Obamacare Tax on the So-called Affluent

obamataxI’m coming to you from a small business owner’s perspective.  Small business owners are looking for every manner to save money and still grow their businesses.  The last thing they need is to pay more taxes.

If you are a small business owner who has worked really hard to get to a point you are earning a decent salary, approaching retirement,  saving some money, investing it in financial instruments, that earn dividends and interest, it is disappointing to learn you are going to be paying more in income taxes.

Now you’re paying for Obamacare with taxes on income you have already earned on investments you have already made with hard earned dollars.

“Affluent investors who ignore this tax will be in for a total shock next April 15,” says David Lifson, a certified public accountant specializing in tax at Crowe Horwath in New York.  Not so affluent investors that pay individual income taxes on business income are going to feel the shock, too.

According to the Wall Street Journal such income is typically not subject to withholding, and people won’t be factoring it into their estimated taxes.  The tax, which took effect Jan. 1, applies to the “net investment income” of married joint filers who have more than $250,000 of income (or $200,000 for singles). Only investment income—such as dividends, interest and capital gains—above the thresholds is taxed. The rate is a flat 3.8% in addition to other taxes owed.

I know many of the so called  “affluent” are not inclined to be politically active, but read Laura Saunders: Are You Ready for the New Investment Tax?.  This should be a reason for you to pick up the phone and call your congressmen and senators to repeal this tax.  If this is pocket change for you, if so, maybe you should think about your kids?

I won’t argue the one benefit to Obamacare that makes sense, is forcing insurance companies to cover pre-existing conditions, regardless of the cost (to them).

Insurance companies need to start policing the costs they can control in their own backyard, for example, Big Pharma and not pile those costs on the backs of their customers.

I say that, because insurance companies have been skating on this issue for far too long.  If the insurance companies won’t step up to the plate, this could still could get done without ACA, a.k.a. Obamacare.  We don’t need Obamacare to care for people with pre-existing conditions.

To pay for healthcare coverage for people with pre-existing condition, you reduce costs.  To reduce costs you increase competition.  To increase competition, you deregulate and allow competition between insurers across state lines.

You also increase the incentive for the consumer (patient) to shop for the very best healthcare at the very best price.arrow thru the head

I pay for my employee’s health and dental benefits up to the monthly H.S.A premium. If they select a more expensive plan they pay the difference.  I have physicians who have discounted procedures 25% because they know I’m paying for their services out of my own pocket (at least until I reach the out of pocket maximum).

The emphasis at our company is to be healthy.  We have our own gym.  We have a cycling team we formed to fight MS.

If an individual is making decisions on their own behalf with regard to their health and their health care costs, the cost of healthcare will truly become more affordable.

The answer to rising prices and declining benefits is to increase competition in the health insurance market.  Encourage, not put limits on Health Savings Accounts H.S.A.’s as the new Affordable Care Act does.  You don’t decrease costs through big government and more regulation.

Here’s what the Democrats are saying about Obamacare.  Montana Sen. Max Baucus, a Democrat, called it a “train wreck.” A Democratic colleague, West Virginia’s Sen. Jay Rockefeller, described the massive Affordable Care Act as “beyond comprehension.”  Henry Chao, the government’s chief technical officer in charge of putting in place the insurance exchanges mandated by the law, was quoted in the Congressional Quarterly as saying, “I’m pretty nervous . . . Let’s just make sure it’s not a third-world experience.”

Obamacare is an unmitigated disaster.   To add insult to injury, we are now on the hook to pay for what will go down in history as the next great entitlement program, the Affordable Care Act!

Christians don’t teach our children to hate. Radical Islamists do.

Children of Islam

Children of Islam

Our liberal press a.k.a. MSM are more than willing to report a story when an angry American (of course they are white extremists) push or shove an innocent Muslim in the aftermath of the Boston Marathon bombings.

I agree its wrong and two wrongs don’t make a right, but ignorance and prejudice are wrong, too. The media bias is Beyond the Pale.

Best way to describe how the MSM tries to lead us around by the nose. The article, Why Muslims Kill by Daniel Greenwood, gets to the root cause as to why terrorists acts such as 9-11 and the Boston Marathon bombing are not going away.

Excerpt: “The better news outlets answer with convenient terms like “radicalization” or “self-radicalization” and much of the public, primed to react to meaningless political jargon as if it had meaning, will think that they understand. A radical, they know, is a bad person, except for a brief period when surfers and ninja turtles could use it and still be good people. They don’t quite know why that is, but they also don’t know why high debt is good for the economy or why Islam is a religion of peace.”

I think any attacks by American citizens is deplorable but let’s not lose sight what is happening to Christians worldwide being attacked, murdered and maimed by Muslim extremists.

Follow this link —> Islamic Terror Attacks on Christians

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The point is, where is the indignation on the part of Americans, the MSM, when countless hundreds of Christians are killed and thousands are injured every year at the hands of Islamic extremists. You have to dig to find a news story.

Angry Americans?  Christians don’t teach our children to hate. Islamists do.

Follow this link —> Children are raised to hate America

One Nation Under God, Heartfelt Messages for Bostonians

This slideshow requires JavaScript.

Our prayers go out to and how you can help the victims of the Boston Marathon explosions, a senseless terrorist act.  Our thanks to the incredible bravery and life-saving response of local, county, and state first responders.

