Tag Archives: facts

File Taxes For ObamaCare – Obamacare Facts #www.income #tax #refund #status

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File Taxes For ObamaCare

If your year end income exceeds 400% FPL, you will have to return the total amount of Advanced Premium Tax Credits you received.

NOTE. It s important to verify your income and report changes in circumstances throughout the year. If your income changed, you may end up receiving too much or too little in advance. This can affect your refund or balance due when you file your 2014 tax return in 2015. Advanced Tax Credits are given based on projected income, you ll adjust this using your actual Modified Adjusted Gross Income when you do your taxes. Given subsidies are based on projected income, and then are adjusted for actual income, as many as half of recipients will be adjusting credits for actual MAGI.

If you choose to get it now (Advanced Premium Tax Credits): When you file your tax return, you will subtract the total advance payments you received during the year from the actual Premium Tax Credit calculated on your tax return. If the Premium Tax Credit computed on the return is more than the advance payments made on your behalf during the year, the difference will increase your refund or lower the amount of tax you owe. If the advance credit payments are more than your actual Premium Tax Credit, the difference will increase the amount you owe and result in either a smaller refund or a balance due. This is an attractive, but risky move. Owing money at the end of the year for something you already had stings a bit. Of course tax credits are based on income, so if it was calculated correctly upfront, you ll only owe significant amounts of money if you increase your household income significantly.

If you choose to get it later (Premium Tax Credit): You will claim the full amount of your actual Premium Tax Credit when you file your tax return. This will either increase your refund or lower your balance due. This is the safer move. As attractive as an up-front credit is, saving money on taxes is a lot more exciting then owing back money.

Learn more from the IRS .

FACT. H R Block estimates that up to one half of the approximately 6.8 million taxpayers who got subsidies in 2014 may have to send money back to the government. The ratios are so exact, you ll owe money or be owed money for any variation in income. So, the other half are likely to be owed money, with even fewer who will make no adjustments.

EXAMPLE: A single individual in 2014 who projected to make $20,422 (175% of the Federal Poverty Level) and chose to received the full amount of Advanced Premium Tax Credit. At the end of the year this individual actually earned $20,656 (177% of the Federal Poverty Level) and will have to repay a small amount of money when filing taxes. That amount will be a small fraction of the additional $234 made during the year.

Either way, it ll be important to adjust tax credits each year, both on your taxes and through the marketplace, to ensure you get the assistance you deserve, not more or less. Keep in mind H R Block is an accounting service that will most likely see a giant boom in businesses under the ACA.

Adjusting for Other ObamaCare Subsidies

If you got Cost Sharing Reduction (CSR) subsidies or Medicaid, but your income increased, and as a result, disqualified you from part of the assistance or the full amount, you will have to report this on your taxes. Unlike Premium Tax Credits, Medicaid and Cost Sharing Reduction subsidies do not have to be paid back. This may be an advantage for those whose yearly incomes vary slightly, but are consistently on the edge of the Cost Sharing Reduction subsidy income thresholds, especially if the full Premium Tax Credit offered is NOT taken in advance. See our Federal Poverty Level page to see where your income falls.

For most people, however, it is still important to report changes to income and family status to the Marketplace, so that changes to your Advanced Premium Tax Credits can be made when they happen.

Reporting ObamaCare for Small Businesses

Most businesses will simply defer tax filing duties to their accountant. Small businesses who received a tax credit for health insurance and will be filing themselves should go to IRS.gov for detailed filing information.

Tax credits for small businesses are available retroactively since 2010, although some restrictions apply. So, if you didn t claim your tax credits in past years, you can still claim them.

In order to claim the tax credit for Small Business health insurance premiums, you ll need to use a Form 8941 to calculate the credit. For detailed information on filling out this form, see the Instructions for Form 8941. If you are a tax-exempt organization, include the amount on line 44f of the Form 990-T. You must file the Form 990-T in order to claim the credit, even if you don t ordinarily do so.

If your business is eligible for the SHOP you can claim your tax credit there, but you ll still need to fill out Form 8941.

If you are a small business, include the tax credit amount as part of the general business credit on your income tax return.

Reporting ObamaCare Taxes for High Earners

Anyone in a higher tax bracket should know that there are other taxes which apply to them. Like with businesses, most folks in higher tax brackets will have the help of an accountant. Please see our section on ObamaCare taxes to learn about taxes that may affect you, like the new Medicare tax on investment income.

Don t forget, large businesses who are required to provide coverage, must report coverage status of employees and must make a Employer Responsibility Payment. The amount of the payment depends upon whether the employee used Marketplace cost assistance or not. See employer mandate for more details.

