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In reply to the discussion: We can't afford any more of Obama's Grand Bargains. [View all]ProSense
(116,464 posts)37. No, the
ACA was not a "grand bargain." No Republicans voted for the plan, which did raise taxes on high-income earners and the wealthy to help pay for the law.
Reported when the law passed in 2010:
A big chunk of the money to pay for the bill comes from lifting payroll taxes on households making more than $250,000. On average, the annual tax bill for households making more than $1 million a year will rise by $46,000 in 2013, according to the Tax Policy Center, a Washington research group. Another major piece of financing would cut Medicare subsidies for private insurers, ultimately affecting their executives and shareholders.
http://www.nytimes.com/2010/03/24/business/24leonhardt.html
http://www.nytimes.com/2010/03/24/business/24leonhardt.html
It's the law, 2013:
Net Investment Income Tax
A new Net Investment Income Tax goes into effect starting in 2013. The 3.8 percent Net Investment Income Tax applies to individuals, estates and trusts that have certain investment income above certain threshold amounts. The IRS and the Treasury Department have issued proposed regulations on the Net Investment Income Tax. Comments may be submitted electronically, by mail or hand delivered to the IRS. For additional information on the Net Investment Income Tax, see our questions and answers.
Additional Medicare Tax
A new Additional Medicare Tax goes into effect starting in 2013. The 0.9 percent Additional Medicare Tax applies to an individuals wages, Railroad Retirement Tax Act compensation, and self-employment income that exceeds a threshold amount based on the individuals filing status. The threshold amounts are $250,000 for married taxpayers who file jointly, $125,000 for married taxpayers who file separately, and $200,000 for all other taxpayers. An employer is responsible for withholding the Additional Medicare Tax from wages or compensation it pays to an employee in excess of $200,000 in a calendar year. The IRS and the Department of the Treasury have issued proposed regulations on the Additional Medicare Tax. Comments may be submitted electronically, by mail or hand delivered to the IRS. For additional information on the Additional Medicare Tax, see our questions and answers.
http://www.irs.gov/uac/Affordable-Care-Act-Tax-Provisions
A new Net Investment Income Tax goes into effect starting in 2013. The 3.8 percent Net Investment Income Tax applies to individuals, estates and trusts that have certain investment income above certain threshold amounts. The IRS and the Treasury Department have issued proposed regulations on the Net Investment Income Tax. Comments may be submitted electronically, by mail or hand delivered to the IRS. For additional information on the Net Investment Income Tax, see our questions and answers.
Additional Medicare Tax
A new Additional Medicare Tax goes into effect starting in 2013. The 0.9 percent Additional Medicare Tax applies to an individuals wages, Railroad Retirement Tax Act compensation, and self-employment income that exceeds a threshold amount based on the individuals filing status. The threshold amounts are $250,000 for married taxpayers who file jointly, $125,000 for married taxpayers who file separately, and $200,000 for all other taxpayers. An employer is responsible for withholding the Additional Medicare Tax from wages or compensation it pays to an employee in excess of $200,000 in a calendar year. The IRS and the Department of the Treasury have issued proposed regulations on the Additional Medicare Tax. Comments may be submitted electronically, by mail or hand delivered to the IRS. For additional information on the Additional Medicare Tax, see our questions and answers.
http://www.irs.gov/uac/Affordable-Care-Act-Tax-Provisions
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I think most of us remember Obama saying he had to move right for the republicans.
last1standing
Jan 2014
#38
The 'Grand Bargain' in the ACA occurred during the negotiations that took place . . .
markpkessinger
Jan 2014
#43
If you're only accepting "officially branded" grand bargains, you're right.
last1standing
Jan 2014
#59
Lol! Yes, my "bizarre hatred" of being sold out time and time again is the problem.
last1standing
Jan 2014
#64
So Bernanke's $85 BILLION per month to the bankers started under Bush?
cherokeeprogressive
Jan 2014
#69
The FED is an independent agency, so Obama again has nothing to do with it
Progressive dog
Jan 2014
#70
Sequestration. Bush tax cut extension. The permanent tax cuts. The current budget.
TheKentuckian
Jan 2014
#23
the only positive news is that the batshit crazy wing of the House republicans...
mike_c
Jan 2014
#32
We've moved from voting for the lesser of evils to the greater of incompetents.
last1standing
Jan 2014
#34
You want politics more to your liking? Then start pushing people you like into local government,
struggle4progress
Jan 2014
#46
Why do people like yourself always smugly assume no one else is politically active?
last1standing
Jan 2014
#47
It's only "purile" to those who want the center-right policies Obama's pushing.
last1standing
Jan 2014
#54
This is such a disingenuous post, coming from a "centrist" such as yourself. nt
Romulox
Jan 2014
#63
I made no claims about whether you have ever made a phone call or canvassed
struggle4progress
Jan 2014
#55
That's a very odd reaction: you say years of organizing has paid off where you live -- but then
struggle4progress
Jan 2014
#78
Um ... the Third Way folk have never been big on grassroots organizing
struggle4progress
Jan 2014
#79
Obama Grand Flaw - He Believes That Corporations Are Honest Negotiators And Worthy Stakeholders
cantbeserious
Jan 2014
#52
Well he has to represent SOMEONE, and since it isn't us it might as well be the wealthy. nt
Demo_Chris
Jan 2014
#56