this GOI forms a power sharing government, passes a HCL law that will benefit their people, and gives a new rate to their currency.
I believe the USA is setting Iraq up for success. We have way too much invested to have them fail now.
....
**********
Frank26: QT: How is it possible that the gullible WORLD believed ONE SMALL video of M with poor translation that he was stepping down ?
ANS: Because the media served it's purpose ......... They can tell You the TRUTH as they can hide ........ The Truth. They owe You nothing.
So most of their calculated time ......... They give You that.
**********
Aggiedad77: Precisely.......the "media" what we grew up with as the "media" is dead and has been for many years....but still people choose to believe what they read and see...because they are the ones who have become the puppets to this "media"......they must have what it provides, even when it no longer serves the purpose of portraying what is actually the truth....their only interest is that of "greed".....making money.....who cares what the truth is any more.....just put out what will sell........if the truth "isn't as it should be"......let us write our own version of it...."they" will believe whatever we put in front of them, Period.
People across the world.....it is time to wake up to reality.
Sorry for the early morning rant......Frank made me do it.
Blessings to you all Randy
************
Frank26: Got this from FB today ...... Send TY.
Here is what happened on July 1st 2014:
Top Income Tax bracket went from 35% to 39.6%
Top Income Payroll Tax went from 37.4% to 52.2%
Capital Gains Tax went from 15 % to 28%
Dividend Tax went from 15% to 39.6%
Estate Tax went from 0% to 55%
These taxes were all passed under the Affordable
Care Act, otherwise known as ObamaCare and FATCA.
All these taxes were passed with only Democrat votes.
Not one Republican voted to do these taxes
Not sure on some of it ........Run this for me for tonight ........
KTFA, Frank
*************
AJS: Frank, yesterday you posted about the coming tax increases with Ocare. I realize we don't have official word on how our currency exchange will be treated. However, in your post you mentioned the increase in capital gains tax to 40%. Can I assume that the 40% is for short term cap gains? My understanding was that this year long term cap gains was increasing from 15 to 20% plus an additional 3.8% for Ocare. And that short term cap gains was increasing from 35 to 40% and then of course the additional 3.8% for Ocare. Is that how you understand it, or am I mistaken?
************
Aggiedad77: Hello ajs.....what Frank posted was a list of taxes that were embedded in Obamacare that took affect July 1, 2014....these taxes were voted into existence in this under-handed manner solely by democrats....not one Republican voted for this, and it was buried within Obamacare in hopes that no one would notice. Randy
************
Zerb: Family…The new tax laws in The Unaffordable Care Act...do not be scared...be prepared!
there are many LEGAL ways to avoid THESE RIDICULOUS taxes...find yourself a good tax attorney ASAP...don't mention you hold currencies...just tell them that you're coming in to some family money and you need the best advice possible. All you are doing is interviewing to determine how knowledagable they are. Do not exchange before you consult...Good luck and God Bless!
***********
Aggiedad77: BRAVO zerb.....thanks for posting this....what you say makes much sense and needs to be thought about carefully before one might make mistakes that could have been avoided with a little homework and due diligence ahead of time. Randy
**********
photoman57 » August 17th, 2014, Here is a list from Americans for tax reform:
Boy oh Boy talk about keeping you broke and naked. Kind of long but worth a scan.
Full List of Obamacare Tax Hikes
Issues: Health
Full List of Obamacare Tax Hikes: Listed by Size of Tax Hike
Complied by Americans for Tax Reform
WASHINGTON, DC -- Obamacare contains 20 new or higher taxes on American families and small businesses. Arranged by their respective sizes according to CBO scores, below is the total list of all $500 billion-plus in tax hikes (over the next ten years) in Obamacare, their effective dates, and where to find them in the bill.