Other ObamaCare Tax Return Forms

See our complete list of Obamacare related forms closer to the top of this page. Here you can find other less common forms related to healthcare and the ACA.

Other Tax Form Examples Regarding the ACA in 2014 will be added below:

We will provide screen shots, additional forms, and further advice as we learn more related to the ACA and taxes. When in doubt we suggest referring to HealthCare.Gov. the IRS.Gov. or a local accountant.


Efile Michigan Income Tax Return-MI Tax Forms, Refund, Facts #mortgage #income #protection

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Michigan Income Taxes and State Tax Forms

Prepare and efile Your Michigan Tax Return

The efile.com tax software makes it easy for you to efile your state tax return and use the correct state tax forms. Prepare and efile your Michigan state tax return and Federal tax return together or separately at efile.com. View the federal tax return filing requirements .

MI Income Tax Filing Deadline

The regular deadline to file a Michigan state income tax return is April 15.

Tax Deadline Date

Type of Income Tax Return

Filing Deadline / Due Date Description

2015 Michigan State Tax Return

Due date for Michigan State Income Tax Returns – income tax filing deadline

2015 Michigan State Tax Extension

Due date for Michigan extension requests (federal extensions are honored)

October 18, 2016

2015 Michigan State Tax Return

Last day to efile a 2015 Michigan State Income Tax Return for tax extension filers and late efilers

Michigan State Tax Forms

All of the following Michigan state tax forms are supported by the efile.com software. You can file any of these forms, plus forms for any other states, for one price on efile.com:

Michigan honors federal tax extensions, so you may use a copy of your Form 4868 to get an automatic 6-month extension of time to file your state return. If you owe no state tax, you do not need to file a Michigan state extension or send a copy of your federal extension to the state.

If you owe Michigan state tax and you did not get a federal extension, you may get an automatic 6-month (180-day) extension of time to file your state return by filling out Form 4 and mailing it to the address on the form. But you must pay any taxes you owe by the original deadline, so include a check or money order with your extension. Otherwise, you will accrue penalties and interest on the unpaid amount. If you owe taxes and you are not including a payment, your extension request will not be honored.

Complete and submit Form 4

Important Reminder! If you are efiling a Michigan tax extension, you may need to efile a federal tax extension as well.

MI Tax Amendment

Michigan state tax amendments cannot be efiled; they can only be filed by mail. Learn how to prepare and file an amended Michigan tax return.

Important Reminder! If you are filing a Michigan tax amendment, you may need to file a federal tax amendment as well.

2014 Michigan Tax Forms

Michigan state tax returns for 2014 and other previous Tax Years cannot be efiled. Download the tax forms, complete them, and mail them to the Michigan Department of Treasury.

Where s My Refund? – Check Your MI State Tax Refund Status

Using efile and direct deposit is the fastest way to get your Michigan state tax refund. If you efile a Michigan tax return, your refund will generally be processed within 2 weeks. Allow at least 6 weeks if you filed a paper return.

MI efile Error Codes

Pay Michigan State Taxes

You can pay your Michigan state income taxes by phone by calling the MI Collection Division at 1-517-636-5265. Have your bank information available: your financial institution s 9 digit routing number (on the bottom left corner of your personal checks) and your checking/savings account number. For payment arrangements, call the MI Customer Contact Center at 517-636-4486.

Michigan Tax Facts

MI Income Tax:

Michigan has a flat 4.25% income tax rate.

Many cities in Michigan levy additional income taxes at flat rates ranging from 1% to 2.5% (for Detroit).

MI Sales Tax:

Michigan has a 6% state sales tax rate and does not allow local sales taxes.

MI Personal Property Tax:

In Michigan, real estate and tangible personal property are taxed at the local level.

MI Tax Fact:

Michigan was the first state to guarantee each child the right to a tax-paid high school education.

State Tax Agency:

For more information, you can visit the website of the Michigan Department of Treasury .


Efile Ohio Income Return-OH Tax, Forms, Refund Status, Facts #income #protection #plans

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#income tax refund status

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Ohio Income Taxes and State Tax Forms

Prepare and efile Your Ohio Tax Return

The efile.com tax software makes it easy for you to efile your state tax return and use the correct state tax forms. Prepare and efile your Ohio state tax return (resident, nonresident, or part-year resident) and Federal tax return together or separately at efile.com (view the federal tax return filing requirements ). You can prepare and efile as many state tax returns as you need for one price.

Ohio Income Tax Filing Deadline

The regular deadline to file an Ohio state income tax return is April 15.

