New Tax Increase Goes Into Effect Jan 1

But, but, but Obama said no new taxes on those earning less than $250,000? Mus just get ready, more of these taxes are on the horizon if he is re-elected and the ACA is not substantially amended or killed.
 
There are changes to the tax code every year. You could easily make the argument that any of those changes that negatively affect you are increasing your taxes. But that is not true. I have long been a proponent of simplifying the tax code, lowering the tax brackets, removing all of the deductions and credits and everybody just pay their %, and remove refundable credits.

As far as this goes it will negativey affect me as well. I have taken out 4k each year for the past few years, which is the max my company allows me to contribute to my FSA. When temporary payroll tax cuts expire we may also see less on my takehome so that sucks too.

It is amazing how much my family spends on healthcare every year. When you add in the out of pocket costs, the premiums, the amt my company pays in premiums, it is just staggering. This is why this system is broken and needs to be fixed. Hospital charges are just outrageous these days and nobody seems to mention this when they are having healthcare talks. They often just talk about prescription costs but it is really hospital and other physician based costs which are making healthcare unaffordable for more and more Americans every year. Good news on the Rx front is the average script price is going down right now due to the continued introduction of lower cost generic options.
 
Obama care was supposed to reduce the cost of healthcare; not true. My taxes are going up and I don't make 250k. How can you lib's keep going along with the lies. Just admit taxes are going up for the middle class. Pull your head out.
 
you are off topic. removing or lowering a deduction is not raising your taxes. you can lstill look for other deductions. and this particular change does not affect everyone...just those who want to put more than 2500 in their FSA.
 
All I know is I pay more. It was supposed to make healthcare cheaper. Not for me and not for business.
 
If my effective tax rate is 20%, the $2,500 reduction in contribution equates to a $500 reduction in "salary." Exactly where does that $500 go?

Anybody with any reasonable sense is already taking every possible deduction. Most pharmacists are horrible at business and economics, but thankfully good at the clinical side of their daily responsibilities.
 
You will see more and more companies drop generics that they cannot make money on. Once competitors leave the market, prices will increase as one or two companies become monopolies for key generic drugs.

Next, the increased introduction of high cost genomic drugs will cause overall pharmaceutical costs to increase substantially in my opinion.
 
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