$123 Billion: Surtax on Investment Income (Takes effect Jan. 2013): A new, 3.8 percent surtax on investment income earned in households making at least $250,000 ($200,000 single). This would result in the following top tax rates on investment income:
*Other unearned income includes (for surtax purposes) gross income from interest, annuities, royalties, net rents, and passive income in partnerships and Subchapter-S corporations. It does not include municipal bond interest or life insurance proceeds, since those do not add to gross income. It does not include active trade or business income, fair market value sales of ownership in pass-through entities, or distributions from retirement plans. The 3.8% surtax does not apply to non-resident aliens. (Bill: Reconciliation Act; Page: 87-93)
$86 Billion: Hike in Medicare Payroll Tax (Takes effect Jan. 2013): Current law and changes:
Bill: PPACA, Reconciliation Act; Page: 2000-2003; 87-93
$65 Billion: Individual Mandate Excise Tax and Employer Mandate Tax (Both taxes take effect Jan. 2014):
Individual: Anyone not buying “qualifying” health insurance as defined by Obama-appointed HHS bureaucrats must pay an income surtax according to the higher of the following
Exemptions for religious objectors, undocumented immigrants, prisoners, those earning less than the poverty line, members of Indian tribes, and hardship cases (determined by HHS). Bill: PPACA; Page: 317-337
Employer: If an employer does not offer health coverage, and at least one employee qualifies for a health tax credit, the employer must pay an additional non-deductible tax of $2000 for all full-time employees. Applies to all employers with 50 or more employees. If any employee actually receives coverage through the exchange, the penalty on the employer for that employee rises to $3000. If the employer requires a waiting period to enroll in coverage of 30-60 days, there is a $400 tax per employee ($600 if the period is 60 days or longer). Bill: PPACA; Page: 345-346
(Combined score of individual and employer mandate tax penalty: $65 billion)
$60.1 Billion: Tax on Health Insurers (Takes effect Jan. 2014): Annual tax on the industry imposed relative to health insurance premiums collected that year. Phases in gradually until 2018. Fully-imposed on firms with $50 million in profits. Bill: PPACA; Page: 1,986-1,993
$32 Billion: Excise Tax on Comprehensive Health Insurance Plans (Takes effect Jan. 2018): Starting in 2018, new 40 percent excise tax on “Cadillac” health insurance plans ($10,200 single/$27,500 family). Higher threshold ($11,500 single/$29,450 family) for early retirees and high-risk professions. CPI +1 percentage point indexed. Bill: PPACA; Page: 1,941-1,956
$23.6 Billion: “Black liquor” tax hike (Took effect in 2010) This is a tax increase on a type of bio-fuel. Bill: Reconciliation Act; Page: 105
$22.2 Billion: Tax on Innovator Drug Companies (Took effect in 2010): $2.3 billion annual tax on the industry imposed relative to share of sales made that year. Bill: PPACA; Page: 1,971-1,980
$20 Billion: Tax on Medical Device Manufacturers (Takes effect Jan. 2013): Medical device manufacturers employ 360,000 people in 6000 plants across the country. This law imposes a new 2.3% excise tax. Exempts items retailing for <$100. Bill: PPACA; Page: 1,980-1,986
$15.2 Billion: High Medical Bills Tax (Takes effect Jan 1. 2013): Currently, those facing high medical expenses are allowed a deduction for medical expenses to the extent that those expenses exceed 7.5 percent of adjusted gross income (AGI). The new provision imposes a threshold of 10 percent of AGI. Waived for 65+ taxpayers in 2013-2016 only. Bill: PPACA; Page: 1,994-1,995
$13.2 Billion: Flexible Spending Account Cap – aka “Special Needs Kids Tax” (Takes effect Jan. 2013): Imposes cap on FSAs of $2500 (now unlimited). Indexed to inflation after 2013. There is one group of FSA owners for whom this new cap will be particularly cruel and onerous: parents of special needs children. There are thousands of families with special needs children in the United States, and many of them use FSAs to pay for special needs education. Tuition rates at one leading school that teaches special needs children in Washington, D.C. (National Child Research Center) can easily exceed $14,000 per year. Under tax rules, FSA dollars can be used to pay for this type of special needs education. Bill: PPACA; Page: 2,388-2,389