Tax Deadline Date

Type of Income Tax Return

Filing Deadline / Due Date Description

2015 Ohio State Tax Return

Due date for Ohio State Income Tax Returns – income tax filing deadline

Due date for Ohio extension requests and automatic extensions

October 17, 2016

Last day to efile a 2015 Ohio State Income Tax Return for tax extension filers and late efilers

Ohio honors federal tax extensions, and grants an additional 6 months to file a state tax return if you received a federal extension. Ohio does not have its own form for tax extensions, so you must get a federal extension to get an Ohio state extension.

If you file on paper, you should attach to the Ohio income tax return either a copy of your extension, your extension confirmation number, or a printed copy of the federal acknowledgment.

This is not an extension of time to pay tax (certain military personnel may have an additional extension to file and pay). If you owe state tax, you must still pay the amount due by April 18, 2016 or you will owe penalties and interest on the unpaid amount. Use Ohio Form IT-40P to make extension payments.

Complete and submit a federal extension

Important Reminder! If you are efiling an Ohio tax extension, you may need to efile a federal tax extension as well.

OH Tax Amendment

Ohio tax amendments can only be filed by mailed; they cannot be efiled. Learn how to prepare and file an amended Ohio state tax return.

Important Reminder! If you are filing an Ohio tax amendment, you may need to file a federal tax amendment as well.

2014 Ohio Tax Forms

Ohio tax returns for 2014 cannot be prepared and filed online. Download the tax forms, fill them out, print them, and mail them to the Ohio Department of Taxation.


Efile Pennsylvania Tax Return-PA Tax Forms, Refund, Facts #it #return #e #filing

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Pennsylvania Taxes and PA State Income Tax Forms

Prepare and efile Your Pennsylvania Tax Return

The efile.com tax software makes it easy for you to prepare efile your PA taxes online. All Pennsylvania state tax forms are available for you to prepare and efile. You can use efile.com to prepare and efile your Pennsylvania state tax return (whether you are a resident, nonresident, or part-year resident) together with your federal tax return, or to simply prepare and efile your state and federal returns separately. When done, efile.com will provide you your federal and state filing status. Should you have to make any corrections, efile.com will provide you instructions on how to correct your PA income tax return.

Pennsylvania Income Tax Filing Deadlines

The regular deadline to file a Pennsylvania state income tax return is April 15.

Tax Deadline Date

Type of Income Tax Return

Filing Deadline / Due Date Description

2015 Pennsylvania State Tax Return

Due date for Pennsylvania State Income Tax Returns – income tax filing deadline

2015 Pennsylvania State Tax Extension

Due date for Pennsylvania extension requests and automatic extensions

October 17, 2016

2015 Pennsylvania State Tax Return

Last day to efile a 2015 Pennsylvania State Income Tax Return for tax extension filers and late efilers

PA State Tax Forms

Pennsylvania honors federal tax extensions if you owe no state tax. If you got a federal extension and you do not owe Pennsylvania tax, then you do not have to file any state or federal extension form to get an automatic 6-month extension of time to file your state return. The extended filing deadline is October 17, 2016.

If you do owe state tax or you did not file a federal extension, you can get an automatic 6-month extension of time to file a state return by filing PA Form REV-276. If you owe state tax, you must still pay the amount due by April 18, 2016 or you will begin to accrue penalties and interest on the unpaid amount. Furthermore, if you owe state tax, you must include a payment with your Form REV-276. You can also file for an extension and pay your taxes online with the PA Department of Revenue agency website.

Complete Form REV-276 if you owe tax or did not file federal extension

Important Reminder! If you are efiling a Pennsylvania tax extension, you may need to efile a federal tax extension as well.

PA Tax Amendment

Amended Pennsylvania state tax returns cannot be efiled; they can only be filed by mail. Learn how to prepare and file a Pennsylvania tax amendment.

Important Reminder! If you are filing a Pennsylvania tax amendment, you may need to file a federal tax amendment as well.

2014 Pennsylvania Tax Forms

Pennsylvania tax returns for 2014 cannot be efiled. Download the tax forms, fill them out, print them, and mail them to the Pennsylvania Department of Revenue.


Efile Maryland Income Tax Return-MD Tax Facts, Forms, Refund #income #tax #return #file

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#income tax return forms

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Maryland Income Taxes and State Tax Forms

Prepare and efile Your Maryland Tax Return

The efile.com tax software makes it easy for you to efile your state tax return and use the correct state tax forms. Prepare and efile your Maryland state tax return (resident, nonresident, or part-year resident) and Federal tax return together or separately at efile.com. View the federal tax return filing requirements .

