CBO to employers: Obamacare has $4B more in taxes than expected

rollinbud

rollinbud

Active Member
Business owners will pay $4 billion more in taxes under President Obama’s Affordable Care Act (ACA) than the Congressional Budget Office had previously expected.
“According to the updated estimates, the amount of deficit reduction from penalty payments and other effects on tax revenues under the ACA will be $5 billion more than previously estimated,” the CBO reported today. “That change primarily effects a $4 billion increase in collections from such payments by employers, a $1 billion increase in such payments by individuals, and an increase of less than $500 million in tax revenues stemming from a small reduction in employment-based coverage, which will lead to a larger share of total compensation taking the form of taxable wages and salaries and a smaller share taking the form of nontaxable health benefits.”
In short, CBO revised the Obamacare tax burden upward by $4 billion for businesses and $1 billion to $1.5 billion for individual workers.
CBO couldn’t help but bump into Chief Justice John Roberts controversial decision uphold the individual mandate as a constitutional exercise of Congress’s taxing power. The report dubs the individual mandate a “penalty tax” — that is, “a penalty paid to the Treasury by taxpayers when they file their tax returns and enforced by the Internal Revenue Service.”

http://washingtonexaminer.com/cbo-to-employers-obamacare-has-4b-more-in-taxes-than-expected/article/2503013


time for 0bama to go....
 
N

NoDrama

Well-Known Member
You mean to tell me the Congressional Budget Office got an estimate wrong, AGAIN???

HOLY FUCKING SHIT, SAY IT ISN'T SO!!!
 
nontheist

nontheist

Well-Known Member
They knew the numbers were off before they even voted on the bill, debates with republicans on the bill (financially)can be found on youtube but they just steamrolled it through anyway.
 
canndo

canndo

Well-Known Member
NoDrama said:
You mean to tell me the Congressional Budget Office got an estimate wrong, AGAIN???

HOLY FUCKING SHIT, SAY IT ISN'T SO!!!
Click to expand...

The strangest thing about the CBO! Whenever they estimate that taxes or costs will be low, they are wrong but whenever they estimate costs or taxes will be high, they are always accurate.
 
MuyLocoNC

MuyLocoNC

Well-Known Member
canndo said:
The strangest thing about the CBO! Whenever they estimate that taxes or costs will be low, they are wrong but whenever they estimate costs or taxes will be high, they are always accurate.
Click to expand...
Maybe because these programs ALWAYS end up costing double, triple, 10, 50 times more than the Progressives on both sides of the aisle say they will. It ain't strange, it's the reality that's flapping and squawking around in our faces. Unfortunately, a great many of our fellow citizens have the ability to disregard the obvious.
 
M B P

M B P

Active Member
here's part of the article I just read...

"Obamacare will cost less… The new CBO scoring shows that the net cost of Obamacare will be $84 billion less over the next 10 years than predicted in its last analysis in March 2012. Spending on the Medicaid and the Children’s Health Insurance Program expansion will fall by $289 billion, while increased spending on the exchanges to cover some of those who will no longer qualify for Medicaid will cost $210 billion."

furthermore... "CBO says that the house repeal bill would increase the deficit by $109 billion through 2022."

The republican plan to repeal would add 109 billion to the deficit over the next 10 years. Sticking with the president's plan would save 84 billion over the next 10 years. That was what the original CBO report said.
 
canndo

canndo

Well-Known Member
MuyLocoNC said:
Maybe because these programs ALWAYS end up costing double, triple, 10, 50 times more than the Progressives on both sides of the aisle say they will. It ain't strange, it's the reality that's flapping and squawking around in our faces. Unfortunately, a great many of our fellow citizens have the ability to disregard the obvious.
Click to expand...

I have found that little of what people consider to be obvious really is.
 
ginwilly

ginwilly

Well-Known Member
canndo said:
The strangest thing about the CBO! Whenever they estimate that taxes or costs will be low, they are wrong but whenever they estimate costs or taxes will be high, they are always accurate.
Click to expand...
I guess you are referring to the CBO estimates that the Bush tax cuts would reduce revenues by 100s of billions if enacted and the results were an Increase in hundreds of billions instead.

The CBO has said they scored the bill as written, and as written they used 4.0 GDP growth based on the silly projections by the dems of the stimulus result. If debated today there is no way that poorly written bill gets passed.
 
MuyLocoNC

MuyLocoNC

Well-Known Member
canndo said:
I have found that little of what people consider to be obvious really is.
Click to expand...
Fair enough. However, I would say that a $16 trillion dollar debt, an annual $1.4 trillion deficit and $120 trillion in unfunded liabilities is cause for concern. Some "experts" use the term, recipe for disaster. I find myself leaning in the direction of their analysis.
 
ginwilly

ginwilly

Well-Known Member
MuyLocoNC said:
Fair enough. However, I would say that a $16 trillion dollar debt, an annual $1.4 trillion deficit and $120 trillion in unfunded liabilities is cause for concern. Some "experts" use the term, recipe for disaster. I find myself leaning in the direction of their analysis.
Click to expand...
if deficits don't matter why bother collecting taxes at all?
 
