BHO and the $716 BILLION Medicare cut

[aegsm76]

link

http://www.forbes.com/sites/aroy/2012/08/13/yes-obamacare-cuts-medicare-more-than-president-romney-would/

snippet

You wouldn’t know it from listening to the Obama campaign, but there’s only one Presidential candidate in 2012 who has cut Medicare: Barack Obama, whose Affordable Care Act cuts Medicare by $716 billion from 2013-2022.

[Sam]

but it's the Republicans that the lame stream media accuse of wanting to push granny over the cliff in her wheelchair

[Walks_in_islam]

Obama medicare cut: A cut in the amount of money that a working person was, prior to Obama, able to bring home and use for his or her family or personal needs, taken from that individual, and diverted to the medicare program

Starting in 2013, an extra 0.9% Medicare tax will be charged on: (1) salary and/or SE income above $200,000 for an unmarried individual, (2) combined salary and/or SE income above $250,000 for a married joint-filing couple, and (3) salary and/or SE income above $125,000 for those who use married filing separate status. For self-employed individuals, the additional 0.9% Medicare tax hit will come in the form of a higher SE bill

Also starting in 2013, all or part of the net investment income, including long-term capital gains and dividends, collected by higher-income folks can get socked with an additional 3.8% "Medicare contribution tax." Therefore, the maximum federal rate on long-term gains for 2013 and beyond will actually be 23.8% (versus the current 15%) and the maximum rate on dividends will be a whopping 43.4% (versus the current 15%).


Right now, there's no tax-law limit on contributions to your employer's healthcare flexible spending account (FSA) plan (although many plan impose their own limits). Amounts you contribute to the FSA plan are subtracted from your taxable salary. Then you can use the funds to reimburse yourself tax-free to cover qualified medical expenses. Good deal! Starting in 2013, however, the maximum annual FSA contribution for each employee will be capped at only $2,500.

Right now, you can claim an itemized deduction for medical expenses paid for you, your spouse, and your dependents, to the extent the expenses exceed 7.5% of AGI. Starting in 2013, the hurdle is raised to 10% of AGI.

The above are not medicare cuts. They are cuts in individual's earnings.

[aegsm76]

Wii - if you are saying that the above are the Medicare cuts under Obamacare, you are incorrect.
Here is a BHO friendly link that states what the cuts are.

link

http://swampland.time.com/2012/08/16/fact-check-obamacares-medicare-cuts/

snippets

As for the cuts, they come from eliminating a massive subsidy to private insurers and gradually reducing the rate of growth in payments to some providers.
The second bunch of money that gets cut from Medicare under Obamacare comes from providers. Hospitals, home health agencies and others will see Medicare payments grow more slowly than they have in the past.
Medicare benefits will not change – in theory. However, providers who get paid less from Medicare in the future may be less inclined to accept Medicare patients, thereby reducing access.

[Walks_in_islam]

Here's my favorite. We should all be better off with this one:

The 2.3 percent tax on medical device makers will raise the price of (for example) every pacemaker, prosthetic limb, stent, and operating table

Only an idiot would claim that healthcare costs will go down for every American while taxing the production of every single device in the medical system.

[Walks_in_islam]

Your original article summarized it nicely:

.....because it cuts Medicare by $716 billion in order to fund $1.9 trillion in new health care spending......

Um aegsm........only on "planet Obama" and among those who reside there is diversion of $716 billion from one place to help, along with tax increases, fund $1.9 trillion in another place considered a "cut"

My definition of a cut: Identify and stop unnecessary spending thereby paying less for what you need with what you already have

Your definition of a cut: Use what you already have, raise more revenue by taking it out of working people's pockets, and spend more (a LOT more) in a different way

Wii - if you are saying that the above are the Medicare cuts under Obamacare, you are incorrect.
Here is a BHO friendly link that states what the cuts are.

link

http://swampland.time.com/2012/08/16/fact-check-obamacares-medicare-cuts/

snippets

As for the cuts, they come from eliminating a massive subsidy to private insurers and gradually reducing the rate of growth in payments to some providers.
The second bunch of money that gets cut from Medicare under Obamacare comes from providers. Hospitals, home health agencies and others will see Medicare payments grow more slowly than they have in the past.
Medicare benefits will not change – in theory. However, providers who get paid less from Medicare in the future may be less inclined to accept Medicare patients, thereby reducing access.