MD Income Tax Filing Deadline

The regular deadline to file a Maryland state income tax return is April 15.

Tax Deadline Date

Type of Income Tax Return

Filing Deadline / Due Date Description

2015 Maryland State Tax Return

Due date for Maryland State Income Tax Returns – income tax filing deadline

2015 Maryland State Tax Extension

Due date for Maryland extension requests (federal extensions are honored if no tax is owed)

October 17, 2016

2015 Maryland State Tax Return

Last day to efile a 2015 Maryland State Income Tax Return for tax extension filers and late efilers

Maryland State Tax Forms

All of the following Maryland state tax forms are supported by the efile.com software:

Form 502E (if you owe state tax)

If you already got a federal extension from the IRS and you do not owe Maryland state tax, you receive an automatic six-month extension to file your Maryland state tax return. In this case, you do not have to fill out any additional forms.

If you owe no tax and you did not request a federal extension, you can get an automatic 6-month state extension online with the state or by calling 410-260-7829 from Central Maryland, or 800-260-3664 from everywhere else.

If you owe state tax and you need an extension of time to file, you must file Form 502E by April 18, 2016 and enclose a check or money order for the amount you expect to owe. You can also pay by credit card. If you owe Maryland state tax, you can only get an extension of time to file if you are making a payment with your extension request. You will accrue penalties and interest on any amount left unpaid after April 18, 2016

Complete and submit Form 502E (if you owe state tax)

Important Reminder! If you are efiling a Maryland tax extension, you may need to efile a federal tax extension as well.

MD Tax Amendment

Maryland state tax amendments cannot be efiled; they can only be filed by mail. Learn how to prepare and file an amended Maryland state tax return.

Important Reminder! If you are filing a Maryland tax amendment, you may need to file a federal tax amendment as well.

2014 Previous Year Maryland Tax Forms

Maryland tax returns for 2014 and other past Tax Years cannot be prepared and filed online. Download the tax forms, complete them, and mail them to the Comptroller of Maryland.


File Taxes For ObamaCare – Obamacare Facts #income #tax #return #forms

by ,

#minimum income to file taxes

#

File Taxes For ObamaCare

If your year end income exceeds 400% FPL, you will have to return the total amount of Advanced Premium Tax Credits you received.

NOTE. It s important to verify your income and report changes in circumstances throughout the year. If your income changed, you may end up receiving too much or too little in advance. This can affect your refund or balance due when you file your 2014 tax return in 2015. Advanced Tax Credits are given based on projected income, you ll adjust this using your actual Modified Adjusted Gross Income when you do your taxes. Given subsidies are based on projected income, and then are adjusted for actual income, as many as half of recipients will be adjusting credits for actual MAGI.

If you choose to get it now (Advanced Premium Tax Credits): When you file your tax return, you will subtract the total advance payments you received during the year from the actual Premium Tax Credit calculated on your tax return. If the Premium Tax Credit computed on the return is more than the advance payments made on your behalf during the year, the difference will increase your refund or lower the amount of tax you owe. If the advance credit payments are more than your actual Premium Tax Credit, the difference will increase the amount you owe and result in either a smaller refund or a balance due. This is an attractive, but risky move. Owing money at the end of the year for something you already had stings a bit. Of course tax credits are based on income, so if it was calculated correctly upfront, you ll only owe significant amounts of money if you increase your household income significantly.

If you choose to get it later (Premium Tax Credit): You will claim the full amount of your actual Premium Tax Credit when you file your tax return. This will either increase your refund or lower your balance due. This is the safer move. As attractive as an up-front credit is, saving money on taxes is a lot more exciting then owing back money.

Learn more from the IRS .

FACT. H R Block estimates that up to one half of the approximately 6.8 million taxpayers who got subsidies in 2014 may have to send money back to the government. The ratios are so exact, you ll owe money or be owed money for any variation in income. So, the other half are likely to be owed money, with even fewer who will make no adjustments.

EXAMPLE: A single individual in 2014 who projected to make $20,422 (175% of the Federal Poverty Level) and chose to received the full amount of Advanced Premium Tax Credit. At the end of the year this individual actually earned $20,656 (177% of the Federal Poverty Level) and will have to repay a small amount of money when filing taxes. That amount will be a small fraction of the additional $234 made during the year.

Either way, it ll be important to adjust tax credits each year, both on your taxes and through the marketplace, to ensure you get the assistance you deserve, not more or less. Keep in mind H R Block is an accounting service that will most likely see a giant boom in businesses under the ACA.

