Middle Class Health Care

Middle Class Health Care

Themiddleclassman

As is sit down and try to star working on my income tax preparation for last year I noticed something new on my W-2 form.  It is located in box 12b and the explanation on the back of the form is as follows “Cost of employer-sponsored health coverage (if such cost is provided by the employer).  The reporting in Box 12, using Code DD, of the cost of employer-sponsored health coverage is for your information only. The amount reported with Code DD is not taxable.”  This is an interesting little side note that I am sure came along with our Oboma Care bill and was more than likely buried in the 906 pages that make up this Act.  Looking at the statement on the back of the W-2 it clearly states that the amount reported is not taxable but the bigger question is WHEN.  When will this amount become taxable income?  

My employer has a health care program that I am able to participate in due to my full time employment with the company.  I do not consider this as compensation for working for the company but as something that my company sees as a way to keep hard working employees and entice new employees to the company .  The company is paying a percentage of the health care cost and I pay the rest.  Over the past few years my contribution amount has gone up and the services received have gone down.  I realize that my company needs to decrease their contribution each year to stay profitable and I am willing to pay the extra for the services provided.   However, at some point in time I know that the Oboma administration is going change the above code to a Taxable form of income.  And why would they do such a thing you ask.  Simple they need the cash.

We are going to bring in a lot of new people into the health care system and all of them will not be able to or required to pay for anything. For them the services that I am paying for will be free and so where will the money come from to pay off this debt.  You got it more taxes.  They will start taxing the contributions that the companies make for an employee thus raising the taxes.  And where do you think that most of this new tax base will come from?  You got it.  The hard working middle class people of the United States. 

Oboma will soon find out what many people have been saying is true.  Taxing the top earners will not pay for the debt that he has put this country into over the last 4 years. He needs to start cutting programs and let’s start with the Welfare system.