Taxes.... we don't need no new stinking taxes... but the CBO says you are going to get them anyway..

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S. Lindsey
S. Lindsey's picture
Joined: 12/31/2008

CBO to employers: Obamacare has $4B more in taxes than expected..

"Business owners will pay $4 billion more in taxes under President Obama’s Affordable Care Act (ACA) than the Congressional Budget Office had previously expected."
In short, CBO revised the Obamacare tax burden upward by $4 billion for businesses and $1 billion to $1.5 billion for individual workers."

But it is NOT a tax...or is it?

We have heard over and over and over from our Progressive Comrades the ACA is not a tax and cost will go down. That you can keep your own Doctor (just don't make any changes or you lose that one). If your Employer's cost go up to maintain Insurance coverage on you and your family who do you think is going to pay for that?

Remember when we all heard that Obama was not going to raise anyone's tax under $250k? Obama: "I can make a firm pledge. Under my plan, no family making less than $250,000 a year will see any form of tax increase. Not your income tax, not your payroll tax, not your capital gains taxes, not any of your taxes."...but then went ahead and broke that promise with a Cigarette tax?

Well here are just a few more "taxes" on those that make less than $250k...

Excerpted in part....

1. Individual Mandate Tax- This provision will require a couple to pay the higher of a base tax of $1,360 per year, or 2.5% of adjusted growth income starting with lower base tax and rising to this level by 2016. Individuals will see a base tax of $695 and families a base tax of $2,085 per year by 2016.

2. Medicine Cabinet Tax-This tax prohibits reimbursement of expenses for over-the-counter medicine, with the lone exception of insulin, from an employee’s pre-tax dollar funded Health Saving Account (HSA), Flexible Spending Account (FSA) or Health Reimbursement Account (HRA). This provision hurts middle class earners particularly hard since they earn enough to actually pay federal taxes, but not enough to make this restriction negligible.

3. The Flexible Spending Account (FSA) Cap- imposes a cap of $2,500 per year (which is now unlimited) on the amount of pre-tax dollars that could be deposited into these accounts.

4. Medical Itemized Deduction Hurdle-currently 7.5% of adjusted gross income, Obamacare raises this hurdle to 10% of adjusted gross income.

5. Health Savings Account (HSA) Withdrawal Tax Hike-This provision increases the additional tax on non-medical early withdrawals from an HSA from 10% currently to 20% beginning in 2013.

6. Indoor Tanning Services Tax-places a 10% excise tax on people using tanning salons.

7.Excise Tax on Comprehensive Health Insurance Plans or the “Cadillac” Health Insurance Plan Tax-This provision imposes a 40% excise tax on the employer-paid premium on taxpayers who are covered by such plans, beginning in 2018.

I promise no new taxes... cross my heart and such...

You can always tell when he not telling the truth...he goes off teleprompter

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