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Why is Obama raising taxes on parents of special needs kids January 1?
The Obamacare Flex Account Tax: The 30-35 million Americans who use a pre-tax Flexible Spending Account (FSA) at work to pay for their family’s basic medical needs will face a new government cap of $2500. This will squeeze $13 billion of tax money from Americans over the ten years. (Currently, the accounts are unlimited under federal law, though employers are allowed to set a cap.)
There is one group of FSA owners for whom this new cap will be particularly cruel and onerous: parents of special needs children. There are several million families with special needs children in the United States, and many of them use FSAs to pay for special needs education. Tuition rates at one leading school that teaches special needs children in Washington, D.C. (National Child Research Center) can easily exceed $14,000 per year. Under tax rules, FSA dollars can be used to pay for this type of special needs education. This Obamacare tax provision will limit the options available to these families.
Read more: http://atr.org/trillion-obamacare-tax-hike-hitting...
8 Answers
- 8 years agoFavorite Answer
I am uninsured. I am not able to afford insurance and my employer does not provide insurance. That said, I see NO benefit of this ObamaCare. It is all about more taxes, more fees, and more goverment control. Obama wants a monopoly.
Did you know that even if you have private insurance you may STILL get slapped with a tax fee? Under ObamaCare -- and anyone who has actually READ the darn thing would know -- that your insurance must cost you AT LEAST 8% of your total Gross Income (which is your income before taxes are taken out) or you will STILL pay the fine for not having coverage.
Source(s): What is my source? The ACTUAL "Affordable Care Act" ... try reading it before promoting it: http://www.healthcare.gov/law/resources/authoritie... - Anonymous8 years ago
I feel that Congress would be responsible....they have 2 more days to pass something that will stop taxes from going up on the majority of Americans. The 5% that earns $250,000 or more can wait until the new Congress comes in.
- Anonymous4 years ago
whilst that's no longer the case, the fact keeps to be that the day could desire to while the government in fact DOES start up implementing new taxes on each thing we do, which includes economic business enterprise transactions. The requirement for direct deposit is a money-saving plan, no longer on the subject of taxing it. you are able to no longer purchase paper US discounts Bonds at a economic business enterprise to any extent further, for the comparable reason.
- darcy mLv 78 years ago
buy any weapons lately
dear nra
what fn nonsense this site has become
come on really sane people do not even read past first line any longer
all crap all bs all $hit that sprews from anyone who calls them selves NRA
all nra after 26 babies where blown to bits because of people like you who insist on having that crap and if can not buy it themselves get girlfriend or mom to buy it and go murder firefighters what have planned next or negative repub what next
Source(s): grrrrrrrrrrrrrrrrrrrr - 8 years ago
It's part of the fiscal cliff. Anyone who focuses on what's happening even when there's not an election happening would know that.