I’d love to post more heartfelt messages here in my gallery. Send me your favorites via Twitter @ideacapitalit thanks!

Anytown Small Business Sequestration – A Letter from the CEO

EVAN VUCCI / AP President Barack Obama during the fiscal cliff negotiations in the briefing room of the White House on Friday, Dec. 28, 2012, in Washington.

EVAN VUCCI / AP  – President Barack Obama during the fiscal cliff negotiations in the briefing room of the White House on Friday, Dec. 28, 2012, in Washington.

ANNOUNCEMENT: Due to our inability to produce a product in the past 4 years and the conjoined, unbridled spending we have undertaken, it pains us to adopt the Government’s style Sequestration, a.k.a. mandatory spending cuts, here at Anytown Small Business, Inc. 

Following the President’s example, I am voluntarily taking a 5% salary cut.  If I was making as much as our President, that would be enough to replace the windows in Building 100, thereby erasing the threat of Mud daubers terrorizing our finest.

Let me explain.  The promise of lower healthcare costs didn’t happen.

The promise of cleaner, renewable, and cheaper energy costs and fewer regulations, where everything that was beautiful, has now brought us down, didn’t happen.

Our hiring practices, spurred on by the promise of a Government backed Stimulus plan to create jobs and economic growth, didn’t happen.

We have had to hire armies of attorneys and consultants to remain in compliance of the new regulations and laws.

Each year over the past four years our healthcare costs have risen 25% or more.  As the Supreme Court has ruled, we all know now, even though the Main Stream Media (MSM) chooses to ignore, Obamacare is a tax!  Now on top of the cost of healthcare we have an additional tax burden.  Any new tax increases the cost of doing business.

So now we have to  reduce employment to less than 50 workers.  We are playing spin the bottle every day, after work of course.  The winner gets to kiss his or her job good-bye but gets to keep the bottle.

We’ve hired the people the Government wanted us to hire.  If you were down on your luck, if you had been laid off or fired somewhere else, if you had remained unemployed past the limit of your unemployment benefits, and you have been kicked to the curb by the government, you were on our radar.  Why not?  There were thousands of reasons to hire you.  Government incentives.  Government dollars.

Those of you who turned our job offers down and preferred to live on government entitlements, it seems like you’re working harder not to work.  Too often we have seen your job inquiries were bogus.  Too bad there were no frequent flyer points from Craig’s List for answering either your own phony ads or ads for which you need not apply, because you were not remotely qualified.

At Anytown, you would have come to the front of the line.  The less qualified the better.  Our local, county, state and federal government want you to work for us and they want to provide Anytown, thousands of dollars in incentives to hire you.

Of course, we all know, there are the many companies who take the government’s money and not only never meet quotas, meaning jobs, but basically fail, pick a Chapter 7 or 11.

Many who were hired spent their valuable time to build a truly homogeneous product.  We made every effort to provide our product in many different languages, including all of the Asian dialects, but then we realized all of our major competitors learned to publish their products in English and are our best customers, too.  As part of the Sequestration, we had to let every translator go.

This has been a tremendous benefit to our company’s bottom line, the cost cutting terminations and the fact is there that are still employees working for us that do not comprehend, read or write in English. The last thing we need is a lawsuit from the government.

Those of us who are capable of doing our  job, spend countless hours covering for our fellow employees, and the company appreciates it!   Unfortunately, we are also announcing 10%, across the board, salary cuts for all personnel, will affect each and every one of you… the same.   I thank you for your sacrifice.

Finally, we poured unconscionable sums of borrowed money into unproven technology and insolvent companies.  Our investments, while popular with the majority of our customer base, they did little to contribute to our future growth in revenues or in our company’s best interest.  

After nearly going out of business it finally dawned on us.  The top 20% of our customers were contributing 70% of our revenues.   Our General Accounting Office (GAO) said it’s time we start paying attention to our paying customers.  

Let’s hope they love golf!

Broken People by Broken Government

Unfit for Work – Yet Another Burgeoning Entitlement Program is one of the best written articles I have read it quite some time on any topic, this on the disability entitlement.  Poignant and startlingly real, sad for our citizens and disappointing for our government, who appears to be their own worst enemy.

chana_CROPPED4

Chana Joffe-Walt

The author, Chana Joffe-Walt goes on to do an interesting Washington Post interview, ‘I thought I knew what being disabled meant, and I don’t.’

She is also wrongfully criticized by , self-acclaimed Distinguished Professor, University of Illinois at Chicago, in a blog post, NPR Reporter Chana Joffe-Walt Gets Disability Wrong, who by his own admission says his argument about an aging population  “may be closer to the fact” when referring to the rise of people seeking disability benefits, as opposed to Joffe-Walt, who’s narrative supports the growth of a new entitlement program.

Davis tries to discredit Joffe-Walt because she doesn’t have Davis’s educational pedigree.  I would say he’s just a bag of hot air, who needs to spend more time outside the classroom.  He’s been schooled by a highly talented reporter and writer.

To further suffer my opinion, I know people who have suffered disabling injuries or illnesses, some who could have worked, but were wrongfully terminated.  They went on disability.  Now they make due on limited income and still find ways to contribute to society.  Maybe there should be a limited disability income program?  I hope we hear more on the subject from Joffe-Walt.

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