$5 Billion: Medicine Cabinet Tax (Took effect Jan. 2011): Americans no longer able to use health savings account (HSA), flexible spending account (FSA), or health reimbursement (HRA) pre-tax dollars to purchase non-prescription, over-the-counter medicines (except insulin). Bill: PPACA; Page: 1,957-1,959
$4.5 Billion: Elimination of tax deduction for employer-provided retirement Rx drug coverage in coordination with Medicare Part D (Takes effect Jan. 2013) Bill: PPACA; Page: 1,994
$4.5 Billion: Codification of the “economic substance doctrine” (Took effect in 2010): This provision allows the IRS to disallow completely-legal tax deductions and other legal tax-minimizing plans just because the IRS deems that the action lacks “substance” and is merely intended to reduce taxes owed. Bill: Reconciliation Act; Page: 108-113
$2.7 Billion: Tax on Indoor Tanning Services (Took effect July 1, 2010): New 10 percent excise tax on Americans using indoor tanning salons. Bill: PPACA; Page: 2,397-2,399
$1.4 Billion: HSA Withdrawal Tax Hike (Took effect Jan. 2011): Increases additional tax on non-medical early withdrawals from an HSA from 10 to 20 percent, disadvantaging them relative to IRAs and other tax-advantaged accounts, which remain at 10 percent. Bill: PPACA; Page: 1,959
$0.6 Billion: $500,000 Annual Executive Compensation Limit for Health Insurance Executives (Takes effect Jan. 2013): Bill: PPACA; Page: 1,995-2,000
$0.4 Billion: Blue Cross/Blue Shield Tax Hike (Took effect in 2010): The special tax deduction in current law for Blue Cross/Blue Shield companies would only be allowed if 85 percent or more of premium revenues are spent on clinical services. Bill: PPACA; Page: 2,004
$ Negligible: Excise Tax on Charitable Hospitals (Took effect in 2010): $50,000 per hospital if they fail to meet new "community health assessment needs," "financial assistance," and "billing and collection" rules set by HHS. Bill: PPACA; Page: 1,961-1,971
Frank26: QT: How is it possible that the gullible WORLD believed ONE SMALL video of M with poor translation that he was stepping down ?
ANS: Because the media served it's purpose ......... They can tell You the TRUTH as they can hide ........ The Truth. They owe You nothing.
So most of their calculated time ......... They give You that.
**********
Aggiedad77: Precisely.......the "media" what we grew up with as the "media" is dead and has been for many years....but still people choose to believe what they read and see...because they are the ones who have become the puppets to this "media"......they must have what it provides, even when it no longer serves the purpose of portraying what is actually the truth....their only interest is that of "greed".....making money.....who cares what the truth is any more.....just put out what will sell........if the truth "isn't as it should be"......let us write our own version of it...."they" will believe whatever we put in front of them, Period.
People across the world.....it is time to wake up to reality.
Sorry for the early morning rant......Frank made me do it.
Blessings to you all Randy
************
Frank26: Got this from FB today ...... Send TY.
Here is what happened on July 1st 2014:
Top Income Tax bracket went from 35% to 39.6%
Top Income Payroll Tax went from 37.4% to 52.2%
Capital Gains Tax went from 15 % to 28%
Dividend Tax went from 15% to 39.6%
Estate Tax went from 0% to 55%
These taxes were all passed under the Affordable
Care Act, otherwise known as ObamaCare and FATCA.
All these taxes were passed with only Democrat votes.
Not one Republican voted to do these taxes
Not sure on some of it ........Run this for me for tonight ........
KTFA, Frank
*************
AJS: Frank, yesterday you posted about the coming tax increases with Ocare. I realize we don't have official word on how our currency exchange will be treated. However, in your post you mentioned the increase in capital gains tax to 40%. Can I assume that the 40% is for short term cap gains? My understanding was that this year long term cap gains was increasing from 15 to 20% plus an additional 3.8% for Ocare. And that short term cap gains was increasing from 35 to 40% and then of course the additional 3.8% for Ocare. Is that how you understand it, or am I mistaken?
