Heather Covert McCarthy first wrote about this on her facebook page--I told her I would blog about it--You all really should know!!
Well, the politicians in Washington, DC have finally come to an agreement—for now anyway-thus our country will not go into default-the cliff has been averted-until they have to finally get around to passing bills to allow the federal gov’t to actually spend money (they have enough for three months)and Wall Street seems happy-at least for the time being.
However—the rest of us are in for a BIG shock—as of Jan 1, 2013 you will see less in your paycheck—that’s right—less not more-2 % to be exact. 2 Years ago a temporary law was passed that had your employers paying 6.2% of the Social Security Tax-we only had to kick in 4.2%. Guess what—WE are now back up to 6.2%.
If that is not bad enough there are 5 new taxes that will help fund Obamacare—they will be in the form of excise taxes (sales taxes). As we all know from bitter experience whenever a large company has to pay sales tax—they do not pay it—we do!! This is how it happens—The Medical Equipment industry is one of those with a new excise tax –because they sell wholesale to their customers they do not have to pay this tax—their customers do—once they have sold the item(s) to retailers. The retailers charge US the extra tax then submit it to the government quarterly. This tax alone could affect how much WE pay for motorized wheelchairs, hospital and doctor services etc. Now not all the doctors are going to raise their fees-at least I hope not!
Of course I am sure that the “fight” over funding Obamacare is not over----I really wish all those politicians would GROW UP—no matter their party affiliation!!
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