Adjusting for Other ObamaCare Subsidies

If you got Cost Sharing Reduction (CSR) subsidies or Medicaid, but your income increased, and as a result, disqualified you from part of the assistance or the full amount, you will have to report this on your taxes. Unlike Premium Tax Credits, Medicaid and Cost Sharing Reduction subsidies do not have to be paid back. This may be an advantage for those whose yearly incomes vary slightly, but are consistently on the edge of the Cost Sharing Reduction subsidy income thresholds, especially if the full Premium Tax Credit offered is NOT taken in advance. See our Federal Poverty Level page to see where your income falls.

For most people, however, it is still important to report changes to income and family status to the Marketplace, so that changes to your Advanced Premium Tax Credits can be made when they happen.

Reporting ObamaCare for Small Businesses

Most businesses will simply defer tax filing duties to their accountant. Small businesses who received a tax credit for health insurance and will be filing themselves should go to IRS.gov for detailed filing information.

Tax credits for small businesses are available retroactively since 2010, although some restrictions apply. So, if you didn t claim your tax credits in past years, you can still claim them.

In order to claim the tax credit for Small Business health insurance premiums, you ll need to use a Form 8941 to calculate the credit. For detailed information on filling out this form, see the Instructions for Form 8941. If you are a tax-exempt organization, include the amount on line 44f of the Form 990-T. You must file the Form 990-T in order to claim the credit, even if you don t ordinarily do so.

If your business is eligible for the SHOP you can claim your tax credit there, but you ll still need to fill out Form 8941.

If you are a small business, include the tax credit amount as part of the general business credit on your income tax return.

Reporting ObamaCare Taxes for High Earners

Anyone in a higher tax bracket should know that there are other taxes which apply to them. Like with businesses, most folks in higher tax brackets will have the help of an accountant. Please see our section on ObamaCare taxes to learn about taxes that may affect you, like the new Medicare tax on investment income.

Don t forget, large businesses who are required to provide coverage, must report coverage status of employees and must make a Employer Responsibility Payment. The amount of the payment depends upon whether the employee used Marketplace cost assistance or not. See employer mandate for more details.

Other ObamaCare Tax Return Forms

See our complete list of Obamacare related forms closer to the top of this page. Here you can find other less common forms related to healthcare and the ACA.

Other Tax Form Examples Regarding the ACA in 2014 will be added below:

We will provide screen shots, additional forms, and further advice as we learn more related to the ACA and taxes. When in doubt we suggest referring to HealthCare.Gov. the IRS.Gov. or a local accountant.


Fast Facts #tax #filling

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#median income

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Income of young adults

Question:
What is the average income for young adults?

In 2014, some 67 percent of young adults ages 25�34 who were in the labor force worked full time, year round (i.e. worked 35 or more hours per week for 50 or more weeks per year). The percentage of young adults working full time, year round was generally higher for those with higher levels of educational attainment. For example, 73 percent of young adults with a bachelor’s degree worked full time, year round in 2014, compared with 65 percent of young adult high school completers (those with only a high school diploma or its equivalent).

Changes over time in the percentage of young adults in the labor force who worked full time, year round varied by level of educational attainment. From 2000 to 2014, the percentage of young adults without a high school credential (i.e. without a high school diploma or its equivalent) who worked full time, year round decreased from 59 to 55 percent. The corresponding percentage for young adults with an associate’s degree decreased from 71 to 66 percent. In contrast, the percentage of young adults with a master’s or higher degree who worked full time, year round increased from 70 to 74 percent during the same period. However, from 2000 to 2014 the percentages of young adult high school completers and young adults with a bachelor’s degree who worked full time, year round did not change measurably. Between 2013 and 2014, the percentages of young adults working full time, year round did not change measurably for most levels of educational attainment. The one exception was the percentage of young adult high school completers who worked full time, year round, which was higher in 2014 (65 percent) than in 2013 (62 percent).

For young adults ages 25�34 who worked full time, year round, higher educational attainment was associated with higher median earnings; this pattern was consistent from 2000 through 2014. For example, in 2014 the median earnings of young adults with a bachelor’s degree ($49,900) were 66 percent higher than the median earnings of young adult high school completers ($30,000). The median earnings of young adult high school completers were 20 percent higher than the median earnings of those without a high school credential ($25,000). In addition, median earnings of young adults with a master’s or higher degree were $59,100 in 2014, some 18 percent higher than the median earnings of young adults with a bachelor’s degree. This pattern of higher earnings associated with higher levels of educational attainment also held for both male and female young adults as well as for White, Black, Hispanic, and Asian young adults.