************
Aggiedad77: Hello ajs.....what Frank posted was a list of taxes that were embedded in Obamacare that took affect July 1, 2014....these taxes were voted into existence in this under-handed manner solely by democrats....not one Republican voted for this, and it was buried within Obamacare in hopes that no one would notice. Randy
************
Zerb: Family…The new tax laws in The Unaffordable Care Act...do not be scared...be prepared!
there are many LEGAL ways to avoid THESE RIDICULOUS taxes...find yourself a good tax attorney ASAP...don't mention you hold currencies...just tell them that you're coming in to some family money and you need the best advice possible. All you are doing is interviewing to determine how knowledagable they are. Do not exchange before you consult...Good luck and God Bless!
***********
Aggiedad77: BRAVO zerb.....thanks for posting this....what you say makes much sense and needs to be thought about carefully before one might make mistakes that could have been avoided with a little homework and due diligence ahead of time. Randy
**********
photoman57 » August 17th, 2014, Here is a list from Americans for tax reform:
Boy oh Boy talk about keeping you broke and naked. Kind of long but worth a scan.
Full List of Obamacare Tax Hikes
Issues: Health
Full List of Obamacare Tax Hikes: Listed by Size of Tax Hike
Complied by Americans for Tax Reform
WASHINGTON, DC -- Obamacare contains 20 new or higher taxes on American families and small businesses. Arranged by their respective sizes according to CBO scores, below is the total list of all $500 billion-plus in tax hikes (over the next ten years) in Obamacare, their effective dates, and where to find them in the bill.
$123 Billion: Surtax on Investment Income (Takes effect Jan. 2013): A new, 3.8 percent surtax on investment income earned in households making at least $250,000 ($200,000 single). This would result in the following top tax rates on investment income:
*Other unearned income includes (for surtax purposes) gross income from interest, annuities, royalties, net rents, and passive income in partnerships and Subchapter-S corporations. It does not include municipal bond interest or life insurance proceeds, since those do not add to gross income. It does not include active trade or business income, fair market value sales of ownership in pass-through entities, or distributions from retirement plans. The 3.8% surtax does not apply to non-resident aliens. (Bill: Reconciliation Act; Page: 87-93)
$86 Billion: Hike in Medicare Payroll Tax (Takes effect Jan. 2013): Current law and changes:
Bill: PPACA, Reconciliation Act; Page: 2000-2003; 87-93
$65 Billion: Individual Mandate Excise Tax and Employer Mandate Tax (Both taxes take effect Jan. 2014):
Individual: Anyone not buying “qualifying” health insurance as defined by Obama-appointed HHS bureaucrats must pay an income surtax according to the higher of the following
Exemptions for religious objectors, undocumented immigrants, prisoners, those earning less than the poverty line, members of Indian tribes, and hardship cases (determined by HHS). Bill: PPACA; Page: 317-337
Employer: If an employer does not offer health coverage, and at least one employee qualifies for a health tax credit, the employer must pay an additional non-deductible tax of $2000 for all full-time employees. Applies to all employers with 50 or more employees. If any employee actually receives coverage through the exchange, the penalty on the employer for that employee rises to $3000. If the employer requires a waiting period to enroll in coverage of 30-60 days, there is a $400 tax per employee ($600 if the period is 60 days or longer). Bill: PPACA; Page: 345-346
(Combined score of individual and employer mandate tax penalty: $65 billion)
$60.1 Billion: Tax on Health Insurers (Takes effect Jan. 2014): Annual tax on the industry imposed relative to health insurance premiums collected that year. Phases in gradually until 2018. Fully-imposed on firms with $50 million in profits. Bill: PPACA; Page: 1,986-1,993
