For Those Arguing Obamacare is NOT a Tax/Doesn’t Raise Taxes……Facts are Pesky Things. Full List of Obamacare Tax Hikes

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From Flopping Aces:

Full List of Obamacare Tax Hikes

By  Curt

June 28, 2012

Obamacare law contains 20 new or higher taxes on American families and small businesses

Taxpayers are reminded that the President’s healthcare law is one of the largest tax increases in American history.

Obamacare contains 20 new or higher taxes on American families and small businesses.

Arranged by their respective effective dates, below is the total list of all $500 billion-plus in tax hikes (over the next ten years) in Obamacare, where to find them in the bill, and how much your taxes are scheduled to go up as of today:

Taxes that took effect in 2010:

1. Excise Tax on Charitable Hospitals (Min$/immediate): $50,000 per hospital if they fail to meet new “community health assessment needs,” “financial assistance,” and “billing and collection” rules set by HHS. Bill: PPACA; Page: 1,961-1,971

2. Codification of the “economic substance doctrine” (Tax hike of $4.5 billion).  This provision allows the IRS to disallow completely-legal tax deductions and other legal tax-minimizing plans just because the IRS deems that the action lacks “substance” and is merely intended to reduce taxes owed. Bill: Reconciliation Act; Page: 108-113

3. “Black liquor” tax hike (Tax hike of $23.6 billion).  This is a tax increase on a type of bio-fuel. Bill: Reconciliation Act; Page: 105

4. Tax on Innovator Drug Companies ($22.2 bil/Jan 2010): $2.3 billion annual tax on the industry imposed relative to share of sales made that year. Bill: PPACA; Page: 1,971-1,980

5. Blue Cross/Blue Shield Tax Hike ($0.4 bil/Jan 2010): The special tax deduction in current law for Blue Cross/Blue Shield companies would only be allowed if 85 percent or more of premium revenues are spent on clinical services. Bill: PPACA; Page: 2,004

6. Tax on Indoor Tanning Services ($2.7 billion/July 1, 2010): New 10 percent excise tax on Americans using indoor tanning salons. Bill: PPACA; Page: 2,397-2,399

Taxes that took effect in 2011:

7. Medicine Cabinet Tax ($5 bil/Jan 2011): Americans no longer able to use health savings account (HSA), flexible spending account (FSA), or health reimbursement (HRA) pre-tax dollars to purchase non-prescription, over-the-counter medicines (except insulin). Bill: PPACA; Page: 1,957-1,959

8. HSA Withdrawal Tax Hike ($1.4 bil/Jan 2011): Increases additional tax on non-medical early withdrawals from an HSA from 10 to 20 percent, disadvantaging them relative to IRAs and other tax-advantaged accounts, which remain at 10 percent. Bill: PPACA; Page: 1,959

Tax that took effect in 2012:

9. Employer Reporting of Insurance on W-2 (Min$/Jan 2012): Preamble to taxing health benefits on individual tax returns. Bill: PPACA; Page: 1,957

Taxes that take effect in 2013:

10. Surtax on Investment Income ($123 billion/Jan. 2013):  Creation of a new, 3.8 percent surtax on investment income earned in households making at least $250,000 ($200,000 single).  This would result in the following top tax rates on investment income: Bill: Reconciliation Act; Page: 87-93

Capital Gains Dividends Other*
2012 15% 15% 35%
2013+ 23.8% 43.4% 43.4%

*Other unearned income includes (for surtax purposes) gross income from interest, annuities, royalties, net rents, and passive income in partnerships and Subchapter-S corporations.  It does not include municipal bond interest or life insurance proceeds, since those do not add to gross income.  It does not include active trade or business income, fair market value sales of ownership in pass-through entities, or distributions from retirement plans.  The 3.8% surtax does not apply to non-resident aliens.

11. Hike in Medicare Payroll Tax ($86.8 bil/Jan 2013): Current law and changes:

First $200,000
($250,000 Married)
Employer/Employee
All Remaining Wages
Employer/Employee
Current Law 1.45%/1.45%
2.9% self-employed
1.45%/1.45%
2.9% self-employed
Obamacare Tax Hike 1.45%/1.45%
2.9% self-employed
1.45%/2.35%
3.8% self-employed

Bill: PPACA, Reconciliation Act; Page: 2000-2003; 87-93

12. Tax on Medical Device Manufacturers ($20 bil/Jan 2013): Medical device manufacturers employ 360,000 people in 6000 plants across the country. This law imposes a new 2.3% excise tax.  Exempts items retailing for <$100. Bill: PPACA; Page: 1,980-1,986

SOURCE

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Then ADD the Tax (Penalty as the Obama Admin. wants you to believe) if you don’t either have insurance or ARE NOT on the “government plan”.

If this were NOT a tax, why would Obama INCREASE the size of the IRS by over 16,000 employees as part of Obamacare?

The IRS has become the LARGEST ENFORCEMENT arm of the U.S. Government.

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The Communists within the USA and the Progressive/Democrat Socialists are STILL pushing their agenda after the Supreme Court Ruling.

Why?

Because they want “Medicare for All” or Single Payor system.

There is an “opt-out” clause where states can opt out of Obamacare.  Some Conservative Governors are considering doing just that.

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RELATED LINKS:

Bait And Switch on Obamacare. Obama and Progressives/Democrat Socialists Knew Exactly What They Were Doing to the American People

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Obama Lied: Obamacare IS the Largest Tax Increase on Americans in HISTORY. Is the Tea Party Re-Awakeniing in Numbers?

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Obama: Not a Tax; a Penalty. Supreme Court Disagrees. Obamacare Hides a Tax Like NO OTHER on Americans.

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The Government Can’t Make You Eat Broccoli; But Will TAX YOU if you Don’t

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# I AM JUST A BLOGGER DOING THE JOB THE LAME-STREAM LIBERAL BIASED OBAMA PROTECTIONIST MSM’S WON’T/REFUSE TO DO!

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2 CommentsLeave a comment

  1. Obamacare needs to be repealed and replaced:

    http://www.canadafreepress.com/index.php/article/47749?utm_source=CFP+Mailout&utm_campaign=ad211e5d59-Call_to_Champions&utm_medium=email

  2. Article I, Section 7, Paragraph 1 says:

    “All bills for raising revenue shall originate in the House of Representatives”. Well, as you will recall, when the concurrent bill failed, the Senate pulled out a prior bill and “deemed it passed”.

    That bill originated in the Senate! It is an unconstitutionally passed tax law!


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