Percentage of the labor force ages 25�34 who worked full time, year round, by educational attainment: 2000�2014

1 Includes equivalency credentials, such as the General Educational Development (GED) credential.

NOTE:Full-time, year-round workers are those who worked 35 or more hours per week for 50 or more weeks per year.

SOURCE: U.S. Department of Education, National Center for Education Statistics. (2016). The Condition of Education 2016 (NCES 2016-144), Annual Earnings of Young Adults .

Related Tables and Figures: (Listed by Release Date)

Other Resources: (Listed by Release Date)


Childhood Obesity Facts #income #tax #return #definition

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#income statistics

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Childhood Obesity Facts

Prevalence of Childhood Obesity in the United States, 2011-2012

Childhood obesity is a serious problem in the United States. Despite recent declines in the prevalence among preschool-aged children, obesity among children is still too high. For children and adolescents aged 2-19 years, the prevalence of obesity has remained fairly stable at about 17% and affects about 12.7 million children and adolescents for the past decade. [Read abstract Journal of American Medical Association (JAMA) ]

  • Approximately 17% (or 12.7 million) of children and adolescents aged 2—19 years are obese
  • The prevalence of obesity among children aged 2 to 5 years decreased significantly from 13.9% in 2003-2004 to 8.4% in 2011-2012.

In 2011-2012, 8.4% of 2- to 5-year-olds had obesity compared with 17.7% of 6- to 11-year-olds and 20.5% of 12- to 19-year-olds.Childhood obesity is also more common among certain racial and ethnic groups.

  • In 2011-2012, the prevalence among children and adolescents was higher among Hispanics (22.4%) and non-Hispanic blacks (20.2%) than among non-Hispanic whites (14.1%).
  • The prevalence of obesity was lower in non-Hispanic Asian youth (8.6%) than in youth who were non-Hispanic white, non-Hispanic black or Hispanic.

Note: In children and adolescents age 2 to 19 years, obesity was defined as a body mass index (BMI) at or above the 95th percentile of the sex-specific CDC BMI-for-age growth charts.

Childhood obesity is associated with adult head of household’s education level for some children

[Read the report Obesity–United States 1999–2010, in MMWR ]

  • Obesity prevalence differs among racial/ethnic groups and also varies by age, sex, and adult head of household’s and education level.
  • Overall, obesity prevalence among children whose adult head of household completed college was approximately half that of those whose adult head of household did not complete high school (9% vs 19% among girls; 11% vs 21% among boys) in 1999–2010.
  • Among non-Hispanic white children, the lowest prevalence of obesity was observed among those whose adult head of household completed college; however, this was not the case for non-Hispanic black children.
  • Over time, the prevalence of obesity among girls whose adult head of household had not finished high school increased from 17% (1999–2002) to 23% (2007–2010), but decreased for girls whose adult head of household completed college from 11% (1999–2002) to 7% (2007–2010). There was not a similar finding among boys.

Childhood obesity among preschoolers is more prevalent among those from lower-income families

  • The prevalence of obesity among children aged 2–4 years from low-income households in 2011 varied by levels of income-to-poverty ratio,* which is a measure of household income.
  • Obesity prevalence was the highest among children in families with an income-to-poverty ratio of 100% or less (household income that is at or below the poverty threshold), followed by those in families with an income-to-poverty ratio of 101%–130%, and then found to be lower in children in families with an income-to-poverty ratio of 131% or larger (greater household income).
  • Obesity prevalence on the basis of family income among children from low-income households was:
    • 14.2% among children in families with an income-to-poverty ratio of less than or equal to 50%.
    • 14.5% among children in families with an income-to-poverty ratio of 51–100%.
    • 13.4% among children in families with an income-to-poverty ratio of 101–130%.
    • 12.4% among children in families with an income-to-poverty ratio of 131–150%.
    • 11.8% among children in families with an income-to-poverty ratio of 151-185%.
  • There were differences in state-level childhood obesity estimates by income-to-poverty ratio (refer to table).

* Income-to-poverty ratios reflect family income in relation to poverty threshold. The poverty level varies by family size, the number of related children, and the age of the head of household, but not by state. For example, a family of four with two children and an annual income of $22,811 were at the poverty level in 2011. For income-to-poverty ratios less than 100%, the family income is lower than the poverty threshold. When the ratio equals 100%, the income and poverty level are the same, and when the ratio is greater than 100%, the income is higher than the poverty level. A ratio of 130% indicates that family income was 30% above the poverty level.

