ARRA News Service
ARRA News Service facebook page  
News for social, fiscal & national security conservatives who believe in God, family & the USA. Upholding the rights granted by God & guaranteed by the U.S. Constitution, traditional family values, "republican" principles / ideals, transparent & limited government, free markets, liberty & individual freedom. All content approval rests with the ARRA News Service Editor. Opinions are those of the authors. While varied positions are reported, beliefs & principles remain fixed. No revenue is generated for this site - no paid ads accepted - no payments for articles. Fair Use doctrine is posted & used.
Editor/Founder: Bill Smith, Ph.D. [aka: OzarkGuru] - editor@arranewsservice.com (Pub. Since July, 2006)
Home Page

One of the penalties for refusing to participate in politics is that you end up being governed by your inferiors. -- Plato (429-347 BC)

Tuesday, January 08, 2013

There Are At Least 13 Tax Increases in 2013

Editor: In the past, we have shared numerous articles on tax increases that would affect the lives of Americans. Well the taxman cometh! We have passed the date for implementation - January 1, 2013. Below is a Heritage Foundation based article via one of its blogs, the Morning Bell.   Editorial Notes Added in [ ].
-------------------
Curtis Dubay, Morning Bell: New Year’s Day was tough for taxpayers. Thirteen tax increases kicked in. The deal that Congress and President Obama struck that finally — but only partially — avoided the fiscal cliff resulted in seven tax increases.

Those hikes combined with six tax increases from Obamacare that also began on New Year’s Day.

13 Tax Increases That Started January 1, 2013
 
Tax increases the fiscal cliff deal allowed:

1. Payroll tax: increase in the Social Security portion of the payroll tax from 4.2 percent to 6.2 percent for workers. This hits all Americans earning a paycheck—not just the “wealthy.” For example, The Wall Street Journal calculated that the “typical U.S. family earning $50,000 a year” will lose “an annual income boost of $1,000.”  [While this is an increase from the former day's rate, really, it is only a return to the established level of contribution to social security which Obama had pushed to be temporarily lowered to gain more votes and an attempt to stimulate the economy by ripping of the contributions to the security fund.]

2. Top marginal tax rate: increase from 35 percent to 39.6 percent for taxable incomes over $450,000 ($400,000 for single filers).

3. Phase out of personal exemptions for adjusted gross income (AGI) over $300,000 ($250,000 for single filers).  [Why should  these people be treated fairly, obviously they must make too much money  to be a reasonable human being.]

4. Phase down of itemized deductions for AGI over $300,000 ($250,000 for single filers).

5. Tax rates on investment: increase in the rate on dividends and capital gains from 15 percent to 20 percent for taxable incomes over $450,000 ($400,000 for single filers).

6. Death tax: increase in the rate (on estates larger than $5 million) from 35 percent to 40 percent.

7. Taxes on business investment: expiration of full expensing—the immediate deduction of capital purchases by businesses.  [Another penalty on small businesses which are not C-corps.  They cannot retain  a reserve of non-taxed income to make future purchases of equipment or buildings and are often denied the ability to pay on time thereby using future earnings.]

Obamacare tax increases that took effect:

8. Another investment tax increase: 3.8 percent surtax on investment income for taxpayers with taxable income exceeding $250,000 ($200,000 for singles).  [So, those who paid (invested their money) for their own future retirements now have to not only have to pay 85% on their social security because they have too much income but they also have to pay a penalty tax above the income tax on their investment income.]

9. Another payroll tax hike: 0.9 percent increase in the Hospital Insurance portion of the payroll tax for incomes over $250,000 ($200,000 for single filers).

10. Medical device tax: 2.3 percent excise tax paid by medical device manufacturers and importers on all their sales.  [Talk about stealing needed funds from Granny and GrandPa! Along with the cost  needed of medial supplies (devises), they now have to pay a penalty tax for living and not only on wheelchairs, adjustible medical beds, pacemakers, etc. but they will be pating a tax for all items labeled by DHHS as medical devises but right down to very smallest of items.  Looks like Government is unmecifully taxing the sick and the infirmed.]

11. Reducing the income tax deduction for individuals’ medical expenses[Sorry, if it costs you to much to live.  If  you have to pay all or most of your income on medical, too bad, Government wants the money.]

12. Elimination of the corporate income tax deduction for expenses related to the Medicare Part D subsidy.

13. Limitation of the corporate income tax deduction for compensation that health insurance companies pay to their executives.  [It is time for members of Congress, the President, Vice president, justices and judges and all other appointed and employed federal employees to be limited in their medical care on the same pro-rated basis as those in the private sector are limited. The only exemption are active duty and retired military who are forced to accept what ever medial services are offered.  And while were at it, let's tax Government elected and appointed officials and senior level government employees on their "platinum" benefits programs.]

Each of these 13 tax increases will slow the economy, meaning that businesses will create fewer jobs. Fewer jobs will make it even more difficult to land a job than it already is for the more than 12 million Americans looking for work. 

