Gumby's Account Talk

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I've noticed there is some sort of cut-off time simular to how the I-Fund is. I haven't figured it out yet, but I think it's somewhere near the end of the day.
 

Before you sing the praises of the new Health Care….. consider the following that the “pump monkeys” that have been covering the health-care debate neglected to inform people.

• Requires employers to report the value of health care benefits on employees’ W-2 tax statements.

• Limits medical expense contributions to taxsheltered flexible spending accounts (FSAs) to $2,500 a year, indexed for inflation. Raises threshold for claiming itemized tax deduction for medical expenses from 7.5 percent of income to 10 percent. People over 65 can still deduct medical expenses above 7.5 percent of income through 2016.

Provisions that takes effect this year but most if any benefits are in the future. What does it mean? Very simple…. For most Federal Employees that have BC/BS insurance,- the government contribution is close to $10K per year. If you are in the 28% tax bracket and the government contribution is taxed as income…. Guess what…. We all get to pay an additional ~$2,800 year in taxes.
This is in striking opposition to what BO indicated would happen with the health plan. He said most people would save $2,500 per year on premiums.

Also, I am looking for the cost of Federal Health care insurance premiums to double by 2014 due to provisions that require insurance companies to not deny coverage for pre-existing conditions. If that happens, our new “tax” will amount to over $5,000/yr. That just has to put a smile on your face when you think about all those Illegal aliens, and other assorted deadbeat that won’t have to go to the emergency room for health care anymore. They now will get to compete with you for an appointment with your local doctor since they will now have direct competition for your doctor’s time.

Can someone please explain to me how this new and massive intrusion into our health care delivery system is good for the working men and women? And while your at it, please explain to me how this is going to reduce the deficit.:rolleyes:
 
Gumby said:
Before you sing the praises of the new Health Care….. consider the following that the “pump monkeys” that have been covering the health-care debate neglected to inform people.

• Requires employers to report the value of health care benefits on employees’ W-2 tax statements.


Can someone please explain to me how this new and massive intrusion into our health care delivery system is good for the working men and women? And while your at it, please explain to me how this is going to reduce the deficit.:rolleyes:
Click to expand...

Just because the government contribution will be reported on the W-2 form, that doesn't mean it will be included as taxable income. I hadn't heard that if so.

If this is actually upheld by the courts then this will become one of the nails that starts the slide down into the abyss this summer. I wish I could post Bob McHugh's rant in his latest newsletter, he gave good examples of how this will destroy small business's. The only jobs created from this will be more federal employees.

I'm rather amazed at how well the markets held up today considering how awful the bond auctions were. Maybe a lot of the money coming out of bonds was going into stocks. And the dollar, sheez, I guess the excuse for the big dollar rally is Portugal's downgrade? What a joke. The U.S. is just a few dominos further down the line so why would that be good news for the dollar versus other currencies? The dollar moved closer to collapse today. Whatever, the charts say the markets will work higher for now and that's the only reason I'm still in. I might move some from S to C though soon since the C fund is starting to outperform small caps as the rally matures.
 
Tsunami said:
Just because the government contribution will be reported on the W-2 form, that doesn't mean it will be included as taxable income. I hadn't heard that if so.
Click to expand...

Why would it be included on the W-2 then? I hope your right that the amount is not taxable income. I am sure the details will come out sometime in the future.
 
At a very minimum, this information will be used to evaluate the cost of our health care. This amount will then be used to determine whether or not our plans qualifiey for "Cadillac Status".

If they do add appx >4% of that amount to your Income Tax bill if I understand correctly.

Treating to whole enchalida as income....OH that will come later!

You can stake your life on it!
 
Went back from fully invested to 50% G today..... to many up days from the market to get confortable with.
Finally got back above the "G" fund return on the tracker.....seems like I have done everything wrong this year.:nuts:
 
Getting out of stock funds and going 100% F today.
I am expecting the S&P to head lower in the near future.
 
Don't worry, you're not alone.
Why Are Your Health Insurance Premiums Going Up?

FEHB Premiums going up
Civil Engineer
VHA
What a shock! Going up you say? Why? Because they can.....it's as simple as that, because they can.....