Note: Obesity prevalence was estimated by state and income-to-poverty ratio using information from the Pediatric Nutrition Surveillance System (PedNSS). PedNSS contained measured heights and weights, as well as other information from low-income children aged 2–4 years. The source of the PedNSS data was from federally funded maternal and child health and nutrition programs, with data primarily collected through the Special Supplemental Nutrition Program for Women, Infants, and Children (WIC).

Obesity and extreme obesity rates decline among low-income preschool children

[Read Journal of American Medical Association (JAMA) study highlights (PDF – 143 KB) ]
[Read article Journal of American Medical Association (JAMA) ]

  • Obesity and extreme obesity* among US low-income, preschool-aged children went down for the first time in recent years.
  • From 2003 through 2010, the prevalence of obesity decreased slightly from 15.21% to 14.94%. Similarly, the prevalence of extreme obesity decreased from 2.22% to 2.07%.
  • However, from 1998 through 2003, the prevalence of obesity increased from 13.05% to 15.21%, and the prevalence of extreme obesity increased from 1.75% to 2.22%.
  • Extreme obesity decreased among all racial groups except American Indians/Alaska Natives. The greatest decreases were among and Asian/Pacific Islander children and 2-year-old children.

* A child’s weight status is determined using an age- and sex-specific percentile for BMI rather than the BMI categories used for adults because children’s body composition varies by age and sex. The weight status of children is defined on the basis of the sex-specific smoothed percentile curves for BMI-for-age in the 2000 CDC growth Charts. Extreme obesity is defined as a BMI at or above the 120% of the 95th percentile for children of the same age and sex. For example, a 3-year-old boy of average height who weighs more than 44 pounds would be classified as extremely obese.

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35 soul-crushing facts about American income inequality #fill #income #tax

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35 soul-crushing facts about American income inequality

This article originally appeared on AlterNet.

While Hillary Clinton occasionally gives some lip service to the problem of extreme inequality, Bernie Sanders is the only candidate really hammering away at it. He has even blasted the orthodoxy of economic growth for its own sake, saying according to Monday’s Washington Post that unless economic spoils can be redistributed to make more Americans’ lives better, all the growth will go to the top 1% anyway, so who needs it? Sanders might know his history, but the rest of the candidates could use a little primer.

The United States was not always the most powerful nation on Earth. It was only with the end of World War II, with the rest of the developed world in smoldering ruins, that America emerged as the free world’s leader. This coincided with the expansion of the U.S. middle class. With the other war combatants trying to recover from the destruction of the war, America became the supermarket, hardware store and auto dealership to the world. Markets for American products abounded and opportunity was everywhere for American workers of all economic means to get ahead. America had a virtual monopoly on rebuilding the world. Combined with the G.I. Bill of 1944, which provided money for returning veterans to go to college, and government loans to buy houses and start businesses, the middle class in America boomed, as did American power, wealth and prestige. Between 1946 and 1973, productivity in America grew by 104 percent. Unions led the way in assuring wages for workers grew by an equal amount.

The 1970s, however, brought a screeching halt to the expansion of the American middle class. The Arab oil embargo in 1973 marked the end of cheap oil and the beginning of the middle-class decline. The Iranian Revolution in 1979, with more resultant oil instability, combined with the rise of Ronald Reagan’s conservative revolution at home, accelerated the long and painful contraction of the middle class. Cuts in corporate taxes, stagnant worker wage growth, the right-wing war on unions, and corporate outsourcing of work overseas greased the wheels of the middle-class decline and the upper-class elevation. Cuts in taxes on the wealthy, under the guise of trickle-down economics, have resulted in lower government revenue and cuts to all kinds of services. All of which has led to today, an era of national and international inequality unparalleled since the days of the Roaring 20s.

Here are 35 astounding facts about inequality that will fry your brain.

1. In 81 percent of American counties, the median income, about $52,000, is less than it was 15 years ago. This is despite the fact that the economy has grown 83 percent in the past quarter-century and corporate profits have doubled. American workers produce twice the amount of goods and services as 25 years ago, but get less of the pie.

2. The amount of money that was given out in bonuses on Wall Street last year is twice the amount all minimum-wage workers earned in the country combined.

3. The wealthiest 85 people on the planet have more money that the poorest 3.5 billion people combined.

4. The average wealth of an American adult is in the range of $250,000-$300,000. But that average number includes incomprehensibly wealthy people like Bill Gates. Imagine 10 people in a bar. When Bill Gates walks in, the average wealth in the bar increases unbelievably, but that number doesn’t make the other 10 people in the bar richer. The median per adult number is only about $39,000, placing the U.S. about 27th among the world’s nations, behind Australia, most of Europe and even small countries like New Zealand, Ireland and Kuwait.

