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Old June 14th, 2012, 12:58 AM   #1
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Some people inherit their money and others make it the old fashioned way, they earn it. Regardless of how they got there, once “rich” status is obtained they discover a whole new world opens up for them to retain that status.



For one, many tax laws are written explicitly for the rich. Only those that can afford tax attorneys are in a position to take advantage of those laws. They rich can move money around by buying a goat farm or an apartment complex when it benefits them to do so. There are hundreds of special tax breaks available to them.



They can also structure their assets so a predetermined amount is kicked off on a monthly or quarterly basis that they use for living expenses. This ensures the original assets are not at risk but still generates enough on the side to live comfortably.



All of which is really not news to anyone, we all know the basics. But what many do not understand is how the fix is in to keep us regular folks from obtaining the same upper level status. Say you are a farmer about to sell several hundred acres and retire. Before you sell, the standard government assay is performed and suddenly they tell you that you’re sitting on wetlands. Seems they spotted a migrating bird stop for a drink on your pond. Now you’ve got big trouble and can’t sell your land unless you “mitigate” those newly discovered wetlands.



You have a choice of fighting the ruling in court or spending many thousands elsewhere through “mitigation”. Either way, the farmer will lose a small fortune just going through the process of selling his land. On the other hand, giant agri-business can simply write off these additional expenses or choose to sic their team of lawyers on the problem. To them it’s pocket change, just the cost of doing business. To the family farmer it cuts deep into the amount they had planned on for retirement.



Now this David vs Goliath scenario is nothing new, it’s as old as the hills. But what is relatively recent is the increasing amount of tax breaks set aside for the rich coupled with the vast increase in government regulation. Each new tax break and regulation represents a new opportunity for the rich to get richer.



Take ObamaCare for example. Companies like Wal-Mart initially howled when the legislation was first proposed. But somewhere along the way they softened their stance and even began to tout the legislation as beneficial. What is it exactly that caused them to change their viewpoint?



Once they saw the writing on the wall and knew the legislation was likely to pass they realized it was better to snuggle up to the problem rather than fight it. Being an “insider” simply had more advantages and if they were lucky they might even receive a carve-out or two. But they also remembered a lesson learned when Hilary Clinton was on the board. Big government that is heavy handed can have its advantages.



Sweeping legislation like ObamaCare comes with huge costs to the company. They will have to hire additions to their legal team and HR staff as well. Plus the cost per employee will rise dramatically. But the key is they can find a way to afford the increased costs, something their competition definitely will not be able to endure. The competition, smaller mom and pop shops and minor chains simply cannot afford the additional costs and will eventually go under. And from the viewpoint of Wal-Mart the extra costs associated from ObamaCare are in effect a set aside cost to buy out the competition.



So if you’ve ever wondered how it is the rich get richer I’ve listed a few examples above. Now take those examples times thousands of individuals plus thousands of companies with their teams of lawyers and the big picture starts to come into focus. The fix is in, the system is designed that way.
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Old June 14th, 2012, 04:51 AM   #2
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Small businesses will not go under due to Obamacare. This is a misrepresentation with an agenda behind it. What are you referring to when you say small business? It will of course be dependent on the number of employees in a company and if the company doesn't wish to offer coverage to employees, it will pay a certain amount in fees, which are actually less than what it costs to offer the coverage to employees. It should be better for them in the long run, as many small businesses now suffer with huge costs for covering their employees and that is from the Insurance companies. Health coverage shouldn't be tied to your job anyway.
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Old June 15th, 2012, 12:25 AM   #3
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A few points:



1] Even small businesses exempt from ObamaCare directly will face higher health care costs. In fact, they already pay some of the highest premiums out there even if they belong to some sort of pool. Plus, these businesses typically provide some of the least comprehensive health plans. If his health plan loses its "grandfathered" status — as most small businesses will — he and his workers will have to purchase 100-percent coverage for a long list of preventive services. So his premiums will rise more than larger employers' premiums will.



According to HHS, these added costs will likely push him to switch health plans, and he will likely switch to a plan that complies with the mandates, but places tight restrictions on accessing care.



If he offers his workers a health savings account (HSA), medical savings account (MSA), flexible spending account (FSA), or health reimbursement arrangement (HRA), its employees will lose the ability to purchase over-the-counter drugs tax-free. If they make non-medical withdrawals from their HSA or MSA, the penalty will double from 10 percent to 20 percent.



If his small business is a tanning salon, it is already paying a new 10-percent tax on its sales.



The Obama administration is quick to note that beginning in 2010, one third of small businesses may be able to get a tax credit that covers up to 35 percent of their health-benefits. But that credit is not a long-term solution to rising costs; it disappears after 6 years, and often sooner. It will also discourage hiring, because hiring too many workers will reduce or eliminate the credit.



2] No one can say for certain what new mandates may arise from ObamaCare because it’s rules are still being written. The 2,000 plus pages of the original legislation have now been supplemented by 3,000 additional pages “as determined by the Secretary”. But the Secretary is just getting started. No one knows what other goodies she has up her sleeve, but she’s writing as fast as she can.