Re: FEHB Premiums going up
Accountant GS 14 Retired
DOE, Albuquerque Service Center
So what year did premiums go down as a group since 1978?. NEVER!. Dont blame the Comprehensive health care reform!

Read My Lips
Software Engineer
US Army
Obamacare! Obamacare! Obamacare! Goodbye Polesi and Reid.

Re: Read My Lips
Engineer
FAA
HOW RIGHT YOU ARE
Obamacare has caused my rates to go up. Last weekend, I looked over my pay stubs for the past couple of decades (I've kept them all), and my insurance rates have gone up PRETTY MUCH EVERY YEAR.
All this is because of Obama. He began raising my rates in the 1980's, 1990's, 2000's and now again in the 2010's. I'm sure he'll continue to raise my rates until I die, then he'll raise them again.
How does that man do it? I'll tell you. He started the oil embargo in the mid 1970's, then caused high interest rates a few years later. Obama caused the recession of the early 1980's and the stock market crashed in 1987. He started both Persian Gulf wars, and caused the tech and housing bubbles of the past 10 years.
Finally, he is responsible for taking Doogie Howser off the air - a GR8 TV show IMHO.
Remember, Obama is responsible for all the evil in this world. Anybody who says otherwise is either well read or a Democrat.
I'm well read, not a Democrat, BTW

Re: Read My Lips
Worker
Fed
spot on, Engineer FAA. A mindful post.
Isn't it amazing how some people aren't happy unless they have someone to blame in this country ?
and BTW - I too am not a Democrat.

Re: Read My Lips
Aviation Safety Inspector
FAA
FAA Engineer & worker fed: I don’t believe either one of you. I think you’re both Democrats. And your sorry attempt at humor doesn’t change a thing. The fact is he rode into office on promises of lowering the cost of health care and instead we get sky rocketing rates. Either he lied to get into office or he’s incompetent. No matter which it is he’s a disaster. Your stalwart support proves you’re both democrats even if not currently registered that way.

Re: Read My Lips
Diversity Mgr
DOL
engineer and worker will reap their just reward come 2012. That's when the new federal tax on homes kicks in. If you sell your home or any real estate beginning in 2012 you will have to pay a 3 1/2% sales tax to the Fed Govt to pay for obamacare.
I'm sure democrats will be exempt

Re: Read My Lips
Engineer
FAA
Of course he lied to get into office; that's the definition of a politician.

BTW, my insurance rates have been soaring for almost a decade. It wasn't Bush's fault back then, nor is it Obama's fault now.
Health care costs are skyrocketing, hence your insurance premiums are skyrocketing.
Why do hospitals charge $5 for an aspirin? To make up for the costs of the uninsured that they must care for BY LAW (passed under Reagan).
A lot of illegals use the hospital emergency rooms for standard care, and the hospitals must pass on the costs to the insurance companies, who pass the costs to us.
It's that simple. It's not a left or right issue. It's a case of the U.S. not being #1 in infant mortality, not being #1 in longevity, not being #1 in child care or preventative medicine, yet we insist we have the best in the world.
Forget the rhetoric, look at facts.
Also, If we all got up and moved around and become healthier, we wouldn't have these large health costs.

Re: Read My Lips
Worker
Fed
Nice try Diversity mgr.
If Democrats are exempt from your 3.5 % tax ( actually the tax you are refering to is 3.8 % ), that still would not affect me.
What WOULD make my sales gain exempt is the fact that I would not have a profit greater than $ 250,000.
http://www.factcheck.org/2010/04/a-38-percent-sales-tax-on-your-home/
Just rewards, indeed.
Try to do your homework next time.

Health Care Premiums
Engineer
US Army War College
Keep up the good work President Obama. My health insurance premiums are only going up more than 14% next year - instead of the 20% they went up last year.
OOPs - I forgot you were the Prez then too.
Thank goodness we got that ObamaCare!!
Can you imagine how much our premiums would have gone up w/out it?????
At least the President is getting what he wanted - a bankrupt country and a bankrupt workforce!
Please don't forget to FLUSH all the TURDS in Congress this November!

