IRS aims to clarify investment income tax under healthcare law | Reuters

(Reuters) – The Internal Revenue Service has released new rules for investment income taxes on capital gains and dividends earned by high-income individuals that passed Congress as part of the 2010 healthcare reform law.

The 3.8 percent surtax on investment income, meant to help pay for healthcare, goes into effect in 2013. It is the first surtax to be applied to capital gains and dividend income.

The tax affects only individuals with more than $200,000 in modified adjusted gross income (MAGI), and married couples filing jointly with more than $250,000 of MAGI.

The tax applies to a broad range of investment securities ranging from stocks and bonds to commodity securities and specialized derivatives.

The 159 pages of rules spell out when the tax applies to trusts and annuities, as well as to individual securities traders.

Released late on Friday, the new regulations include a 0.9 percent healthcare tax on wages for high-income individuals.

Both sets of rules will be published on Wednesday in the Federal Register.

The proposed rules are effective starting January 1. Before making the rules final, the IRS will take public comments and hold hearings in April.

Together, the two taxes are estimated to raise $317.7 billion over 10 years, according to a Joint Committee on Taxation analysis released in June.

To illustrate when the tax applies, the IRS offered an example of a taxpayer filing as a single individual who makes $180,000 in wage income plus $90,000 from investment income. The individual’s modified adjusted gross income is $270,000.

The 3.8 percent tax applies to the $70,000, and the individual would pay $2,660 in surtaxes, the IRS said.

The IRS plans to release a new form for taxpayers to fill out for this tax when filing 2013 returns.

The new rules leave some questions unanswered, tax experts said. It was unclear how rental income will be treated under the new rules, said Michael Grace, managing director at Milbank, Tweed, Hadley & McCloy LLP law firm in Washington.

“The proposed regulations surely will increase tax compliance burdens for individuals,” said Grace, a former IRS official. “There’s clearly some drafting left to be done.”

via IRS aims to clarify investment income tax under healthcare law | Reuters.

Missouri Farmers Fight Rise In Hay Thefts « CBS St. Louis

ST. LOUIS (KMOX) – As if it’s not bad enough that Missouri farmers are trying to survive the worst drought in decades, now many of them are facing a new problem that’s costing them big bucks.

Missouri Farm Bureau president Blake Hurst says thieves are actually targeting those big bundles of hay that are left out in fields prior to being harvested, hauling them off and selling the valuable commodity.

“Of course, no one brands their hay so if you hook onto it with your tractor or your pickup and make it out the gate, then it’s impossible to prove where the hay came from,” Hurst said.

With winter approaching and grass dying out, the price for fresh hay to feed livestock is on the rise, and Hurst says that makes unguarded bales a tempting target.

Ironically, it’s because of the ongoing drought that fresh hay has become so valuable with the winter season fast approaching.

And it’s not just Missouri. This trend is happening in farm states across the country, so much so that some are now putting global positioning trackers inside their bales, in case they’re stolen.

via Missouri Farmers Fight Rise In Hay Thefts « CBS St. Louis.

Everyday Anarchy – The Complete Book from Freedomain Radio – YouTube

Freedomain Radio is the largest and most popular philosophy show on the web – http://www.freedomainradio.com

Everyday Anarchy

by Stefan Molyneux from Freedomain Radio, at freedomainradio.com

INTRODUCTION

It’s hard to know whether a word can ever be rehabilitated — or whether the attempt should even be made.

Words are weapons, and can be used like any tools, for good or ill. We are all aware of the clichéd uses of such terms as “terrorists” versus “freedom fighter” etc. An atheist can be called an “unbeliever”; a theist can be called “superstitious.” A man of conviction can be called an “extremist”; a man of moderation “cowardly.” A free spirit can be called a libertine or a hedonist; a cautious introvert can be labeled a stodgy prude.

Words are also weapons of judgment — primarily moral judgment. We can say that a man can be “freed” of sin if he accepts Jesus; we can also say that he can be “freed” of irrationality if he does not. A patriot will say that a soldier “serves” his country; others may take him to task for his blind obedience. Acts considered “murderous” in peacetime are hailed as “noble” in war, and so on.

Some words can never be rehabilitated — and neither should they be. Nazi, evil, incest, abuse, rape, murder — these are all words which describe the blackest impulses of the human soul, and can never be turned to a good end. Edmund may say in King Lear, “Evil, be thou my good!” but we know that he is not speaking paradoxically; he is merely saying “that which others call evil — my self-interest — is good for me.”

The word “anarchy” may be almost beyond redemption — any attempt to find goodness in it could well be utterly futile — or worse; the philosophical equivalent of the clichéd scene in hospital dramas where the surgeon blindly refuses to give up on a clearly dead patient.

Perhaps I’m engaged in just such a fool’s quest in this little book. Perhaps the word “anarchy” has been so abused throughout its long history, so thrown into the pit of incontestable human iniquity that it can never be untangled from the evils that supposedly surround it.