I

InCognition

Active Member
This country from a financial standpoint, is essentially comparable to that of an ex-con man in a CFO position within a Forbes 500 company, that has a record of, embezzlement, fraud, wire-fraud, money-laundering, conspiracy to commit fraud, tax-evasion, theft of public funds, conning, and extortion. Not only is the financial future of that company not going to work, but it's absolute insanity.

To actually think another government idea will work when it regards the expenditure of money?... Bat-shit insane. You don't need to look to far to get the big picture... nearly every, large financial decision made by the government is fundamentally broken, and that's without accounting the national debt into the equation, though many of these "decisions" attribute to that debt.

The fact that the government is not even fully aware of the financial repercussions regarding the largest health-care bill in the world, speaks for itself. It's just more of the same-old irresponsible conduct.

Icing-on-the-cake really. I say pile it on hard, and pile it on fast. I would prefer the shit comes falling down sooner and harder, because I would rather have it quickly done with now, than slower and more painfully later. Unfortunately the government will keep trying to float this unsustainable shit-fest, and it will make for one very hard fall, or a very long & drawn out torture.
 
canndo

canndo

Well-Known Member
MuyLocoNC said:
Fair enough. However, I would say that a $16 trillion dollar debt, an annual $1.4 trillion deficit and $120 trillion in unfunded liabilities is cause for concern. Some "experts" use the term, recipe for disaster. I find myself leaning in the direction of their analysis.
Click to expand...

Yes, there is a problem. Strangely, when some of us were bringing that same problem up when Bush opted to give the American people back their hard earned money - ignoring the fact that although it was indeed our money, it is also, indeed, our debt, I didn't see the right raising any debt alerts then.

Now, I didn't see them complaining about trillion dollar wars either. To this day I see them advancing the notion that fairness to the rich is more important that doing all we can to reduce our debt. It is because of these things that I distrust the motives of the right when they talk about our debt, as that debt it only a danger if we don't trim entitlements, otherwise, the right doesn't seem to much care about it.
 
Dr Kynes

Dr Kynes

Well-Known Member
M B P said:
here's part of the article I just read...

"Obamacare will cost less… The new CBO scoring shows that the net cost of Obamacare will be $84 billion less over the next 10 years than predicted in its last analysis in March 2012. Spending on the Medicaid and the Children’s Health Insurance Program expansion will fall by $289 billion, while increased spending on the exchanges to cover some of those who will no longer qualify for Medicaid will cost $210 billion."

furthermore... "CBO says that the house repeal bill would increase the deficit by $109 billion through 2022."
Click to expand...

and yet...

rollinbud said:
Business owners will pay $4 billion more in taxes under President Obama’s Affordable Care Act (ACA) than the Congressional Budget Office had previously expected.
“According to the updated estimates, the amount of deficit reduction from penalty payments and other effects on tax revenues under the ACA will be $5 billion more than previously estimated,” the CBO reported today. “That change primarily effects a $4 billion increase in collections from such payments by employers, a $1 billion increase in such payments by individuals, and an increase of less than $500 million in tax revenues stemming from a small reduction in employment-based coverage, which will lead to a larger share of total compensation taking the form of taxable wages and salaries and a smaller share taking the form of nontaxable health benefits.”
In short, CBO revised the Obamacare tax burden upward by $4 billion for businesses and $1 billion to $1.5 billion for individual workers.
CBO couldn’t help but bump into Chief Justice John Roberts controversial decision uphold the individual mandate as a constitutional exercise of Congress’s taxing power. The report dubs the individual mandate a “penalty tax” — that is, “a penalty paid to the Treasury by taxpayers when they file their tax returns and enforced by the Internal Revenue Service.”

http://washingtonexaminer.com/cbo-to-employers-obamacare-has-4b-more-in-taxes-than-expected/article/2503013
Click to expand...
so lets see, 4 billion in additional taxes, and magically obama care will save 89 billion dollars, so that would be a profit of 93 billion dollars!! amazing!! and for his next trick hes gonna pull a rabbit out of his hat.

dont bother defending this idiotic shell game. the fact is, obamacare is increasing taxes, increasing government spending, and increasing the deficit AND the debt. basically the only winners are the insurance companies and their lobbyists. nobody knows how long, how deeply or how vigorously we the people will be fucked in the ass by obamacare, but we do know one thing. we will not be given cab fare home. we get the Walk of Shame.
 
I

InCognition

Active Member
Dr Kynes said:
nobody knows how long, how deeply or how vigorously we the people will be fucked in the ass by obamacare, but we do know one thing. we will not be given cab fare home. we get the Walk of Shame.
Click to expand...
Medicare actually funds taxi rides home, for those on medicare who wish to receive a taxi ride after their services are completed.

In comparison it wouldn't surprise me to see these same idiots still getting free taxi rides home, with the "updated" health-care system.

No walks of shame, just free rides off the backs of others. Great isn't it?
 