Re: Health Care Premiums
Analyst
DOT
And don't you just love the quick mention of a 1.4 percent raise,,, on top of the paired down raise Obama stuck Feds with last year (in order to spread the pain). The Obama years will be the worst years in Feds salary years and those years stay there into perpetuity. The dim libs would never have allowed Bush or any Republican to get away with avoiding pay parity last year. Why did we allow Oabama to get away with it?

Re: Health Care Premiums
Worker
Fed
stop your whining.
Is it really surprising that the average American thinks that us feds are overpaid ? All they see and hear are people whining about an increase of less than $ 6 every two weeks in medical premiums and even getting a 1.4 % raise ?
We should be fortunate that we have jobs where we are well taken care of. If you disagree, go out and get a job in the private sector. Only then will you appreciate what we have.

Re: Health Care Premiums
Investigator
USDA
So the crux of your comment "stop whining" is that because there are unemployed or some less fortunate, its ok for everyone to lay down and let Obama spread the pain? And what did that do for the masses who were unemployed? Only thing that sickens me about that sort of logic (other than its obvious flaw) is that it is premised on the mistaken belief that we are not due any sort of raise whatsoever. If that is what is good for the military, then fine. I think the other person's comment was, why were Feds treated differently in Obama's first year. Looks like Obama will continue to mistreat folks and your only solution is that if they don't like it, leave?

Re: Health Care Premiums
worker
fed
Thank you Worker Fed for your comments even if you are not a liberal. I am not either, by 1960's standards, but this country has turned so far to the right, that maybe I am now. And those that are now of the radical right may have been radical leftists in the 60's. Who knows.
Anyway, engineer, you will look for any way to blame Obama. I remember when Reagan raised our rates 40-50% with a pay freeze. Were you around then? Did you comment? Probably not. How much of the increase was caused by the new insurance law (not Obamacare)? You probably want the kool aid tea drinkers who will make a mess of our country.
analyst DOT,
It is very difficult to justify raises during a depression. Your friend, George Bush gave us this one. As far as bad years, I heard that Eisenhower gave no raises while in office. I was not working then, so please verify. Times were bad then. I know Reagan was very stingy with raises, but raised medical premiums much worse than Obama. Getthefacts

Re: Health Care Premiums
Worker
Fed
The crux of my comment was that we, as feds, are much better off than many of our fellow Americans. And given the fact that this country is in such bad economic times - and they were not caused by Obama, even though many misguided people seem to believe so - we should feel fortunate that we are even getting a raise (if we indeed are ) And the second part of the "crux" is people who seem to blame everything on Obama. Last time I looked he is the President - not a dictator. He doesn't make all the decisions on where to "spread the pain" and to "mistreat folks" ( now that is an obvious flaw in logic )
So don't bother laying down - Instead vote in the upcoming elections. But in the meantime realize that with all the talk of furloughs and changes to our benefits, there are worse things that can happen to us than to get a mere 1.4 % pay raise. And if a $ 7 a paycheck increase in medical cost is the biggest problem in your life, consider yourself lucky.
 
crws said:
Re: Health Care Premiums
Analyst
DOD
Worker Fed, less than $6.00 every two weeks? Mine will increase by $13.00 every two weeks plus all the other increases for seeing the doctor, prescriptions, and so on and so on, so it’s not just the monthly premium that will increase. I’m single so guess I am paying for all those kids until they are 26 and then they will have kids so I will pay for them too. I do feel fortunate to have a job, but just because I have a job doesn’t mean I should be the whipping boy for those that don’t and I do agree totally with Investigator USDA. How sad, just because we are fortunate enough to have a job we are supposed to just roll over and take it again.

Re: Health Care Premiums
Worker
Fed
The $6 ( or $ 7 ) figure I used was the average cited in some of the articles. Sorry to hear you are out $ 13 a paycheck. But aren't we fortunate that we have so many choices on health care that we can switch between many different options to save money or to tailor our plan to our needs? I too am single and switched last year after doing some research.
Whipping post ? Are you kidding ? Here's the facts -
The company we work for is nearly bankrupt. Heck if you were to use a real life business definition, we are bankrupt ! The shareholders ( the American public ) are thinking that we are overpaid ( I'm not saying we are ) and have an overly lucrative benefit package ( cannot totally agree, but will agree we have it pretty darn good ) In any other business environment we would have pay cuts or layoffs.
So you have to pay a few extra dollars in health care, which will be more than covered by a raise -( again assuming we even get it )
Does none of this make sense to you ?

