Ready to pay higher income taxes? You're going to!
2011 W-2 Tax Forms and Obamacare ---On your 2011 W-2, your employer will be required to report what they pay for your health insurance as additional gross INCOME for you. At this point, you won't be taxed but it will be listed as 'additional information'. It will NOT be taxed as 2010 income. However, depending on how mid-term elections turn out, it may very well change in 2011. If the present majority remains in power, we will most assuredly be paying higher income taxes... this is how our government plans for us to provide for those who cannot, or will not, pay for their own health care. Please contact your representative(s) and ask if they are aware of this portion of the bill. My guess is...most are not. It's cleverly hidden in HR 3590. Source: Title IX Revenue Provisions—Subtitle A.. Further reading if you're still interested: Factcheck.org. --oh one more kick in the knees: Congress is exempt from having to pay the additional income tax.
A touch about me:....Life is a hoot and worth living to the fullest. That's not to say it doesn't have its share of bumps...it certainly does, but as a counselor, I know the value of talk therapy and, as a woman, I know the value of friends. I'm a wife, a mother, a grandmother, a child of God. I have balance. I'm still young enough to have fun but old enough to not need the social pretenses that comes with the days of young wifehood. I'm free! My prayer is that my family stays healthy, I improve the world each day, and that I arrive wherever I'm going wearing shoes that match! Join me...share with me...let's have fun! Love, Sidney