Thursday, July 5, 2012

Forget's ObamaTAXES

H/T Johnny T

The ObamaTAX that we all face now because of the SCOTUS ruling, is actually more than a tax on those who fail to purchase insurance it's more like 21 New or Higher Taxes.

According to an article in the Economic Policy Journal the impact of Obamacare is far more reaching.

21 New or Higher Taxes include:

1. Individual Mandate Excise Tax (Jan 2014): Starting in 2014, anyone not buying “qualifying” health insurance must pay an income surtax

2. 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.

3. Surtax on Investment Income ($123 billion/Jan. 2013)

4. Excise Tax on Comprehensive Health Insurance Plans ($32 bil/Jan 2018)

5. Hike in Medicare Payroll Tax ($86.8 bil/Jan 2013)

6. Medicine Cabinet Tax ($5 bil/Jan 2011)

7. HSA Withdrawal Tax Hike ($1.4 bil/Jan 2011)

8. Flexible Spending Account Cap – aka“Special Needs Kids Tax” ($13 bil/Jan 2013)

9. Tax on Medical Device Manufacturers ($20 bil/Jan 2013)

And it gets worse. Read the rest of the list with details and explanations HERE.

So the next time someone tells you that Obamacare is ONLY a tax on the deadbeats who refuse to purchase insurance, tell them they don't know what they're talking about and send them here.

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leighrow said...

Thanks for posting this. Most people think there is only one tax or penalty,and there are actually 21 taxes.

If Romney's campaign was on the ball,they would have responded with the Obama plan could be considered both,a penalty plus 20 taxes that directly impact the middle class. The Romney campaign really needs to shift focus to these 20 plus taxes.

kelly said...

Why isn't Fox News and the conservative pundits all over this?