Re: Health Care Premiums
Resource Specialist
USDA
I don't think anyone is complaining about having a job or medical benefits. But why does it seems that the only solution to the mess the economy is in is to take away Federal Employee raises and or freeze our salaries! There are so many other places the Fed Govt needs to cut spending that it is a shame there is so much focus on our salaries and benefits! There is so much waste we need to start there were the real money is. And I still don't make $100,000, even with benefits and I only have six years to retirement! I just wish the Public had the real facts and not the inflated ones.

Re: Health Care Premiums
Analyst
DOD
Sorry Fed Worker, if we do get that raise, which is doubtful, it will not cover the increase in the health benefits alone. I don’t know about you, but I signed a contract with the Federal government in 1983 which included a really good benefit package but not such a good wage. I made more in private industry, my choice. I had to move twice due to closures, again my choice although I didn’t hear anything from the private side as it didn’t affect them personally. So now things are not so great in the private sector and I should actually feel guilty to have this job & benefits. When the economy picks back up I will once again be consider not to bright for going to work for the government in the first place. I will try to feel guilty when I'm rolling out of bed at 4:00 AM for those unfortunates that can sleep all day if they want too.
Click to expand...
Cheers.
 
CRWS, nice read. You covered a lot of turf. I was just reading a bit on the 90% tax bracket in the Eisenhower years and the growth in this country of the middle class as well as the infrastructure that allowed so a great economy to be built. Using a broad stroke to consider ones salary, it seems unfair that one person should be able to make in one hour what another can make in a year, then be taxed a similar percentage. Looking back I kind of like Ike.


Tax Comparison: Obama vs Reagan, Nixon, Eisenhower
March 13, 2009 03:33 PM EDT
views: 9865 | 1 person recommends this | comments: 88
I received this chart, from The Washington Monthly, in an email this morning. I thought I would pass it along in case you have not seen it.

The media has been obsessing about President Obama's plan to roll back the Bush tax cuts for the wealthiest Americans—from 35% to 39.6%.

But I was surprised to learn that the tax rate the wealthiest Americans paid on the top portion of their earnings at the end of Ronald Reagan's first term was much higher -- 50%.

Under Richard Nixon it was 70%, and under Dwight Eisenhower it was actually 91%.
 
My father, a self-employed builder, got into that 90% bracket when I was a boy. Being a builder he could knock off for the central NY winter. "Why should I work for the govt?" he'd say. Those were good years to be building houses. :)
 
Gumby,
A lot of habits Ella has -- I'm always wishing I could ask you about to see if Stella has the same habits.

FOOD - Ella starts by grabing some dog food (in the corner) and walks over about 8 feet to the backdoor -- drops them on the little rug -- and then returns to the bowl.

SLEEP - Ella will flip over on her back and sleep with her stomach and chest wide open -- has done that here and there throughout.

JUMPS - Sometimes when she's running -- she'll jump like a 'deer' which is kind of cool
 
Steadygain said:
Gumby,
A lot of habits Ella has -- I'm always wishing I could ask you about to see if Stella has the same habits.

FOOD - Ella starts by grabing some dog food (in the corner) and walks over about 8 feet to the backdoor -- drops them on the little rug -- and then returns to the bowl.

SLEEP - Ella will flip over on her back and sleep with her stomach and chest wide open -- has done that here and there throughout.

JUMPS - Sometimes when she's running -- she'll jump like a 'deer' which is kind of cool
Click to expand...

Hey Steady, Stella does a couple of those. She always eats from her bowl,,,very good manners. She will sometimes sleep on her back with the legs up but most of the time she will curl into a ball on her big pillow. Stella like to jump also... especially when she goes after the frisby. And of course she always greets me at the door when I get home demanding to be rubbed. She is the best dog I have ever had to enjoy...actually she is more like a big kid.Now if she could just choose my IFT allocation..... maybe I could retire someday.
 
Intrepid_Trader,

Thanks for getting me out of the F fund this week.... It appears to be taking a HUGE drop today.:)
 
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