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Have a Happy New Year as $1 Trillion Obamacare Tax Hike Hitting Tomorrow
On January 1, regardless of the outcome of fiscal cliff negotiations, Americans will be hit with a $1 trillion Obamacare tax hike.
Obamacare contains twenty new or higher taxes. Five of the taxes hit for the first time on January 1. In total, Americans face a net $1 trillion tax hike for the years 2013-2022, according to the Congressional Budget Office.
The five major Obamacare taxes taking effect on January 1 are as follows:
The Obamacare Medical Device Tax: Medical device manufacturers employ 409,000 people in 12,000 plants across the country. Obamacare imposes a new 2.3 percent excise tax on gross sales – even if the company does not earn a profit in a given year. In addition to killing small business jobs and impacting research and development budgets, this will increase the cost of your health care – making everything from pacemakers to artificial hips more expensive.
The Obamacare Flex Account Tax: The 30-35 million Americans who use a pre-tax Flexible Spending Account (FSA) at work to pay for their family’s basic medical needs will face a new government cap of $2500. This will squeeze $13 billion of tax money from Americans over the next ten years. (Currently, the accounts are unlimited under federal law, though employers are allowed to set a cap.)
There is one group of FSA owners for whom this new cap will be particularly cruel and onerous: parents of special needs children. There are several million families with special needs children in the United States, and many of them use FSAs to pay for special needs education. Tuition rates at one leading school that teaches special needs children in Washington, D.C. (National Child Research Center) can easily exceed $14,000 per year. Under tax rules, FSA dollars can be used to pay for this type of special needs education. This Obamacare tax provision will limit the options available to these families.
Read it all at Americans for Tax Reform.
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- Brilliant!… Demand A Plan – Demand Celebrities Go F*CK Themselves! (Video)
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- Promises, Promises… Piers Morgan Says He May Deport Himself If America Doesn’t Change Its “Crazy Gun Laws”
From USweekly
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Bare Naked Islam It isn’t Islamophobia when they really ARE trying to kill you!
Creeping Sharia Here in the USA, we have to FACE the muslim problem head on!
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Okay, I get it. But still, is this really necessary?
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From the Looking Spoon.
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Note: From now on, as much as I can possibly do so, I will link using the originating site’s name instead of just using HERE or THERE or GO NOW. Give some very needed credit to this sites.
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