President Obama demanded these higher taxes. Obama’s tax increases, in Obamacare and through the fiscal cliff deal, will not curb deficits and debt, because growing spending is driving America’s budget crisis. Congress needs to immediately turn its attention to the actual cause of our deficit and debt problem: too much spending. The proper way to address this problem is through reforms to entitlement programs.

President Obama promised the American people a “balanced approach” of tax increases and spending cuts to reduce deficits and debt. He has achieved the tax increase portion of that approach. Now Congress needs to force him to follow through on the spending cuts portion.

Tags: Barack Obama, businesses, capital gains, death tax, deductions, dividends, economy, estate tax, excise tax, fiscal cliff, income tax, investment, investment income, jobs, marginal tax rate, medical device tax, Medicare Part D, Morning Bell, Obamacare, payroll tax, social security, tax hikes, tax increases, Tax Rates, taxes, taxpayers, Wall Street Journal, workers To share or post to your site, click on "Post Link". Please mention / link to the ARRA News Service. Thanks!
Posted by Bill Smith at 9:36 AM - Post Link

2 Comments:

Blogger LibertyAtStake said...

Is the picture of Team Barry yucking it up recycled from the Obamacare SCOTUS ruling ... except with the quote: "And then Roberts ruled the mandate was a tax!"

1/08/2013  
Blogger Bill Smith said...

LibertyAtStake, Thank for the comment. I got the image from another person and saved it. Not sure of the original source. A true pix of the "Tax Gang."

1/08/2013  

Post a Comment

<< Home



Don't miss anything!
Subscribe to the
ARRA News Service
It's FREE & No Ads!

You Receive One Email Each Morning
With Prior Days Articles / Toons / More


Also, Join us at:
Facebook.com/ARRANewsService


Recent Posts:
Personal Tweets by the editor:
Dr. Bill - OzarkGuru
Married 48yr #Conservative #Constitution #NRALife #GunRights #USAF 22yr #military #veteran #Christian #CCOT #ProLife #TEAParty #GOP #TCOT #SGP #schoolchoice



Republican Links (*links back)
AR Republican Assembly *
AR Republican Leg. Caucus
AR Republican Party *
AR GOP Hispanic Assembly
AR Young Republicans
Baxter Co. GOP Assembly *
Baxter County Republicans *
Benton Co. GOP Assembly *
College GOP Nat'l Comm
Garland County Republicans *
Nat'l Black Republican Assoc.
Nat'l Fed. Republican Assemblies
Natl Repub. Cong. Comm.
Natl Repub. Senate Comm.
Republican Jewish Coalition
Republican Liberty Caucus
Repub. Natl Comm (RNC)
Repub. Nat'l Hispanic Assembly
AR Repub Hispanic Assembly
Senate Repub. Caucus
US House Republicans
IRAQ Vets for Congress
Arkansas GOP

Action Links!
Arkansas State Senators
AR State Representatives
Arkansas Governor Office
Arkansas Attorney General
Bankrupting America
US House of Representatives
US Senators
Family Research Council
GrassFire
NumbersUSA
Ballotpedia
Judgepedia
Sunshine Review


Facebook Accts - Dr. Bill Smith
Fan Pages:
ARRA News Service
Arkansans Against Big Government
Alley-White Am. Legion #52
End Taxpayer Funding of NPR
Nelda Speaks for State Rep. ...
Prolife Soldiers
Project Wildfire
Republican Liberty Caucus of Arkansas
Save AR Term Limits
Sarah Palin for President 2016
Support Sarah Palin
The Gold Standard
Twin Lakes Republican Women
US Atty Gen Eric Holder Must Go
Veterans for Sarah Palin
Misc: Networked Blogs On FB:
ARRA News Service
Blogs For Borders
Conservative Voices
FairTax Nation
Greater Fitchburg For Life
Bill Smith / Ozark Guru
FB Groups:
Arkansas For Sarah Palin
Arkansas Conservative Caucus
Arkansas County Tea Party
Arkansans' Discussion Group on National Issues
Arkansas Twin Lakes Area Tea Party
Baxter County Republicans, AR
Blogs for Borders
Bradley County Republicans, AR
#CanISee
Conservative Solutions
Conservative Voices
Defend Marriage -- Arkansas
FairTax
FairTax Nation
Arkansas for FairTax
Friends of the TEA Party in Arkansas/
Let's Mine AR Lignite NOW!
Mississippi County Republican Comm, AR
Personhood Initiative
Pro-Life Rocks - Arkansas
Pro Life America 4 Sarah
Republican Network
Republican Liberty Caucus of AR
Reject the U.N.
Save the Nation

