Change! You Better Believe It!

help me out nmysys. when i went to the kiplinger website i found #3 stated

3. A requirement that businesses include the value of the health care benefits they provide to employees on W-2s, beginning with W-2s for 2011. The amount reported is not considered taxable income.

http://www.kiplinger.com/businessresour ... e-way.html

but now i am looking for the link for where i go to read what you found in your initial post. i am sure i am overlooking it. clueless. thank you.

I thought there was a thread on this already and it was beat to death. Your Health Ins will be shown only for informational purpose nothing else.

Not according to this Kiplinger Report, maybe we should compare dates of publications. Sorry, didn't know there was a previous thread.

Your Health Ins will be shown only for informational purpose nothing else.

This statement is technically wrong. While your insurance benefits are not taxable THIS YEAR - they are setting it up to be taxable in the future.

Why else would the government be collecting this information? This is the classical "frog in warm water" setup. No-one will object to providing this information since it will not be taxed this year, but with a flick of the switch, the information is all there for them to start taxing it anytime they want.

And that's a fact- jack!

A lot of this information are just guesses because Congress is too wimpy to vote down the Bush tax cuts until after the mid term elections.

I think most of the lower income tax rate increases will not pass.

They've already made it clear that they are talking about the top one or two tax rates, and it will not affect people making less than $215K (married) / $177K (single)...If it's only the top rate, it won't affect people making less than $385K.

They've already made it clear that they are talking about the top one or two tax rates, and it will not affect people making less than $215K (married) / $177K (single)...If it's only the top rate, it won't affect people making less than $385K.

Unless congress takes action soon - all those tax rates will jump up - including the lowest earners. Congress will need to pick and choose to soak the best earners while leaving the lower earners alone - but this will not happen unless they act.

I believe that the opposite is what really needs to happen, leave the highest earners alone while raising the tax rates on the lowest earners. We need to start taxing the poor people more - because so many of them contribute nothing at all in taxes. They have no dog in this fight - if they were to start paying taxes, they might start to see why raising taxes for anyone - is bad for everyone.

Top 1% pay 40.42% of all income taxes

Top 5% pay 60.63% of all income taxes

Top 10% pay 71.22% of all income taxes

Top 25% pay 86.59% of all income taxes

Top 50% pay 97.11% of all income taxes

AND.....

The Bottom 50% pay just 2.89% of all income taxes

Time for the freeloaders to pay their share!

Yes, this misinformation was already picked to death in another thread.

While the Bush tax cuts will expire across the board in 2011, the article doesn't mention that congress and the Obama administration have made it clear that they will keep the tax breaks for all but the top income earners. Now if you don't believe that, fine, but that would be a huge reversal of a major campaign promise. Regardless, we should know for sure in late October what the 2011 tax brackets will be, because that is when they are usually published. And since that is right before the elections, does anyone really think that campaign promise will be broken?

So far as medical insurance costs appearing on your W2 goes, that's because the health care bill will start taxing (I think beginning in 2018) so-called "cadillac" health coverage where the premiums are much higher than most people's premium run. So if you are in a union and get coverage for most anything with very small deductibles, then you might face a pretty big tax on your premiums. I believe the thinking behind this is that those cadillac plans tend to rise the cost of everyone's medical care because they put a load on the health care system due to people seeking care much more often because their care costs so little. Then again, the health care bill will give many more people coverage, so it seems to me the same thing will happen.