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No Referendum for H.R. 3962

H.R. 3962: Affordable Health Care for America Act is repressive rather than progressive. There was no referendum to pass this 1,990 page restructuring of 15.3% of our economy. You did not vote for it. I did not vote for it. As Barney Franks said to a woman in a confrontation in a townhall meeting, "You don't have a vote."

It has little to do with making health care affordable for Americans and great deal to do with usurping personal choices by empowering the American Government. It is health care being delivered by the U.S. Postal Service and administered by the Internal Revenue Service.

Do you want your medications delivered to you the way this government misdelivers the mail of other people to you. Do you want your health care administered by the IRS under the Department of the Treasury? If you like how the IRS determines deductions and hunts down taxpayers for missing payments, you will love how they determine benefits and demand premiums.

This huge bill was not created because of a lack of ideas from Republicans in readable segments with alternative bills. It is inspite of them. The Democrats do not fight corruption. They reward it with trillions of dollars in pork. Medicare is failing, but wait until they make it look like ACORN.

Besides the connection to all of H.3932 above, there are connections for detailed summaries and a comprehensive list of tax hikes at the end.

Just to start with, review the following:

Republican Response to Democrat Health Care Bill-10/29/09



SenJohnCornyn
Sen. Cornyn's Floor Speech on the Pelosi Health Bill and its Impact on Jobs




John Boehner quoting NTUF blog on the wording of the America's Affordable Health Choices Act



Affordable Health Care for America Act Section by Section Analysis

Detailed Summary of Affordable Health Care for America Act

AMERICANS FOR TAX REFORM has checked this for new taxes and found a:

COMPREHENSIVE LIST OF ALL TAX HIKES IN HOUSE GOVERNMENT HEALTH BILL

Employer Mandate Excise Tax (Page 275): If an employer does not pay 72.5 percent of a singleemployee’s health premium (65 percent of a family employee), the employer must pay an excise tax equal to 8 percent of average wages. Small employers (measured by payroll size) have smaller payroll tax rates of 0 percent (<$500,000), 2 percent ($500,000-$585,000), 4 percent ($585,000-$670,000), and 6 percent ($670,000-$750,000).

Individual Mandate Surtax (Page 296): If an individual fails to obtain qualifying coverage, he must pay an income surtax equal to the lesser of 2.5 percent of modified adjusted gross income (MAGI) or the average premium. MAGI adds back in the foreign earned income exclusion and municipal bond interest.

Medicine Cabinet Tax (Page 324): Non-prescription medications would no longer be able to be purchased from health savings accounts (HSAs), flexible spending accounts (FSAs), or health reimbursement arrangements (HRAs). Insulin excepted.

Cap on FSAs (Page 325): FSAs would face an annual cap of $2500 (currently uncapped). Increased Additional Tax on Non-Qualified HSA Distributions (Page 326): Non-qualified distributions from HSAs would face an additional tax of 20 percent (current law is 10 percent). This disadvantages HSAs relative to other tax-free accounts (e.g. IRAs, 401(k)s, 529 plans, etc.)

Denial of Tax Deduction for Employer Health Plans Coordinating with Medicare Part D (Page 327): This would further erode private sector participation in delivery of Medicare services. Surtax on Individuals and Small Businesses (Page 336): Imposes an income surtax of 5.4 percent on MAGI over $500,000 ($1 million married filing jointly). MAGI adds back in the itemized deduction for margin loan interest. This would raise the top marginal tax rate in 2011 from 39.6 percent under current law to 45 percent—a new effective top rate.

Excise Tax on Medical Devices (Page 339): Imposes a new excise tax on medical device manufacturers equal to 2.5 percent of the wholesale price. It excludes retail sales and unspecified medical devices sold to the general public.

Corporate 1099-MISC Information Reporting (Page 344): Requires that 1099-MISC forms be issued to corporations as well as persons for trade or business payments. Current law limits to just persons for small business compliance complexity reasons. Also expands reporting to exchanges of property.

Delay in Worldwide Allocation of Interest (Page 345): Delays for nine years the worldwide allocation of interest, a corporate tax relief provision from the American Jobs Creation Act.

Jobs Creation Act Limitation on Tax Treaty Benefits for Certain Payments (Page 346): Increases taxes on U.S. employers with overseas operations looking to avoid double taxation of earnings.

Codification of the “Economic Substance Doctrine” (Page 349): Empowers the IRS to disallow a perfectly legal tax deduction or other tax relief merely because the IRS deems that the motive of the taxpayer was not primarily business-related.

Application of “More Likely Than Not” Rule (Page 357): Publicly-traded partnerships and corporations with annual gross receipts in excess of $100 million have raised standards on penalties. If there is a tax underpayment by these taxpayers, they must be able to prove that the estimated tax paid would have more likely than not been sufficient to cover final tax liability

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