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tommy
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Well apart from the fast-moving bands of severe thunderstorms that have been sweeping around the world killing people and leaving countries devastated and millions without power in record breaking heat waves, there is not as much happening at end of June as I thought might be. The extra second today making it the longest day we have lived is something perhaps. Oh yeh and there was some planet seen being evaporated by its sun and Colorado could be seen burning from space. But the day isn't over so something big still might happen yet before June is out.
If there is a single truth about Magic, it is that nothing on earth so efficiently evades it.

Tommy
balducci
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Speaking of June, June is one of the worst months for the stock markets.

But THIS June was the best for the Dow since 1997. It was up over 270 points yesterday.

http://www.cnbc.com/id/48011828

It's great for everyone when the free markets are happy like this.

:)
Make America Great Again! - Trump in 2020 ... "We're a capitalistic society. I go into business, I don't make it, I go bankrupt. They're not going to bail me out. I've been on welfare and food stamps. Did anyone help me? No." - Craig T. Nelson, actor.
mastermindreader
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Quote:
On 2012-06-30 11:38, balducci wrote:
Speaking of June, June is one of the worst months for the stock markets.

But THIS June was the best for the Dow since 1997. It was up over 270 points yesterday.

http://www.cnbc.com/id/48011828

It's great for everyone when the free markets are happy like this.

:)


Interestingly there was no reaction at all to this by those who predicted that the stock market would take a dive after Thursday's Supreme Court Ruling. Appears that the market isn't the least bit upset by it.
Woland
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I think the markets were reacting to Chancellor Merkel's latest capitulation.
mastermindreader
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They certainly weren't fazed by the Health Care decision.
Steven Steele
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Actually there was an effect. Hospital and drug companies stocks were reportedly up 15%. I didn't really expect any other reaction at this point.
Coram Deo
mastermindreader
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You're right, Steven. I was only suggesting that there was no negative effect on the markets. Obviously, the markets went up. And I suspect the decision actually had a lot to do with that, Chancellor Merkel's actions notwithstanding.
tommy
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As the Health Care project was written by and for the Wall Street Banksters to make trillions from the suckers, so it was little wonder the decision for it to go ahead caused the market to rise. Whoever thought the market would dip if the Health Care project went ahead could not have had their head screwed on right. Along with the banksters hearing they were getting billions bail from the suckers they had quite a good day. The Insurance companies though can't be too pleased after the storms, still you can't win them all I guess.
If there is a single truth about Magic, it is that nothing on earth so efficiently evades it.

Tommy
Scott Cram
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I have some good friends who live down the street that have 2 kids, one of which has Down's Syndrome. Their annual medical expenses related to dealing with his condition are about $10,000 - $11,000, which is mainly covered by the help of their employer's FSA.

Since the decision on Obama's health care tax increase was handed down, they now have to work out how to do without 75+% of that, as the Obama health care tax increase limits FSA expenditures for special needs kids to $2,500/year.

I guess you're right, Tommy. You can't win them all.
tommy
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So who is going to pay for it now?
If there is a single truth about Magic, it is that nothing on earth so efficiently evades it.

Tommy
Jeff J.
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It doesn't really matter who's going to pay for it. At the end of the day, we are all going to either help or get helped. Romney uses "Obamacare" as a political issue, but he did the exact same thing when he was in office.
Scott Cram
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Quote:
On 2012-06-30 18:07, tommy wrote:
So who is going to pay for it now?


Just as with any other tax increases, we'll all pay for the Obama health care tax increases:

Taxes that took effect in 2010:
1. Excise Tax on Charitable Hospitals (Min$/immediate): $50,000 per hospital if they fail to meet new "community health assessment needs," "financial assistance," and "billing and collection" rules set by HHS. Bill: PPACA; Page: 1,961-1,971

2. Codification of the “economic substance doctrine” (Tax hike of $4.5 billion). This provision allows the IRS to disallow completely-legal tax deductions and other legal tax-minimizing plans just because the IRS deems that the action lacks “substance” and is merely intended to reduce taxes owed. Bill: Reconciliation Act; Page: 108-113

3. “Black liquor” tax hike (Tax hike of $23.6 billion). This is a tax increase on a type of bio-fuel. Bill: Reconciliation Act; Page: 105

4. Tax on Innovator Drug Companies ($22.2 bil/Jan 2010): $2.3 billion annual tax on the industry imposed relative to share of sales made that year. Bill: PPACA; Page: 1,971-1,980