What images spring to mind when you hear the word “anarchy”? Surely it evokes mad riots of violence and lawlessness — a post-apocalyptic Darwinian free-for-all where the strong and evil dominate the meek and reasonable. Or perhaps you view it as a mad political agenda, a thin ideological cover for murderous desires and cravings for assassinations, where wild-eyed, mustachioed men with thick hair and thicker accents roll cartoon bombs under the ornate carriages of slowly-waving monarchs. Or perhaps you view “anarchy” as more of a philosophical specter; the haunted and angry mutterings of over-caffeinated and seemingly-eternal grad students; a nihilistic surrender to all that is seductive and evil in human nature, a hurling off the cliff of self-restraint, and a savage plunge into the mad magic of the moment, without rules, without plans, without a future…

If your teenage son were to come home to you one sunny afternoon and tell you that he had become an anarchist, you would likely feel a strong urge to check his bag for black hair dye, fresh nose rings, clumpy mascara and dirty needles. His announcement would very likely cause a certain trapdoor to open under your heart, where you may fear that it might fall forever. The heavy syllables of words like “intervention,” “medication,” “boot camp,” and “intensive therapy” would probably accompany the thudding of your quickened pulse.

All this may well be true, of course — I may be thumping the chest of a broken patient long since destined for the morgue, but certain… insights, you could say, or perhaps correlations, continue to trouble me immensely, and I cannot shake the fear that it is not anarchy that lies on the table, clinging to life — but rather, the truth.

I will take a paragraph or two to try and communicate what troubles me so much about the possible injustice of throwing the word “anarchy” into the pit of evil — if I have not convinced you by the end of the next page that something very unjust may be afoot, then I will have to continue my task of resurrection with others, because I do not for a moment imagine that I would ever convince you to call something good that is in fact evil.

And neither would I want to…

Anti-Tax Crusader Grover Norquist | The Diane Rehm Show from WAMU and NPR

Tax policy has never been easy — for politicians to agree on or for Americans who are not accounting experts to understand. Now we have the so-called fiscal cliff looming over the nation, and the Obama administration and Republican leaders are at a stalemate on how to avert it. Anti-tax crusader Grover Norquist has played an outsized role in the debate. Most Republican members of the current Congress have signed Norquist’s anti-tax pledge. But with November elections over and the fiscal cliff just weeks away, some pledge-signers have begun to waver. Grover Norquist of Americans for Tax Reform joins Diane to talk about one of life’s two certainties: taxes.

Guests

Grover Norquist president of Americans for Tax Reform.

Rep. Chris Van Hollen Democrat of Maryland and ranking Democrat on the House Budget Committee.

Rep. Ted Yoho Republican congressman-elect of Florida.

Video: Inside The Studio

Grover Norquist, president of Americans for Tax Reform, talked about the so-called fiscal cliff and his no-tax pledge. Norquist said President Barack Obama’s proposal to avoid the fiscal cliff is “unserious,” and he proposed broadcasting the negotiations on C-SPAN. “I think he’s trying to take us off the cliff and blame other people,” Norquist said about Obama. About the public negotiation, Maryland Rep. Chris Van Hollen replied, “It would be good if Speaker [John] Boehner actually put his plan on paper like the president has so the public can see what it is.” Norquist also responded to a listener’s question about why he continues to refer to policies enforced under President Ronald Reagan’s administration, even though more than 30 years have since passed since Reagan was president.

via Anti-Tax Crusader Grover Norquist | The Diane Rehm Show from WAMU and NPR.

Cops to Congress: We need logs of Americans’ text messages | Politics and Law – CNET News

State and local law enforcement groups want wireless providers to store detailed information about your SMS messages for at least two years — in case they’re needed for future criminal investigations.

via Cops to Congress: We need logs of Americans’ text messages | Politics and Law – CNET News.

Surgery Center of Oklahoma

Surgery Center of Oklahoma.

The Surgery Center of Oklahoma is a 32,535 square foot, state-of-the-art multispecialty facility in Oklahoma City, owned and operated by approximately 40 of the top surgeons and anesthesiologists in central Oklahoma. The facility has been accredited by the AAAHC since 1998 without interruption and has annually provided care to thousands of patients.

If you have a high deductible or are part of a self-insured plan at a large company, you owe it to yourself or your business to take a look at our facility and pricing which is listed on this site. If you are considering a trip to a foreign country to have your surgery, you should look here first. Finally, if you have no insurance at all, this facility will provide quality and pricing that we believe are unmatched.

It is no secret to anyone that the pricing of surgical services is at the top of the list of problems in our dysfunctional healthcare system. Bureaucracy at the insurance and hospital levels, cost shifting and the absence of free market principles are among the culprits for what has caused surgical care in the United States to be cost prohibitive. As more and more patients find themselves paying more and more out of pocket, it is clear that something must change. We believe that a very different approach is necessary, one involving transparent and direct pricing.

Transparent, direct, package pricing means the patient knows exactly what the cost of the service will be upfront. Fees for the surgeon, anesthesiologist and facility are all included in one low price. There are no hidden costs, charges or surprises.

The pricing outlined on this website is not a teaser, nor is it a bait-and-switch ploy. It is the actual price you will pay. We can offer these prices because we are completely physician-owned and managed. We control every aspect of the facility from real estate costs, to the most efficient use of staff, to the elimination of wasteful operating room practices that non-profit hospitals have no incentive to curb. We are truly committed to providing the best quality care at the lowest possible price.