$32 Billion: Excise Tax on Comprehensive Health Insurance Plans (Takes effect Jan. 2018): Starting in 2018, new 40 percent excise tax on “Cadillac” health insurance plans ($10,200 single/$27,500 family). Higher threshold ($11,500 single/$29,450 family) for early retirees and high-risk professions. CPI +1 percentage point indexed. Bill: PPACA; Page: 1,941-1,956
$23.6 Billion: “Black liquor” tax hike (Took effect in 2010) This is a tax increase on a type of bio-fuel. Bill: Reconciliation Act; Page: 105
$22.2 Billion: Tax on Innovator Drug Companies (Took effect in 2010): $2.3 billion annual tax on the industry imposed relative to share of sales made that year. Bill: PPACA; Page: 1,971-1,980
$20 Billion: Tax on Medical Device Manufacturers (Takes effect Jan. 2013): Medical device manufacturers employ 360,000 people in 6000 plants across the country. This law imposes a new 2.3% excise tax. Exempts items retailing for <$100. Bill: PPACA; Page: 1,980-1,986
$15.2 Billion: High Medical Bills Tax (Takes effect Jan 1. 2013): Currently, those facing high medical expenses are allowed a deduction for medical expenses to the extent that those expenses exceed 7.5 percent of adjusted gross income (AGI). The new provision imposes a threshold of 10 percent of AGI. Waived for 65+ taxpayers in 2013-2016 only. Bill: PPACA; Page: 1,994-1,995
$13.2 Billion: Flexible Spending Account Cap – aka “Special Needs Kids Tax” (Takes effect Jan. 2013): Imposes cap on FSAs of $2500 (now unlimited). Indexed to inflation after 2013. There is one group of FSA owners for whom this new cap will be particularly cruel and onerous: parents of special needs children. There are thousands of families with special needs children in the United States, and many of them use FSAs to pay for special needs education. Tuition rates at one leading school that teaches special needs children in Washington, D.C. (National Child Research Center) can easily exceed $14,000 per year. Under tax rules, FSA dollars can be used to pay for this type of special needs education. Bill: PPACA; Page: 2,388-2,389
$5 Billion: Medicine Cabinet Tax (Took effect Jan. 2011): Americans no longer able to use health savings account (HSA), flexible spending account (FSA), or health reimbursement (HRA) pre-tax dollars to purchase non-prescription, over-the-counter medicines (except insulin). Bill: PPACA; Page: 1,957-1,959
$4.5 Billion: Elimination of tax deduction for employer-provided retirement Rx drug coverage in coordination with Medicare Part D (Takes effect Jan. 2013) Bill: PPACA; Page: 1,994
$4.5 Billion: Codification of the “economic substance doctrine” (Took effect in 2010): This provision allows the IRS to disallow completely-legal tax deductions and other legal tax-minimizing plans just because the IRS deems that the action lacks “substance” and is merely intended to reduce taxes owed. Bill: Reconciliation Act; Page: 108-113
$2.7 Billion: Tax on Indoor Tanning Services (Took effect July 1, 2010): New 10 percent excise tax on Americans using indoor tanning salons. Bill: PPACA; Page: 2,397-2,399
$1.4 Billion: HSA Withdrawal Tax Hike (Took effect Jan. 2011): Increases additional tax on non-medical early withdrawals from an HSA from 10 to 20 percent, disadvantaging them relative to IRAs and other tax-advantaged accounts, which remain at 10 percent. Bill: PPACA; Page: 1,959
$0.6 Billion: $500,000 Annual Executive Compensation Limit for Health Insurance Executives (Takes effect Jan. 2013): Bill: PPACA; Page: 1,995-2,000
$0.4 Billion: Blue Cross/Blue Shield Tax Hike (Took effect in 2010): The special tax deduction in current law for Blue Cross/Blue Shield companies would only be allowed if 85 percent or more of premium revenues are spent on clinical services. Bill: PPACA; Page: 2,004
$ Negligible: Excise Tax on Charitable Hospitals (Took effect in 2010): $50,000 per hospital if they fail to meet new "community health assessment needs," "financial assistance," and "billing and collection" rules set by HHS. Bill: PPACA; Page: 1,961-1,971
|
$ Negligible: Employer Reporting of Insurance on W-2 (Took
effect in Jan. 2012): Preamble to taxing health benefits on individual tax
returns. Bill: PPACA; Page: 1,957
Read more: http://www.atr.org/full-list-obamacare-tax-hikes-listed-a7010#ixzz1zTXuZUYl |
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