I

InCognition

Active Member
canndo said:
Yes, there is a problem. Strangely, when some of us were bringing that same problem up when Bush opted to give the American people back their hard earned money - ignoring the fact that although it was indeed our money, it is also, indeed, our debt, I didn't see the right raising any debt alerts then.

Now, I didn't see them complaining about trillion dollar wars either. To this day I see them advancing the notion that fairness to the rich is more important that doing all we can to reduce our debt. It is because of these things that I distrust the motives of the right when they talk about our debt, as that debt it only a danger if we don't trim entitlements, otherwise, the right doesn't seem to much care about it.
Click to expand...
Don't worry about it, we won't fix our debt. There is absolutely no chance a majority of this country will pay tens of thousands of dollars more in taxes, throughout their life, just to clear the debt issue. Corporations surely won't do it either. If they did, well the cost of their products would be astronomical.

Don't worry about entitlements either, we won't fix those either. Only once shit get's really serious, will we think about stopping the atrocity of entitlement programs.

The US dollar is simply the largest pump and dump scheme in history. The only way this government will correct it's debt, is via defaulting and implementing a new currency, thus devaluing the current US dollar to $0.00. Either that or the government will resort to extreme levels of inflation to pay the debt off more effectively. Though I don't believe hyperinflation would occur due to government manipulation, it's one of those things that is difficult to predict, and impossible to control once it starts.

Not only would a government default or extreme inflation affect this country in regards to robbing it's people, but it's essentially a robbery of other countries who's people produced assets for this country as well. Either way, a new currency on the premise that the current US dollar is worthless, or inflation... both are a form of theft. Hence the US dollar is the largest pump and dump scheme to have ever existed.

Beyond that the US will keep engaging in warfare for absolutely no reason other than private interests. Let's just see what happens in Iran... it will be the same old story.

The US debt is just too large to be corrected, let alone in an effective/responsible manner. I and many others surely won't be paying for the ponzi-schemist's assets acquired through fraud/deceit/corruption, via more tax implements and higher tax rates. It will get to a point where people just simply can't pay the taxes and live at the same time.
 
Dr Kynes

Dr Kynes

Well-Known Member
InCognition said:
Medicare actually funds taxi rides home, for those on medicare who wish to receive a taxi ride after their services are completed.

In comparison it wouldn't surprise me to see these same idiots still getting free taxi rides home, with the "updated" health-care system.

No walks of shame, just free rides off the backs of others. Great isn't it?
Click to expand...
will they help me wipe off my smeared lipstick, turn my panties right side out, and give me an icepack for my prolapsed anus too?

since we have to pay for that as well its really more like obamacare medicare medicaid and social security are running a train on us. maybe if we are lucky obamacare will go last, so we are already loosened up and well lubed with the semen of our other customers. i hear obamacare's deficits and debt are hung like a pony. the CBO saays this shit is gonna hurt. ill try to bear down. maybe that will help.
 
canndo

canndo

Well-Known Member
InCognition said:
Don't worry about it, we won't fix our debt. There is absolutely no chance a majority of this country will pay tens of thousands of dollars more in taxes, throughout their life, just to clear the debt issue. Corporations surely won't do it either. If they did, well the cost of their products would be astronomical.

Don't worry about entitlements either, we won't fix those either. Only once shit get's really serious, will we think about stopping the atrocity of entitlement programs.

The US dollar is simply the largest pump and dump scheme in history. The only way this government will correct it's debt, is via defaulting and implementing a new currency, thus devaluing the current US dollar to $0.00. Either that or the government will resort to extreme levels of inflation to pay the debt off more effectively. Though I don't believe hyperinflation would occur due to government manipulation, it's one of those things that is difficult to predict, and impossible to control once it starts.

Not only would a government default or extreme inflation affect this country in regards to robbing it's people, but it's essentially a robbery of other countries who's people produced assets for this country as well. Either way, a new currency on the premise that the current US dollar is worthless, or inflation... both are a form of theft. Hence the US dollar is the largest pump and dump scheme to have ever existed.

Beyond that the US will keep engaging in warfare for absolutely no reason other than private interests. Let's just see what happens in Iran... it will be the same old story.

The US debt is just too large to be corrected, let alone in an effective/responsible manner. I and many others surely won't be paying for the ponzi-schemist's assets acquired through fraud/deceit/corruption, via more tax implements and higher tax rates. It will get to a point where people just simply can't pay the taxes and live at the same time.
Click to expand...

I'll ask again, where were all these doom and gloom debt folk during the Bush administration? or was that level of debt ok?
 
ginwilly

ginwilly

Well-Known Member
canndo said:
I'll ask again, where were all these doom and gloom debt folk during the Bush administration? or was that level of debt ok?
Click to expand...
I think the doom and gloomers were even pissed over Reagan's star wars. Austrian economics is non-partisan. It's the Krugmanites that only screamed during Bush's wars but are suspiciously quiet during Obama's.
 
nontheist

nontheist

Well-Known Member
Man is it in the liberal manual that "When you cannot make a point, or your point has been proven retarded please revert back to Bush?"
 
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