5. Italians, Belgians and Japanese citizens are wealthier than Americans .

6. The poorest half of the Earth’s population owns 1% of the Earth’s wealth. The richest 1% of the Earth’s population owns 46% of the Earth’s wealth.

7. More locally, the poorest half of the US owns 2.5% of the country’s wealth. The top 1% owns 35% of it.

8. Inequality is a worldwide problem. In the UK. doctors no longer occupy a place in the top 1% of income earners, London plays host to the largest congregation of Russian millionaires outside of Moscow, and also houses more ultra-rich people (defined as owning more than $30 million in assets outside of their home) than anywhere else on Earth.

9. The slice of the national income pie going to the wealthiest 1% of Americans has doubled since 1979.

10. The 1% also takes home 20% of the income. This figure is the most since the 1920s era of laissez faire government (under Republicans Warren Harding, Calvin Coolidge and Herbert Hoover).

11. The super rich .01% of America, such as Jamie Dimon, CEO of JP Morgan, take home a whopping 6% of the national income, earning around $23 million a year. Compare that to the average $30,000 a year earned by the bottom 90 percent of America.

12. The top 1% of America owns 50% of investment assets (stocks, bonds, mutual funds). The poorest half of America owns just .5% of the investments.

13. The poorest Americans do come out ahead in one statistic: the bottom 90% of America owns 73% of the debt.

14. Tax rates for the middle class have remained essentially unchanged since 1960. Tax rates on the highest earning Americans have plunged from an almost 70% tax rate in 1945 down to around 35% today. Corporate tax rates have dropped from 30 percent in the 1950s to under 10 percent today.

15. Since 1990, CEO compensation has increased by 300%. Corporate profits have doubled. The average worker s salary has increased 4%. Adjusted for inflation, the minimum wage has actually decreased .

16. CEOs in 1965 earned about 24 times the amount of the average worker. In 1980 they earned 42 times as much. Today, CEOs earn 325 times the average worker .

17. Wages, as a percent of the overall economy, have dropped to an historic low .

18. In a study of 34 developed countries, the United States had the second highest level of income inequality, ahead of only Chile.

19. Young people in the U.S. are getting poorer. The median wealth of people under 35 has dropped 68% since 1984. The median wealth of older Americans has increased 42%.

20. The average white American’s median wealth is 20 times higher ($113,000) than the average African American ($5,600) and 18 times the Hispanic American ($6,300).

21. America’s highest incomeinequality is located in the states surrounding Wall Street (New York City) and the oil-rich states.

22. Since 1979, high school dropouts have seen median weekly income drop by 22 percent. Ethnically, the highest dropout rates are among Hispanic and African American children.

23. In 1970, a woman earned about 60% of the amount a man earned. In 2005 a woman earned about 80% of what a man earned. Since 2005, there has been no change in that figure. African-American women earn just 64% of what a white male earns, and Hispanic women just 56%.

24. Over 20 percent of all American children live below the poverty line. This rate is higher than almost all other developed countries.

25. Union membership in the US is at an all-time low. about 11% of the workforce. In 1978, 40 percent of blue-collar workers were unionized. With that declining influence has come a concurrent decline in the real value of the minimum wage.

26. Four hundred Americans have more wealth. $2 trillion, than half of all Americans combined. That is approximately the GDP of Russia.

27. In 1946, a child born into poverty had about a 50 percent chance of scaling the income ladder into the middle class. In 1980, the chances were 40 percent. A child born today has about a 33 percent chance.

28. Despite massive tax cuts, corporations have not created new jobs in America. The job creators have been small new businesses that have not enjoyed the same huge tax breaks.

29. More than half of the members of the United States Congress, where laws are passed deciding how millionaires are taxed, are millionaires .

30. Twenty five of the largest corporations in America in 2010 paid their CEOs more money than they paid in taxes that year.

31. In the first decade of the 21st century, the U.S. borrowed $1 trillion in order to give tax cuts to households earning over $250,000.

32. In 1970, there were five registered lobbyists working on behalf of wealthy corporations for every one of the 535 members of Congress. Today there are 22 lobbyists per congressperson.

33. In 1962, the 1% household median wealth was 125 times the average median wealth. In 2010 the divide was 288 times.

34. During the Great Recession, the average wealth of the 1% dropped about 16 percent. Meanwhile the wealth of the 99% dropped 47 percent.

35. Between 1979 and 2007, the wages of the top 1% rose 10 times more than the bottom 90 percent.


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