It is NOT paid by telecomm companies. It is paid for with taxes levied on paying telecomm customers. The phone company collects these taxes on each bill. The phone companies are simply the administrators of the plan.
It is a tax on you, assuming you pay for for your own telecomm.
I just received my annual email from HR with details to make my 2013 enrollment regarding benefits. One thing I noticed is a new limit on the flexible health spending account. The new federal limit per the ACA is $2500. The old limit was $5000. I have more than $5000 in out of pocket expenses so I am losing a $2500 tax deduction.
That’s a $700 income tax increase at today’s marginal tax rates which of course are scheduled to go up next year.
I hope Obama’s promise not to raise my taxes a single penny is kept (for the most part) which of course would dictate that he’s not President when I start paying this increase next year.
On the other hand, I think I have read that the IRS is considering abolishing the "use it or lose it" rule for flexible spending accounts. If you already have spent $5000 that will not help you this year but maybe in later years you can roll over what you dod not spend. Plus I think the $2500 limit is subject to a cost of living adjustment year to year so maybe it will go up.
But you are right -it is effectively a tax increase for you and a revenue raiser for Obamacare. If there is any solace to be found, remember that they originally planned to abolish these accounts entirely.
And the rich can afford to pay a little more. It doesn't cut into your 2013 30 grand ectopic pussy fund does it?
-- Modified on 10/23/2012 11:51:06 PM
1) Obama signed the bill making him equally culpable.
2) I'm not anywhere near his classification of "rich",
3) and as such, Obama flat out promised not to raise my taxes "a single penny".
Like I said earlier, if they'd get spending under control I'd gladly pay more taxes.
I am eligible for free Obama condoms though.
"The idea of providing low-income individuals with subsidized phone service was originated in the Reagan administration following the break-up of AT&T in 1984. (It was expanded and formalized by the Telecommunications Act of 1996.) The program is paid for by telecommunications companies through an independent non-profit, not through tax revenue."
It should be called "Reagn" phone you moron,
Why do right wing insist on proving they are idiots every chance they get with their inability to admit facts. Rush is a lier. Hannity and Faux news lies and it has been proven many times. Yet, you numb nuts keep on quoting them.
It is NOT paid by telecomm companies. It is paid for with taxes levied on paying telecomm customers. The phone company collects these taxes on each bill. The phone companies are simply the administrators of the plan.
It is a tax on you, assuming you pay for for your own telecomm.
the top 1% pay 37% and the top 10% pay 71% of all income taxes.
Have some guts and point out the obvious, the problem is the almost 50% who pay 0 in income taxes!! How can ANY COUNTRY survive when have the people pay nothing!! Maybe its time for them to get off their asses and pitch in...
How come Mitty only paid 14%? Keep drinking the koolaid.
Rich paying the rates you are bloviating is the prices of "whopper" unleashed by Hannity and Lampoon and their ilk. Simply put, if the rich are paying these rates, they are dumb as a door nail.
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