Benefits to be taxed as income - It's coming...
During our health insurance open enrollment meetings today, our HR rep told us that now, for the first time, the company is required to report how much our benefits package is to the IRS. They (our company) were told it was just for "recording purposes." Yeah, right. Suddenly Obamacare is passed and now the government wants to know what my insurance is worth. Coincidence? I think not.
What just kills me is when the proponents of Obamacare, namely Obama, say that if you have insurance and you are happy with it, you can keep it. No problem. What they are neglecting to tell everyone is that your income taxes are going to shoot through the roof because you'll now be taxed on the worth of your benefits.
Why in the world would anyone vote for a party/pres that wants to do this?
I just don't get it. There'll be lots of unhappy Obama supporters come tax time.