Patriots
Exchange
Links

Links to ARRA News
A Patriotic Nurse
Agora Associates
America, You Asked For It!
Americans for a Free Republic
America's Best Choice
America's Whatchtower
An Ol’ Broad’s Ramblings
ARRA Twitter
As A Matter of Fact
As The Crackerhead Crumbles
Baaad Media!
Black & Right
Blogs For Borders
Blow the Trumpet Ministry
Boot Berryism
Chicago Ray Report
Chuck Baldwin - links
Citizen Pamphleteer
Common Cents
Conservative Hideout
Conservative Observer AZ
Conservative Voices
Conway Real Deal
Defeat Obama's Agenda
Diana's Corner
eGOP News
Florida Pundit
Franklin Online Outreach
For God and Liberty
Greater Fitchburg For Life
Guns and Religion
Lasting Liberty Blog
Liberal Isn't Amy
Liberty's Lifeline
Maggie's Notebook
Marathon Pundit
Monkey in the Middle
NASA Satellites
No Runny Eggs
Okie Campaigns
Our Voices Arkansas
Patriot's Corner
ProLifeBlogs
Randy's Roundtable
Real Debate Wisconsin
Religion and Morality
Right on Issues that Matter
Right Reason
Rocking on the Right Side
Saber Point
Saline Watchdog
Secure Arkansas
Sentry Journal
Teresamerica
Stop Obama Satire & Cartoons
The Arkansas Patriot
The Audacity of Logic
The Blue Eye View
The Bobo Files
The Born Again Americans
TEA Party Cartoons
The Foxhole | Unapologetic Patriot
The Liberty Republican
The Looking Spoon
The Maritime Sentry
The O Word
The Path to Tyranny Blog
The Real Polichick
TOTUS
Twitter ARRA
Warning Signs
Women's Prayer & Action
WyBlog
---------------
Twitter Dr. Bill Smith
Twitter Arkansas GOPNetwork
Twitter Boot Berryism
Twitter Sovereignty Alliance


Other Editor Picks
American Enterprise Institute
American Family Business Institute
Americans for Limited Government
Americans for Prosperity
Americans for Tax Reform
American Security Council Fdn
AR Faith & Ethics Council
Arkansas Policy Foundation
Ayn Rand Institute
Bill of Rights Institute
Franklin Center
Campaign for Working Families
Center for Individual Freedom
Center for Just Society
Center for Freedom & Prosperity
Citizens Against Gov't Waste
Citizens in Charge Foundstion
Coalition for the Future American Worker
Concerned Veterans for America
Competitive Enterprise Institute
Curtis Coleman Institute for Constitutional Policy
Concerned Women for Am.
Declaration of Am. Renewal
Eagle Forum
FairTax
Family Research Council
Family Security Matters
Global Incident Map
Great Americans
Gold Standard 2012 Project
Gun Owners of America (GOA)
Institute For Justice
Institute for Truth in Accounting
Less Government
Media Reseach Center
National Center for Policy Analysis
National Right To Work Foundation
News Busters
Newt.org
O'Bluejacket's Patriotic Flicks
Open Secrets
Presidential Prayer Team
Renew America
Ron Paul Institute
Sam Adams Alliance
State Policy Network
Tax Foundation
Tax Policy Center
The Club for Growth
The Federalist Today
The Gold Standard Now
The Heritage Foundation
The Leadership Institute
Union Facts



Blogs 4 Palin

ARRA News Service
Frugal Café Blog Zone
House of Eratosthenes
Jefferson's Rebels
MJ Sheppard's 'A Point of View'
Motivation Truth
Motor City Times
My Two Cents Worth
National Tea Party
Palin 4 America
Palin 4 President 2016
Patrick's World USA
NJ for Sarah Palin
Roderic Deane
Sarah Palin Blog
US for Palin
Vets4Sarah.net

Blogs For Borders

Reject the United Nations

Adopt Our Troops in Prayer


Thousands of Deadly Islamic Terror Attacks Since 9/11

FairTax Nation on FaceBook
Friends of Israel
Blog Feeds
Syndicated - Get the ARRA News Service feed Syndicated!
ARRA Blog Feed

Add to Google Reader or Homepage

Add to netvibes

Subscribe in Bloglines

Add to Bitty Brouser

Add to The Free Dictionary

Add to Excite MIX

Add to Webwag

Powered by FeedBurner

Powered by Blogger

Politics Blogs
Politics blog


  • How To Exchange Links!
  • Comments by contributors or sources do not necessarily reflect the position of ARRA, its Officers, memberships or the Editors.
  • Fair Use: This site/blog may contain copyrighted material the use of which has not been specifically authorized by the copyright owner. Such material is made available to advance understanding of political, human rights, economic, democracy, and social justice issues, etc. This constitutes a 'fair use' of such copyrighted material as provided for in section Title 17 U.S.C. Section 107 of the US Copyright Law. Per said section, the material on this site/blog is distributed without profit to readers to view for the expressed purpose of viewing the included information for research, educational, or satirical purposes. Any person/entity seeking to use copyrighted material shared on this site/blog for purposes that go beyond "fair use," must obtain permission from the copyright owner.
  • © 2006 - 2013 ARRA News Service
Creative Commons License
Creative Commons Attribution Noncommercial Share Alike 3.0 Unported License.