Thursday, July 5, 2012

Breaking: Full List of Obamacare tax hikes

Well here you have it.  Nancy Pelosi was right when she said  "We have to pass this law so we can see what's in it".  I believe this is the most fraudulent misrepresentation in US history.  I am not saying this because I am conservative, I'm purely stating the facts.  We were told there were not any taxes in the law.  Lies, lies, lies.  I hold an insurance license to sell annuities and life insurance.  If I had sold a policy or an annuity to a client in the way the Obama regime sold us on this law (obamacare), I would be fined and have my licensed stripped from me.  My fellow Americans we are losing our country to this tyrant.  Every single time I hear him speak or sign an executive order I get this horrific feeling throughout.  Are you getting that feeling too?   I've never felt this way in 46 years.  I am seriously frightened of this man and what he is transmuting upon us.  Is this what it was like when Stalin was in power? Saddam Hussein?  Adolf Hitler?  I am not comparing him to these tyrants.  I am only trying to explain the gut-wrenching feeling I get when I see or hear anything this guy says or does.  I get this vision of what it might have been like to live in the countries that the aforementioned dictators ruled over.  Obama has no respect for this country, no respect for our freedom, and continually strips the original meaning of the constitution.  He is intruding on my individual liberty, my freedom, and my basic human rights.  I have a very difficult time even calling him our president.  I have tried diligently to refrain from attacking Obama regarding his birth certificate, his school grades, and his musings with radicals.  To me that doesn't matter.  What matters to me is what this prepuce is doing to this country.  His own words and actions have left me in complete contempt and disgust.  His actions from day one have been reprehensible and come November he will be held accountable.   I have given Obama the benefit of the doubt for quite some time considering his checkered past and the deplorable opposition research on the part of the Republican party in 2008. 

Now explain to me Barry what the hell is your definition of a tax?


Here's the full list of the 20 taxes enacted and approved into law:

Taxes that are already in effect 2010-2012:
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
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 ($1.4 bil/Jan 2011): Increases additional tax on non-medical early withdrawals from an HSA from 10 to 20 percent, disadvantaging them relative to IRAs and other tax-advantaged accounts, which remain at 10 percent. Bill: PPACA; Page: 1,959
9. Employer Reporting of Insurance on W-2 (Min$/Jan 2012): Preamble to taxing health benefits on individual tax returns. Bill: PPACA; Page: 1,957
ObamaCARE Taxes that start next year:
Surtax on Investment Income ($123 billion/Jan. 2013): Creation of a new, 3.8 percent surtax on investment income earned
11. Hike in Medicare Payroll Tax ($86.8 bil/Jan 2013)
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
13. Raise “Haircut” for Medical Itemized Deduction from 7.5% to 10% of AGI ($15.2 bil/Jan 2013): Currently, those facing high medical expenses are allowed a deduction for medical expenses to the extent that those expenses exceed 7.5 percent of adjusted gross income (AGI). The new provision imposes a threshold of 10 percent of AGI. Waived for 65+ taxpayers in 2013-2016 only. Bill: PPACA; Page: 1,994-1,995
14. Flexible Spending Account Cap – aka “Special Needs Kids Tax” ($13 bil/Jan 2013): Imposes cap on FSAs of $2500 (now unlimited). Indexed to inflation after 2013.
15. Elimination of tax deduction for employer-provided retirement Rx drug coverage
16. $500,000 Annual Executive Compensation Limit for Health Insurance Executives
Individual Mandate Excise Tax (Jan 2014): Starting in 2014, anyone not buying “qualifying” health insurance must pay an income surtax ]
Don’t worry though. If you are an illegal immigrant, prisoner or part of an Indian tribe, you don’t have to pay. Good news for Elizabeth Warren.
18. 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. Applies to all employers with 50 or more employees. If any employee actually receives coverage through the exchange, the penalty on the employer for that employee rises to $3000. If the employer requires a waiting period to enroll in coverage of 30-60 days, there is a $400 tax per employee ($600 if the period is 60 days or longer). Bill: PPACA; Page: 345-346
Combined score of individual and employer mandate tax penalty: $65 billion/10 years
19. Tax on Health Insurers ($60.1 bil/Jan 2014): Annual tax on the industry imposed relative to health insurance premiums collected that year. Phases in gradually until 2018. Fully-imposed on firms with $50 million in profits. Bill: PPACA; Page: 1,986-1,993

There is even another tax coming in 2018:
20. Excise Tax on Comprehensive Health Insurance Plans ($32 bil/Jan 2018): Starting in 2018, new 40 percent excise tax on “Cadillac” health insurance plans ($10,200 single/$27,500 family). Higher threshold ($11,500 single/$29,450 family) for early retirees and high-risk professions. CPI +1 percentage point indexed. Bill: PPACA; Page: 1,941-1,956

Conservative Opposition Research and Political Social Media Marketing

2 comments:

social media marketing usa said...

This is an excellent blog.

Dotty LeMieux said...

If you're a Republican fan of the Mittster perhaps. Otherwise, it is to yawn.

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