Fw: Fwd: FW: 2011 W-2's Worth Reading and Checking into.

----- Original Message -----
  Sent: Sunday, June 13, 2010 6:16 PM
Subject: Fwd: Fwd: FW: 2011 W-2's Worth Reading and Checking into.

Date: Sunday, June 13, 2010, 10:21 AM

-------- Original Message --------

Subject: 2011 W-2's Worth Reading and Checking into.

    Worth Reading and Checking into.

Starting in 2011 (next year folks) your W-2 tax form sent by your employer will be increased to show the value of whatever health insurance you are given by the company.  It does not matter if that's a private concern or Governmental body of some sort.  If you're retired?  So what; your gross WILL go up by the amount of insurance you get.  You will be required to pay taxes on a large sum of money that you have never seen.  Take your tax form you just finished and see what $15,000 or $20,000 additional gross does to your tax debt.  That's what you'll pay next year.  For many it also puts you into a new higher bracket so it's even worse.

This is how the government is going to buy insurance for the 15 % that don't have insurance and it's only part of the tax increases.

Not believing this I researched the summaries and here's what I'm reading:
On page 25 of 29:  TITLE IX REVENUE PROVISIONS - SUBTITLE A: REVENUE OFFSET  PROVISIONS - (sec. 9001, as modified by sec. 10901) Sec.9002. "requires employers to include in the W-2 form of each employee the aggregate cost of applicable employer sponsored group health coverage that is excludable from the employee's gross income."

Joan Pryde is the senior tax editor for the Kiplinger letters.  Go to Kiplinger's and read about 13 tax changes that could affect you.  Number 3 is what I just told you about.

Why am I sending you this?  The same reason I hope you forward this to every single person in your address book.  People have the right to know the truth because an election is coming in November and we need to vote in Conservatives that will repeal this horrid law!


SoRefined said...

Are we really at the point where people don't know what "excludable from the employee's gross income" means?

I am pretty sure the listing is informational for individuals and it's insurance companies who have to pay a tax on plans that exceed a certain amount yearly. And the tax would only be on the amount above a certain threshold, not the entire cost of the premium.

Not that the companies won't pass that cost along one way or another, but it's certainly not going to move people into a higher tax bracket. (Also, I don't think the premiums for most plans currently cost $15,000 to $20,000.)

But I wouldn't want the truth to get in the way of right wing fear mongering.

[Subtext of forward: We all know who those 15% of uninsured people are. The kind of people who don't DESERVE healthcare.]

CharlieE said...

Not true. Next...

katz said...

*Sigh* FactCheck was all over this. Yes, it's listed. No, it's not taxed. If you based your lunacy on facts, it might be taken more seriously.

Anoner said...

How can lunacy be based on fact, Katz?? Anyway, we all know that rightwingers are alergic to facts because their elitist and all...

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