Today is the day… One that will probably match the revolution in health care that arose almost 50 years ago. That was Medicare. This one, which will be revised as often and for the same reasons that we refined Medicare- is popularly (or is that infamously) known as Obamacare (PPACA is the legal abbreaviation for the act.)
Tag Archives: Obamacare
Sour Grapes, Low Hanging Fruit, and Fine Wine…
I’ve written about Obamacare often. (Here’s one such article– you can find more searching for Obamacare or PPACA via the search box to the right.) So have others. While the original goal of the concept was to improve the health of Americans, it seems that we settled for insuring most Americans and making health care more accessible. (A valid goal, but far less lofty.) But, there always is the hope that we can reduce the costs of healthcare, too.
Continue reading Sour Grapes, Low Hanging Fruit, and Fine Wine…
There’s a New Tax in Town…
For years, the one crucial question I had to ask my business tax clients was, “Can you be considered to be a real estate professional?” (If you don’t recall my discussions on this matter, you can refer to my blog posts here and here.) Because without that certification, it’s possible that all expenses involved in rental real estate operations may not be deductible on one’s Schedule E (1040).
Uncompensated Care
Lately, data are indicating that the seemingly inexorable rise in our health care costs may be attenuating. Is this real? Or, just an artifact? Given that there are large variations in health costs across the US, what does this trend mean for our local, state, and federal taxes. And, given that these difference in regional costs will become exacerbated as more (Republican) states refuse to run their own health care exchanges, some of us are in for additional costs.
It’s moving along…Obamacare, that is.
With all the hoopla about Obamacare (PPACA is its real acronym), one would think that it would be a total failure. But, even as a certain party keeps sniping at it, cutting funding, it’s making a difference in our health care.
Confused by the Tax Changes?
Congress, the Senate, and President Obama agreed on a tax compromise for 2013 and 2014. I know everyone thought it was a tax decrease- but that was ONLY because the taxes had INCREASED automatically with the change of the calendar to 2013. For most of the US, those who earn money from salaries, they will see a tax INCREASE, since the payroll tax holiday that obtained for the past two years disappeared. (The Social Security tax on one’s pay was reduced from 6.2% to 4.2%. Unfortunately, that meant that the trust fund was not collecting enough money to keep solvent.)
Grandstanding?
We’ve heard all the complaints. The Death Panels. It will kill business employment. It goes on and on. But, there needs to be some sanity, some truth to the discussion.
The Law of Unintended Circumstances
About 30 years ago, we were expanding our transportation company (which was related to our health care business) in California. And, given our philosophy of looking for folks who needed a helping hand, we hired two folks whom we trained to become truck drivers for our firm. They both worked 20 hours a week to start. Once they acquired enough hours to take the tractor-trailer license test (and passed), we began using them for 35 to 42 hours a week. When, all of a sudden, one of the drivers announced he was quitting.
So now, what?
PPACA, SCOTUS, and Reality…
The US constitution sets up a system of checks and balances for the three branches of government, the Executive (White House and Cabinet), the Legislative (the “Congress- House and Senate) and the Judicial (Supreme Court). The ability of the Legislative Branch to regulate our lives- economically and socially- involve four enunciated powers within that document.