OBAMACARE TAXES UP TO VOTERS
OBAMACARE TAXES UP TO VOTER
Now, we know why the 2700 page Affordable Care Act called for hiring 16,000 new I.R.S. tax agents. It took the Supreme Court to confirm the financial centerpiece of Obamacare’s Mandate is a massive tax increase that would have never passed if the White House and Congress had previously explained the tax implications.
Obamacare poses many new taxes and medical service cutbacks affecting seniors and millions of middle class wage earners. This contradicts the President’s repeated claim that the “ legislation will not include a thin dime of new taxes”.
Actually, many of its new taxes are completely unrelated to medical care. For example, included is a 3.8% Home Sales Tax on all houses sold after 2012. If your home sells for $200,000 you will owe Uncle Sam a federal tax of $7600.00 as part of Obamacare.
If you require a medical device such as wheelchair, walker, replacement knee, hip, heart stent or pacemaker, a new 2.9% Obamacare tax will prevail. Newly branded drugs will also be impacted by a 2.9% tax on both domestic and foreign manufacturers and passed to recipients.
Impacting mainly seniors, the Obama Health Plan calls for $500 billion in Medicare reductions and $40 billion in Nursing Homes and Assisted Living reimbursements. For Social Security recipients, Obamacare will cause monthly Medicare Insurance premiums to rise from $104.00 to $120.00 in 2013 and $247.00 in 2014.
How apropos that this retrogressive tax extravaganza is now in the hands of American voters.