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Reply With QuoteYou mean to tell me the Congressional Budget Office got an estimate wrong, AGAIN???
HOLY FUCKING SHIT, SAY IT ISN'T SO!!!
CBO to employers: Obamacare has $4B more in taxes than expected
Business owners will pay $4 billion more in taxes under President Obama’s Affordable Care Act (ACA) than the Congressional Budget Office had previously expected.
“According to the updated estimates, the amount of deficit reduction from penalty payments and other effects on tax revenues under the ACA will be $5 billion more than previously estimated,” the CBO reported today. “That change primarily effects a $4 billion increase in collections from such payments by employers, a $1 billion increase in such payments by individuals, and an increase of less than $500 million in tax revenues stemming from a small reduction in employment-based coverage, which will lead to a larger share of total compensation taking the form of taxable wages and salaries and a smaller share taking the form of nontaxable health benefits.”
In short, CBO revised the Obamacare tax burden upward by $4 billion for businesses and $1 billion to $1.5 billion for individual workers.
CBO couldn’t help but bump into Chief Justice John Roberts controversial decision uphold the individual mandate as a constitutional exercise of Congress’s taxing power. The report dubs the individual mandate a “penalty tax” — that is, “a penalty paid to the Treasury by taxpayers when they file their tax returns and enforced by the Internal Revenue Service.”
http://washingtonexaminer.com/cbo-to...rticle/2503013
time for 0bama to go....
You mean to tell me the Congressional Budget Office got an estimate wrong, AGAIN???
HOLY FUCKING SHIT, SAY IT ISN'T SO!!!
Imagination was given to man to compensate him for what he is not, and a sense of humor was provided to console him for what he is.- Oscar Wilde
They knew the numbers were off before they even voted on the bill, debates with republicans on the bill (financially)can be found on youtube but they just steamrolled it through anyway.
Originally Posted by NoDrama
The strangest thing about the CBO! Whenever they estimate that taxes or costs will be low, they are wrong but whenever they estimate costs or taxes will be high, they are always accurate.
Argue for your opinion because it is true, not because it is your opinion.
Please check out my Micropropagation journal
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Maybe because these programs ALWAYS end up costing double, triple, 10, 50 times more than the Progressives on both sides of the aisle say they will. It ain't strange, it's the reality that's flapping and squawking around in our faces. Unfortunately, a great many of our fellow citizens have the ability to disregard the obvious.
OBAMA 2012 CLINTON 2016
here's part of the article I just read...
"Obamacare will cost less… The new CBO scoring shows that the net cost of Obamacare will be $84 billion less over the next 10 years than predicted in its last analysis in March 2012. Spending on the Medicaid and the Children’s Health Insurance Program expansion will fall by $289 billion, while increased spending on the exchanges to cover some of those who will no longer qualify for Medicaid will cost $210 billion."
furthermore... "CBO says that the house repeal bill would increase the deficit by $109 billion through 2022."
The republican plan to repeal would add 109 billion to the deficit over the next 10 years. Sticking with the president's plan would save 84 billion over the next 10 years. That was what the original CBO report said.
Last edited by M B P; 07-24-2012 at 05:51 PM.
Don't worry it's not really Manbearpig. It's me... Al Gore.
I have found that little of what people consider to be obvious really is.
Argue for your opinion because it is true, not because it is your opinion.
Please check out my Micropropagation journal
http://www.rollitup.org/grow-journal...tion-grow.html
I guess you are referring to the CBO estimates that the Bush tax cuts would reduce revenues by 100s of billions if enacted and the results were an Increase in hundreds of billions instead.
The CBO has said they scored the bill as written, and as written they used 4.0 GDP growth based on the silly projections by the dems of the stimulus result. If debated today there is no way that poorly written bill gets passed.
Fair enough. However, I would say that a $16 trillion dollar debt, an annual $1.4 trillion deficit and $120 trillion in unfunded liabilities is cause for concern. Some "experts" use the term, recipe for disaster. I find myself leaning in the direction of their analysis.
OBAMA 2012 CLINTON 2016
if deficits don't matter why bother collecting taxes at all?
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