RSSTop Five Worst Obamacare Taxes Coming in 2013 of the 20 New or Higher Taxes in Obamacare
Of the twenty new or higher taxes in Obamacare, below are the five worst Obamacare taxes that will be foisted upon Americans for the first time on January 1, 2013.
Full pdf format HERE.
1. The Obamacare Medical Device Tax – a $20 billion tax increase: This 2.3 percent tax on medical device makers will raise the price of (for example) every pacemaker, prosthetic limb, stent, and operating table. Can you remind us, Mr. President, how taxing medical devices will reduce the cost of health care?
2. 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).
3. 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).
4. The Obamacare “Haircut” for Medical Itemized Deductions – a $15.2 billion tax increase: Currently, those Americans facing high medical expenses are allowed a deduction to the extent that those expenses exceed 7.5 percent of adjusted gross income (AGI). 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.
5. 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. Under this tax hike, wages and profits exceeding $200,000 ($250,000 in the case of married couples) will face a 3.8 percent rate instead.
Posted September 30, 2012 by Scared Monkeys 2012 Elections, Barack Obama, Obamacare, Obamanation, Obamatax, Presidential Election, Taxes | one comment |
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One Response to “Top Five Worst Obamacare Taxes Coming in 2013 of the 20 New or Higher Taxes in Obamacare”
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Under ‘ObamaCare’ the government collects ALL the
money for so called ‘HealthCare’. It’s the government’s
money now and will be meted out only as it serves the
government. 1939 Germany did this and many lives
‘unworthy to be lived’ were euthanized (millions). Too
many similarities in the 2000 pages of ObamaCare to
ignore IMHO.