https://blogs.lotterypost.com/jap69/2013/10/the-individual-mandate-medicare-tax.htm JAP69's Blog: The Individual Mandate + Medicare Tax en-us Lottery Post RSS Generator https://blogs.lotterypost.com/jap69/2013/10/the-individual-mandate-medicare-tax.htm#c116197 https://blogs.lotterypost.com/jap69/2013/10/the-individual-mandate-medicare-tax.htm#c116197 Wed, 02 Oct 2013 08:14:50 GMT rdgrnr Just as predicted by the guy who wrote it - a trainwreck.

]]> rdgrnr https://blogs.lotterypost.com/jap69/2013/10/the-individual-mandate-medicare-tax.htm#c116183 https://blogs.lotterypost.com/jap69/2013/10/the-individual-mandate-medicare-tax.htm#c116183 Wed, 02 Oct 2013 03:21:48 GMT JAP69 family of four<br />2 adults_____1,390.00<br />2 kids_______   695.00<br />total________$2,085.00

]]> JAP69 https://blogs.lotterypost.com/jap69/2013/10/the-individual-mandate-medicare-tax.htm https://blogs.lotterypost.com/jap69/2013/10/the-individual-mandate-medicare-tax.htm Wed, 02 Oct 2013 03:14:15 GMT JAP69 Do the math how much you are going to pay yearly for having no insurance and how much you pay into the medicare tax.

Looks like you will be paying for uninsured children under the individual mandate too.

Total this up for your working lifetime adjusting for future tax increase and income.

Basically the government is getting a contribution from you to cover medicaid unless you are eligible or become eligible. You are paying it to the government. Right?

Nothing comes for free. Unless you have no income.

Too bad he stole 750 billion from medicare. Grandma and Grandpa will now have less care available.

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The Individual Mandate

http://www.obamacarewatch.org/primer/individual-mandate

Penalties

excerpt:

Beginning in 2014, the federal government will impose new fines on citizens and legal residents who do not obtain government-approved insurance. Those without insurance will pay a tax that is the greater of a flat fee, or a percentage of family income. The flat fee will be phased in over several years. In 2014, the penalty will be $95 per adult in an uninsured household, increasing to $325 in 2015, then to $695 in 2016, after which it will increase annually in line with consumer inflation. For uninsured children, the fine will be half the amount applied to uninsured adults. If greater, households pay 1 percent of their income in 2014, 2 percent in 2015, and 2.5 percent in 2016 and thereafter in lieu of the flat per person fee.

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Medicare Tax and the Unearned Income Medicare Contribution Tax

http://taxes.about.com/od/payroll/a/Medicare-Tax.htm

excerpt:

Additional Medicare Taxes for 2013 and Beyond

Starting in the year 2013, the Medicare tax will be expanded. The tax rate will be increased for higher-income individuals, and the income subject to the Medicare tax will be expanded to include investment income. Technically, this additional tax is called the unearned income Medicare contribution tax, and was enacted as part of the health care reform laws.

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