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Author: wolsey1 Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 134229  
Subject: Re: I'm confused. Date: 10/6/2012 10:56 PM
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The increased taxes you pay next year are all Obama's doing and not Romney's.

Yes, the main ones are an extra 0.9% Medicare tax and a 3.8% investment income tax.


Romney promises to adjust to tax code. The net of the adjustment will approximately be zero.

I've read his website backwards and forwards, and I think it's doubtful the net effect will be zero. I think there will be an increased burden on lower income households, and therefore no significant changes will get passed by Congress.


Now you are claiming that because you personally might pay more in taxes, that Romney's plan is a "tax increase". Yet out of the other side of your mouth you claim Obama isn't raising taxes.

Now I see what you're not understanding about my comments.

My personal tax liability won't dictate whom I vote for, so there's that.

There are tax increases under Obama's policies, and I've never denied or otherwise mentioned it.

Romney has said he won't raise taxes on middle income households, so I'll take him at his word for it; given the lack of specifics about which deductions he'd disallow, his number might not work out such that nothing gets changed (ie, as one of his economic advisors insists, they'll not push for changes if the numbers don't work out). Or, Congress may decline to enact Romney's suggested changes, in which case nothing gets changed.


If you currently have a high marginal rate

Honestly I don't really focus on top marginal rates. I care more about my effective federal income tax rate, which is always usually below 20% based on both AGI and taxable income.


Check how such plans affected the medical profession in Massachusetts and Washington. Increased wait times, decreased quality of care, increased cost of insurance, decreased pay to service providers...

The larger issue is about getting more people with access to health care. And I don't mean just go to the ER for your primary care, as Romney thinks is acceptable.

Take a person who didn't have coverage, but now he does, and he'll gladly wait to be seen. That's precisely what I hear from them.

No doubt everyone will have to know that there will be a period of adjustment, maybe even 3-5 years. More docs will be needed, older solo practice and small groups might not make it if they're unwilling to adapt as systems of reimbursement will change from 'bill as much as you can' to outcomes-based performance measures. But we know there can be a system in which most folks have access to health care...most other countries do it, and some do it very well.
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