3] Even legal experts have no idea what the original 2,000 pages of gibberish really means. Apart from a few select paragraphs, the bulk of it is intentionally written in non-sense that can mean whatever your team of lawyers decides that it means. This is of course, a huge boon for the legal constituency of the Democratic party. And guess who pays when legal costs increase?
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Old June 15th, 2012, 05:26 AM   #4
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Your points were made a while ago and have already been addressed and yet you are presenting it as if you wrote it this morning. Notice the part in your post that says, "that beginning in 2010, one third of small businesses may be able to get a tax credit that covers up to 35% of their health benefits", that was written before 2010. Care to provide the source that you copied and pasted it form?
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Old June 15th, 2012, 05:37 PM   #5
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I could never adapt to being very rich - I don't like to smoke big cigars....................however, maybe I could change.
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Old June 16th, 2012, 05:30 AM   #6
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Originally Posted by waitingtables View Post
Your points were made a while ago and have already been addressed and yet you are presenting it as if you wrote it this morning. Notice the part in your post that says, "that beginning in 2010, one third of small businesses may be able to get a tax credit that covers up to 35% of their health benefits", that was written before 2010. Care to provide the source that you copied and pasted it form?


Actually, I did copy and paste part of that post from an old file on my computer. I thought it was worth noting because we are still waiting on that “proposed” tax credit. We’re also still waiting on the revised Ponzi Scheme to pay for this abomination now that the much of the initial “funding” scheme has died a quiet death. And it’s a damn shame the CBO is shedding light on the shell game right in the middle of an election year. It has all the Obama apologists in a tizzy.



But never fear, the rich are still getting richer and that was the main point behind ObamaCare in the first place.
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Old June 16th, 2012, 05:36 AM   #7
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From The American Spectator . . .



I'm not sure that even the most glassy-eyed Obamazombie is stupid enough to give his mom an Obamacare e-card on Mother's Day, but it's clear that Obama and his minions believe such people exist. It's also obvious that the president's men think voters are clueless enough to believe the phony statistics listed on the e-card about how women have already benefited from "reform," and how these alleged goodies are somehow free of charge. And the contempt with which the Obama crew views the electorate naturally precludes any fear that some recipient of the Obamacare missive will know that the Supreme Court is about to strike down the guaranteed issue provision of the law and thus render the e-card's claims about pre-existing conditions as empty as the president's 2008 promises.



Ironically, the president's empty promises will be the undoing of the Obamacare provision that forbids discrimination pursuant to pre-existing conditions. In 2008, Obama promised not to support an individual mandate. The president's failure to keep his word, combined with the unconstitutionality of the mandate, is what landed Obamacare in the Supreme Court and forced his solicitor general to tell the justices that the guaranteed issue and community rating provisions of the law must be invalidated if the mandate is struck down. But the president's re-election team no doubt believes the voters have forgotten his brazen flip-flop on the individual mandate, just as they believe we have forgotten his various flip-flops on gay marriage.



Obama and his accomplices certainly believe the voters are too clueless to remember his promises that Obamacare would reduce health insurance premiums, or to notice that our health care costs are still increasing at twice the rate of inflation. Likewise, they believe the public is too dumb to remember the president's promise that his economic policies would prevent unemployment from reaching 8 percent, or to notice that average unemployment during his first term has exceeded 9 percent. And they obviously believe that the voters don't have enough sense to remember how badly they wanted Obama and the Democrat-controlled Congress to give up their health care obsession and focus on the most serious issue facing the country then and now.







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Old June 16th, 2012, 03:48 PM   #8
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Originally Posted by Podium Pentothal View Post
Quote:
Originally Posted by waitingtables' timestamp='1339766761' post='407889

Your points were made a while ago and have already been addressed and yet you are presenting it as if you wrote it this morning. Notice the part in your post that says, "that beginning in 2010, one third of small businesses may be able to get a tax credit that covers up to 35% of their health benefits", that was written before 2010. Care to provide the source that you copied and pasted it form?


Actually, I did copy and paste part of that post from an old file on my computer. I thought it was worth noting because we are still waiting on that “proposed” tax credit. We’re also still waiting on the revised Ponzi Scheme to pay for this abomination now that the much of the initial “funding” scheme has died a quiet death. And it’s a damn shame the CBO is shedding light on the shell game right in the middle of an election year. It has all the Obama apologists in a tizzy.



But never fear, the rich are still getting richer and that was the main point behind ObamaCare in the first place.


Yeah, if you say so. But I would still appreciate a source. An old file on your computer? Seems convenient and like a dodge to me.
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Old June 16th, 2012, 07:02 PM   #9
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I really had no intention of this topic getting hung up on ObamaCare, but since it has I have to ask.



We have 5,000 pages of gibberish and counting, the vast majority of doctors are thinking of leaving the profession, ObamaCare funding proved to be a house of cards, millions will still go uninsured, all the promises have proved false, and you’re main concern is about a file on my computer that is a few years old?
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Old June 18th, 2012, 04:55 AM   #10
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Originally Posted by Podium Pentothal View Post
I really had no intention of this topic getting hung up on ObamaCare, but since it has I have to ask.



We have 5,000 pages of gibberish and counting, the vast majority of doctors are thinking of leaving the profession, ObamaCare funding proved to be a house of cards, millions will still go uninsured, all the promises have proved false, and you’re main concern is about a file on my computer that is a few years old?


LOL! You are proving my point with the run around. Thanks. Your points about the PPACA are meaningless because you don't even have a point you can make in your own words. Even though you pretend that they are your own words. Nice.
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