5. Blue Cross/Blue Shield Tax Hike ($0.4 bil/Jan 2010): The special tax deduction in current law for Blue Cross/Blue Shield companies would only be allowed if 85 percent or more of premium revenues are spent on clinical services. Bill: PPACA; Page: 2,004

6. Tax on Indoor Tanning Services ($2.7 billion/July 1, 2010): New 10 percent excise tax on Americans using indoor tanning salons. Bill: PPACA; Page: 2,397-2,399

Taxes that took effect in 2011:
7. Medicine Cabinet Tax ($5 bil/Jan 2011): Americans no longer able to use health savings account (HSA), flexible spending account (FSA), or health reimbursement (HRA) pre-tax dollars to purchase non-prescription, over-the-counter medicines (except insulin). Bill: PPACA; Page: 1,957-1,959

8. HSA Withdrawal Tax Hike ($1.4 bil/Jan 2011): Increases additional tax on non-medical early withdrawals from an HSA from 10 to 20 percent, disadvantaging them relative to IRAs and other tax-advantaged accounts, which remain at 10 percent. Bill: PPACA; Page: 1,959

Tax that took effect in 2012:
9. Employer Reporting of Insurance on W-2 (Min$/Jan 2012): Preamble to taxing health benefits on individual tax returns. Bill: PPACA; Page: 1,957

Taxes that take effect in 2013:
10. Surtax on Investment Income ($123 billion/Jan. 2013): Creation of a new, 3.8 percent surtax on investment income earned in households making at least $250,000 ($200,000 single). This would result in the following top tax rates on investment income: Bill: Reconciliation Act; Page: 87-93

11. Hike in Medicare Payroll Tax ($86.8 bil/Jan 2013) Bill: PPACA, Reconciliation Act; Page: 2000-2003; 87-93

12. Tax on Medical Device Manufacturers ($20 bil/Jan 2013): Medical device manufacturers employ 360,000 people in 6000 plants across the country. This law imposes a new 2.3% excise tax. Exempts items retailing for <$100. Bill: PPACA; Page: 1,980-1,986

13. Raise "Haircut" for Medical Itemized Deduction from 7.5% to 10% of AGI ($15.2 bil/Jan 2013): Currently, those facing high medical expenses are allowed a deduction for medical expenses to the extent that those expenses exceed 7.5 percent of adjusted gross income (AGI). The new provision imposes a threshold of 10 percent of AGI. Waived for 65+ taxpayers in 2013-2016 only. Bill: PPACA; Page: 1,994-1,995

14. Flexible Spending Account Cap – aka “Special Needs Kids Tax” ($13 bil/Jan 2013): Imposes cap on FSAs of $2500 (now unlimited). Indexed to inflation after 2013. 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 thousands of 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. Bill: PPACA; Page: 2,388-2,389

15. Elimination of tax deduction for employer-provided retirement Rx drug coverage in coordination with Medicare Part D ($4.5 bil/Jan 2013) Bill: PPACA; Page: 1,994

16. $500,000 Annual Executive Compensation Limit for Health Insurance Executives ($0.6 bil/Jan 2013). Bill: PPACA; Page: 1,995-2,000

Taxes that take effect in 2014:
17. Individual Mandate Excise Tax (Jan 2014): Starting in 2014, anyone not buying “qualifying” health insurance must pay an income surtax. Exemptions for religious objectors, undocumented immigrants, prisoners, those earning less than the poverty line, members of Indian tribes, and hardship cases (determined by HHS). Bill: PPACA; Page: 317-337

18. Employer Mandate Tax (Jan 2014): If an employer does not offer health coverage, and at least one employee qualifies for a health tax credit, the employer must pay an additional non-deductible tax of $2000 for all full-time employees. Applies to all employers with 50 or more employees. If any employee actually receives coverage through the exchange, the penalty on the employer for that employee rises to $3000. If the employer requires a waiting period to enroll in coverage of 30-60 days, there is a $400 tax per employee ($600 if the period is 60 days or longer). Bill: PPACA; Page: 345-346 Combined score of individual and employer mandate tax penalty: $65 billion/10 years

19. Tax on Health Insurers ($60.1 bil/Jan 2014): Annual tax on the industry imposed relative to health insurance premiums collected that year. Phases in gradually until 2018. Fully-imposed on firms with $50 million in profits. Bill: PPACA; Page: 1,986-1,993

Taxes that take effect in 2018:
20. Excise Tax on Comprehensive Health Insurance Plans ($32 bil/Jan 2018): Starting in 2018, new 40 percent excise tax on “Cadillac” health insurance plans ($10,200 single/$27,500 family). Higher threshold ($11,500 single/$29,450 family) for early retirees and high-risk professions. CPI +1 percentage point indexed. Bill: PPACA; Page: 1,941-1,956

Basically, those without healthcare will be taxed at least $695, and that amount will only go up.

