Monday, October 1, 2012


The following is synopsized from an article at Americans for Tax Reform, Posted by John Kartch

Of the twenty new or higher taxes in Obamacare, below are the five worst that will be foisted upon Americans for the first time on January 1, 2013:

The Obamacare Medical Device Tax – a $20 billion tax increase: Medical device manufacturers employ 409,000 people in 12,000 plants across the country. Obamacare imposes a new 2.3 percent excise tax on gross sales. This will increase the cost of your health care – making everything from pacemakers to prosthetics more expensive.

The Obamacare “Special Needs Kids Tax” – a $13 billion tax increase: The 30-35 million Americans who use a Flexible Spending Account (FSA) at work to pay for their family’s basic medical needs will face a new government cap of $2,500 (currently the accounts are unlimited under federal law, though employers are allowed to set a cap).

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 several million families with special needs children in the United States, and many of them use FSAs to pay for special needs education. This Obamacare tax provision will limit the options available to these families.

The Obamacare Surtax on Investment Income – a $123 billion tax increase: This is a new, 3.8 percentage point surtax on investment income earned in households making at least $250,000 ($200,000 single).

The Obamacare “Haircut” for Medical Itemized Deductions – a $15.2 billion tax increase: This tax increase imposes a threshold of 10 percent of AGI. By limiting this deduction, Obamacare widens the net of taxable income for the sickest Americans. This tax provision will most harm near retirees and those with modest incomes but high medical bills.

The Obamacare Medicare Payroll Tax Hike -- an $86.8 billion tax increase: The Medicare payroll tax is currently 2.9 percent on all wages and self-employment profits.  This is a direct marginal income tax hike on small business owners, who are liable for self-employment tax in most cases.


Radical Redneck said...

2013 is just around the corner , and that’s when the Tax Man cometh to police you on Obamacare
King BO was caught lying again when he pledged “No family making less than $250,000 a year will see any form of tax increase.” Obama also said throughout the health-care law discussion in Congress, as did Nancy Pelosi and the Democrats, this is not a tax, that this mandate is not a tax on individuals.
Psychologists tell us that 4% of the population are sociopaths, so maybe these are the 4% that the pollsters are tell us about when they say Obama is 4% ahead of Romney. In addition, What I find amusing (not really amusing) is how the progressives/ liberals of our country, including and especially Barack Hussein Obama, and the Queen of progressive bloggers have been relentlessly accusing George w. Bush of getting our country into this mess that he is responsible for. And no matter what Herr Obama says these Progressives are right there agreeing with him. If he said the sky was green, the Leftist Creeps would agree with him.
.Literally no one is in charge of this country. Hillary, Michelle the Food Police Commissar, and Jarrett have more to say and do than the Messiah himself. .
Mooshelle doesn’t have a degree in nutrition, she was not elected or appoint to anything, so she has no authority to tell the voters in the USA how to feed their children or themselves. She along with her husband have a HUGE ego and they are under the false assumption he was appointed king of the USA. Mooshelle doesn’t seem to have a problem strapping on her feedbag anytime she and Liar-n-chief go by a fast food restaurant!! But she gets angry and lecture a 16 year old gold medal gymnast for eating an Egg McMuffin!

Lone Ranger said...

In Michelle's defense, she did once work at a hospital -- steering poor and uninsured people to other hospitals. So I guess that's sort of a medical background.

Anita Davis said...

I'm not impressed by Michelle or by anything she may have done before of after her marriage to Barack Hussein.

No, I’m Just Not Impressed!