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Just random and occasional thought as they hit me.
There is another email making the rounds that claims that the new health reform law requires that you pay taxes on your employer-sponsored health insurance. It's not true. Politifact rates this email 'pants on fire' and Snopes also rates this 'false.'
The email says the following:
Starting in 2011--next year--the W-2 tax form sent by your employer will be increased to show the value of whatever health insurance you are provided. It doesn't matter if you're retired. Your gross income WILL go up by the amount of insurance your employer paid for. So you'll be required to pay taxes on a larger sum of money that you actually received. Take the tax form you just finished for 2009 and see what $15,000.00 or $20,000.00 additional gross income does to your tax debt. That's what you'll pay next year. For many it puts you into a much higher bracket. This is how the government is going to buy insurance for fifteen (15) percent that don't have insurance and it's only part of the tax increases, but it's not really a 'tax increase' as such, it a redefinition of your taxable income.
Politifact explains why this is not true about as well as anything I could write, including the following explanation (although Politifact does acknowledge that there is one piece of the email that is accurate):
The chain e-mail is correct that employers will be required to start listing the cost of insurance. The requirement starts for the tax year 2011, so employees will see it on the W-2s they receive in 2012.But that amount will not be taxed. Current law excludes health insurance from taxable income, and there's nothing in the health care law that changes that.
Why is this provision in the law? It is there to assist the IRS in determining who has health insurance and who does not, because when health reform is fully implemented, there will be penalties for people who do not have health insurance and increased taxes starting in 2018 for the so-called 'cadillac' plans -- plans that have a value above $10,200 for individuals and $27,500 for family policies
Requiring employers to report the value of the health insurance they provide employees is not a bad idea, by the way. Most people have little idea how much their employer contributes, because they pay only a portion of the premium -- usually around 20 to 30%. The W2 will make it clear just what the value of that insurance is to the employee.
If you want an excellent summary of the provisions of the new law, go to the Kaiser Family Foundation (no relation to Kaiser health plans) website and look at the section on 'new taxes.' As mentioned above, employer provided health insurance is NOT taxable and the law does NOT change that provision.
There are no fewer than 4,250 'hits' on Google related to the key words 'HR3590 and 2011 W 2 forms'. Most of these sites repeat the misrepresentation of this provision in exactly the same words as the original email. Few sites question the accuracy of the information and most are fairly hysterical about it. In fact, I was only able to make it through 8 pages of the Google search before I gave up on websites such as well regulated American militias, swamp bubbles, duck south, and divorce forum. So if you receive this email or hear about it -- pass along the accurate information!
"President Obama announces that the Department of Veterans Affairs, led by Secretary Shinseki, will begin making it easier for veterans with Post Traumatic Stress Disorder to receive the benefits and treatment they need.
As we commemorate the Fourth of July, one of the joys -- and there are many -- of life in these United States is that you never know what the hell we, the people, will say next.
There's the delightful teenage girl in Montclair, New Jersey, who when informed this week that the nice married couple nearby had been arrested as Russian intelligence agents, joked to The New York Times, 'They couldn't have been spies. Look what she did with the hydrangeas.'Yes, 1776, the film version of the Broadway musical comedy by Sherman Edwards and Peter Stone that turned the signing of the Declaration of Independence into a song-filled romp through eighteenth century Philadelphia. Ben Franklin, John Adams and Thomas Jefferson even dance down a staircase in Independence Hall.
You could have knocked me over with a quill when Genachowski said it. But truth be told, 1776 is a favorite of mine as well. I wouldn't rank it anywhere near such greats as Casablanca or Chinatown or The Godfather or Some Like It Hot and The Thin Man (to name but a few), but I saw the movie when it first came out in 1972, still tune it in when it pops up on cable and have even seen a couple of staged revivals of the original play, one at a dinner theater in Maryland where between scenes the actors playing delegates of the Continental Congress served up prime rib and strawberry shortcake.1776 is a reminder that the embrace of the status quo in the face of revolutionary ideas is nothing new. Nor is bloody legislative compromise or our ongoing frustration over a Congress mired in petty squabbling, unable to take action.
At the beginning of the story, John Adams sings, 'A second flood, a simple famine, plagues of locusts everywhere, or a cataclysmic earthquake, I'd accept with some despair. But no, You sent us Congress! Good God, Sir, was that fair?' Later he laments, 'I have come to the conclusion that one useless man is called a disgrace; that two are called a law firm, and that three or more become a Congress!'But the Tea Partiers and Glenn Becks of America who scorn government and who have tried turning the Founding Fathers into libertarian deities will find little comfort in 1776. As Franklin says in the film, 'We're men, no more no less, trying to get a nation started against greater odds than a more generous God would have allowed.' Rather than fall hopelessly into endless name-calling and mudslinging like today, ultimately these men engaged in forthright debate and overcame ideological differences that threatened to stop their revolution before it began. They managed to produce a nation, an experiment outlined in a Declaration of Independence that is, as the movie version's John Adams says, 'a masterful expression of the American mind.'
And they did so realizing, as a character in the film says -- quoting the words of conservative icon Edmund Burke, member of the British Parliament -- that a representative owes the people not only his industry, but his judgment, and he betrays them if he sacrifices it to their opinion.So watch the movie and see what you think (Turner Classic Movies is playing it on the Fourth of July). I'd match 1776 against The Last Airbender or that Karate Kid remake any day.
What a great contest this week! There were so many lulz to choose from, It made it really tough to pick my favorites!
Caption By: midoban
Caption By: phelan
More After The Jump…
Since I got more than ten of these, I chose the first one I received that correctly quoted from the script.
Caption By: gullenalcott
Caption By: adam lunn
Caption By: tarcas
Caption By: bikemanjoey
Seriously, there were too many good ones to pick from. Thanks for participating! See you next week for another contest!