From Americans for Tax Reform (ATR), Obamacare adds at least 19 new taxes on American individuals and businesses.
A summary of these 19 taxes is as follows:
Here’s s summary of the taxes in the bill as currently understood:
- Individual Mandate Excise Tax
- Employer Mandate Tax
- Excise Tax on Comprehensive Health Insurance Plans
- Hike in Medicare Payroll Tax
- Medicine Cabinet Tax
- HSA Withdrawal Tax Hike
- Flexible Spending Account Cap – aka “Special Needs Kids Tax”
- Tax on Medical Device Manufacturers
- Raise “Haircut” for Medical Itemized Deduction from 7.5% to 10% of AGI
- Tax on Indoor Tanning Services
- Blue Cross/Blue Shield Tax Hike
- Tax on Innovator Drug Companies
- Tax on Health Insurers
- Elimination of tax deduction for employer-provided retirement Rx drug coverage
- Employer Reporting of Insurance on W-2 (Preamble to taxing health benefits on individual tax returns)
How will it all be enforced?
Oh, it also will result in the hiring of 12,000 NEW IRS agents, (you know, that whole “compliance” thing with the new insurance mandates).
Again, these are just some of the surprises in this massive bill that the vast majority of the American public has no idea about. And in spite of that, they’re still overwhelmingly against the bill. Which gives you a pretty good idea why politicians like to do things like this in big bills few people will read.
This bill is digusting at many levels: attacks on liberty, bribery, corruption, Socialism, taxes, power, lying, rationing and on and on.
Filed under: Barack HUSSEIN Obama, Collectivism, Economy, Entitlements, Fascism, History, Liberalism, Nutroots, Obama corruption, Politics, Progressives Ain't, Socialism, Socialized Healthcare, Taxes, Tea Party, Union Thugs, Welfare | Tagged: anti-American, anti-freedom, Blue Cross/Blue Shield Tax Hike, Elimination of tax deduction for employer-provided retirement Rx drug coverage, Employer Mandate Tax, Employer Reporting of Insurance on W-2, excise tax, Excise Tax on Comprehensive Health Insurance Plans, Flexible Spending Account Cap - aka "Special Needs Kids Tax", government takeover of healthcare, health insurance mandate, Hike in Medicare Payroll Tax, HSA Withdrawal Tax Hike, Individual Mandate Excise Tax, Medicine Cabinet Tax, new taxes, Obamacare, Pelosi, Raise "Haircut" for Medical Itemized Deduction from 7.5% to 10% of AGI, Reid, Socialism, Tax on Health Insurers, Tax on Indoor Tanning Services, Tax on Innovator Drug Companies, Tax on Medical Device Manufacturers |