By: Wayne Brown
For those of you who are constantly reminded by the left that Obama is not in the business of raising taxes, you just might want to check your wallet. Just in this past filing year I noted a shift in my tax position that although I had my normal dose or higher of deductions and then some, the system, in the end, told me I was better off to take the standard deduction as opposed to itemizing my expenses. At the time, I did not give it much thought but as of late it has dawned on me that someone has been fiddling around with the tax table thresholds again. Now, mind you, this does not constitute a tax increase for Congress would have to vote on that. No, it is simply a series of simple adjustments that keeps pushing the tax thresholds upward and allows the government to keep more of the money that you have paid in from your withholding taxes.
Now, if that is not enough, grab your socks because worse things are coming from our friends in Congress. House Resolution 3590 will require your employer to list that portion of the money paid on your behalf for medical coverage for you and your family over the course of the tax year. This money will in turn be added to the “taxable gross income” on your 2011 annual W-2 Tax form. Your W-4 withholdings will not reflect this additional income thus when you get to the end of the year, you may find that you owe the government considerable more money on your tax bill than you have paid into withholding.
Well this should certainly be good news because Mr. Obama and company will have more of our money to toss into the wind. Actually, some say this is the way they intend to pay for the “free healthcare” folks who pay little or no tax will receive so that Obama and company can pay them back for voting for them. Wow! Is this not a great country when the left gains control of the purse strings?
Now how bad or good is this for our country. Well, in the first place, the good is simply just another welfare program to be paid for by the American worker and taxpayer in order to get votes for the likes of Obama and company. It certainly won’t do the economy any good because once the taxpayers are aware, they will cringe and further reduce spending to offset the added tax burden. This will send retailers further into a spiral. The fact that most taxpayers can expect a significantly reduced tax refund will also add to retailer woes. In addition, employers will pay through the nose for this step because you must remember for every dollar of FICA tax that you pay, the employer must match it. So automatically the employers cost of providing you with healthcare benefits has been increased simply by the government inserting its greedy hand into the pockets of both the employer and the employee. Keep in mind that Obama has no plan to increase taxes on anyone making less than $250,000 a year, you keep remembering that until you get your tax bill in 2011.
Below, I have inserted the text of a recent email which I received discussing HR3590. There is no reference here but I have to assume that since Congress is exempt from the public healthcare system they also will be exempt from this particular requirement in their tax reporting. These are some really wonderful people we have serving us today and they just get more wonderful all the time.
Should you want to verify this, go to http://www.thomas.gov/, enter "HR 3590" in the search box , click the Bill Number Radio Buttonand 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’ll be required to pay taxes on a larger sum of money that 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 higher bracket. This is how the government is going to buy insurance for 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. Adjust your tax withholding, or increase your savings, so that you aren't surprised and put in a jam when your federal income taxes are due on April 15, 2012.
Once you have reviewed this information, keep in mind that Obama and company are now wetting their pants to gain amnesty for up to another 20 million illegal immigrants under the comprehensive immigration reform which they are touting. All these people will quickly go into the assisted healthcare system to be sure their votes are securely locked to the left.
Legislation such as this which is carried out behind our backs and not openly discussed is the moral equivalent of holding a gun to the head of the American taxpayer to gain the revenue required to run these vote-buying social welfare programs. Legislation such as this is a constant reminder that the people we have sent to Washington and the White House have no interest on what we as a people want them to accomplish. It is also a direct indication that they are quite sure they are much smarter than we are and how easily we are manipulated as a public. By the time we find out about it, they just say, oh, I guess we forgot to mention that to you.
As long as Americans will put up with this backdoor sham that Washington is trying to hang the label of democracy on, the sooner we will all be broke and working on the communal farm. By that time, it will be much too late to do anything about it except reminisce about the great country we used to live in here in America.
We have to ask ourselves “where is the accountability in Washington?” These people are elected to carry out the “will of the people”, not operate like a bunch of rogue agents bent on stealing every thing we have worked so hard for here in America. Our economy is currently teetering on the brink of deep recession or possibly depression and we have lawmakers in Washington pulling stunts like this to raise our taxes. We need to wake up. We need to ask “Who is responsible?” and those who are need to update their resumes and start looking for a new line of work or better yet spend a little time in jail for mismanagement of public funds and programs.
© Copyright WBrown2010. All Rights Reserved.
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