Better use those healthcare services and get your money's worth! Of course, everyone else will be thinking the same thing, so you can just wait longer to see the same amount of doctors. That's assuming that no doctors quit over the frustration of having to see as many people as possible.

Gee, more people seeing the same or fewer amount of doctors...wonder what that will do to healthcare costs? No problem, we can just raise the existing taxes, and create new taxes to pay for that, too.

Oh, and don't forget that the Supreme Court ruled that states cannot be punished for not participating, so the 26 states that brought the suit in the first place (Alabama, Alaska, Arizona, Colorado, Florida, Georgia, Idaho, Indiana, Iowa, Kansas, Louisiana, Maine, Michigan, Mississippi, Nebraska, Nevada, North Dakota, Ohio, Pennsylvania, South Carolina, South Dakota, Texas, Utah, Washington, Wisconsin, and Wyoming) are unlikely to participate in the first place, so that will simply increase the burden on the remaining 24 states.
balducci
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Apparently that list comes from the conservative lobby group Americans for Tax Reform, care of Americans for Tax Reform President Grover Norquist:

http://www.newsmax.com/GroverNorquist/Ob......d/443995

So is the list accurate? I honestly do not know.

I suspect it needs to be taken with more than a few grains of salt. Even if it is totally accurate, it fails to mention tax cuts that went into effect in recent years.
Make America Great Again! - Trump in 2020 ... "We're a capitalistic society. I go into business, I don't make it, I go bankrupt. They're not going to bail me out. I've been on welfare and food stamps. Did anyone help me? No." - Craig T. Nelson, actor.
tommy
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Anyway for the next 20 days as we move into night of the Mayan day things should calm down until the next day.
If there is a single truth about Magic, it is that nothing on earth so efficiently evades it.

Tommy
LobowolfXXX
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Imagine if a cabal of Mayan bankers controlled things.
"Torture doesn't work" lol
Guess they forgot to tell Bill Buckley.

"...as we reason and love, we are able to hope. And hope enables us to resist those things that would enslave us."
TomBoleware
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Doesn't really apply to me, I'm covered, but still very curious about:
Where does all this tax money go, but more importantly who gets free insurance now?

If everybody has to go out and buy insurance or be taxed, I just don't understand. Who gets the free insurance?


Tom
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https://www.vanishingincmagic.com/amazekids/the-daycare-magician/

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tommy
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http://www.mayanmajix.com/art430.html

Well I guess since it will cost more than we the suckers can afford, we the suckers, will have to borrow money from the international banksters at interest. Thus most it will go to the banksters as usual. The funny thing is they will buy our IOUs with our money and I guess they will fine the suckers who don't pay.
If there is a single truth about Magic, it is that nothing on earth so efficiently evades it.

Tommy
Woland
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Because the economy can't afford to pay doctors, hospitals, and insurance companies, it will now be possible to pay doctors, hospitals, insurance companies, and a federal bureaucracy to supervise those payments.
Devious
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I sure hope you folks are keeping cool.
Here in Southern California, it's a nice 67, but I've sure heard
from so many tourists, how hot it is where they come from.

I only yesterday realized about the huge power issues on the east coast as well.
Hang tough my friends!
Devious Deceptions
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L'Chaim!
balducci
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Quote:
On 2012-07-01 10:28, Devious wrote:

I sure hope you folks are keeping cool.

Are you talking about the 2100+ alleged record-setting high temperatures (in the U.S.) this month? Or the fact that high temperature records (in the U.S.) are out-pacing cold temperature records by about 7 to 1 this year? And that the longer term trend over the last several years is something like 2-1, when it should be approximately 1-1 if no "global climate change" was occurring?

Devious, oh my, I believe you fell for more of those stories made-up by the lame-stream media to hawk global climate change.

;)
Make America Great Again! - Trump in 2020 ... "We're a capitalistic society. I go into business, I don't make it, I go bankrupt. They're not going to bail me out. I've been on welfare and food stamps. Did anyone help me? No." - Craig T. Nelson, actor.
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