The Largest Tax Hike in US History has just been upheld by the Supreme Court of the United States and President Obama sees this assault on the middle class as a victory.
The already unpopular 2010 health care reform law has been converted by the court into a $1.76 trillion tax increase funded by escalating taxes to be paid the vast majority of taxpayers. The high court’s ruling leaves in place 20 tax increases in the health-care law, of those, 12 tax hikes would affect families earning less than $250,000 per year, including a “Cadillac tax” on high-cost insurance plans, a tax on insurance providers, and an excise tax on medical device manufacturers. By formally converting ‘Obamacare’ into ‘Obamatax,’ the court allows Obama to raise taxes on the middle-class.
The decision is a distressing blow to taxpayers and represents the single largest tax increase on young people in the nation’s history. When it takes full effect, the Internal Revenue Service will have immense new power and authority to persecute and prosecute a whole new group of taxpayers.
If the law takes full effect, it will devastate small businesses and destroy any chance for a sustainable economic recovery. It will add trillions of dollars to the national debt and push the country toward bankruptcy even faster than current projections. Any individual who believes that this decision must be overturned must do everything possible to undo the damage that has been done, especially at the ballot box on November 6.
–Obamacare law contains 20 new or higher taxes on American families and small businesses–
WASHINGTON, DC – 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
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 WagesEmployer/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
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. 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 thousands of 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. Bill: PPACA; Page: 2,388-
2,389
15. Elimination of tax deduction for employer-provided retirement Rx drug coverage in coordination with Medicare Part D ($4.5 bil/Jan 2013) Bill: PPACA; Page: 1,994
16. $500,000 Annual Executive Compensation Limit for Health Insurance Executives ($0.6 bil/Jan 2013).
Bill: PPACA; Page: 1,995-2,000
Taxes that take effect in 2014
17. Individual Mandate Excise Tax (Jan 2014): Starting in 2014, anyone not buying “qualifying” health
insurance must pay an income surtax according to the higher of the following
| 1 Adult | 2 Adults | 3+ Adults | |
| 2014 | 1% AGI/$95 | 1% AGI/$190 | 1% AGI/$285 |
| 2015 | 2% AGI/$325 | 2% AGI/$650 | 2% AGI/$975 |
| 2016 + | 2.5% AGI/$695 | 2.5% AGI/$1390 | 2.5% AGI/$2085 |
Exemptions for religious objectors, undocumented immigrants, prisoners, those earning less than the poverty line, members of Indian tribes, and hardship cases (determined by HHS). Bill: PPACA; Page: 317-337
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
Taxes that take effect 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
Life Insurance 
Roadside Assistance 
Auto Insurance 
America is full of special interest groups. Obama was coached by Clinton on how to be elected and its the same tactics Clinton used to get elected into office “slick willy”. Obama told women that they would get things, told blacks that everything would go their way (more benefits), well you know all muslims voted for him, then told homosexuals and lesbians what they needed to hear for their special interests, then spouted off about change which got all the stupid sheeps following him. Well thats the majority !!! The purpose of running for office now is to simply get elected. It does not matter what you promise or intend, its to get elected. After being elected then you line your pockets with money and retire after four years. How do they get all those millions over four years???? America is full of dumb people that don’t really care about America’s future, only their selfish interests. Obama care is full of tax hikes and who can afford insurance anyway (most working people can’t). Who do you think runs all of the insurance companies?? Who paid Obama to get Obama care passed?? Who really makes the money from all of this??
The numbers are so large that one can’t wrap one’s head aronud them. That’s how the politicians get away with demagoguing their favorite positions. Allow me to illustrate with a picture.Plug the following numbers into a spreadsheet, then convert them into a bar graph. You will be amazed.National Debt: $14.3 Trillion (eleven zeroes)Current Deficit: $1.7 Trillion (eleven zeroes)Spending Cut Compromisefrom the latestContinuing Resolution: $30.38 Billion (seven zeroes)While we’re on the subject of politicians lying (gasp!) don’t buy the promises of reducing the deficit 10 or 20 years in the future. I call BS on that. Future Congresses will not be bound by anything the current Congress promises. Furthermore, any talk of reducing the deficit is still a red herring. The deficit is just the current year shortfall. We will not reduce the debt until the annual deficits are less than zero. I want to hear a plan to reduce the debt, not the deficit. I want it in the very next budget, not 10 years in the future. Any politician who claims to have a plan to reduce the deficit in 10 years is simply pandering for votes ( ie: lying).
It is worse if a company had to lay off worrkes recently and tries to hire again. They pay a penalty rate, often for several years. The unemployment compensation premiums act as a deterrent to hiring.
”Why” are congress and the senate sitting on their thumbs,and allowing our president to do
whatever he pleases without sufficient opposition that would stop him.?
Talk to your friends, relatives, neighbors, fellow workers, everyone about the upcoming election. They need to understand how important it is to vote Obama OUT! Obama wins……..as a people and a nation, we LOSE!
Our next Presidential election (November) may well be our LAST free election if Obama is re-elected. Please! think about that when you vote!
I question whether we will have the freedom to vote THIS November!
The next Presidential election may well be our LAST presidential election if we re-elect Obama. Please keep that in mind when you vote!
All that this President needs to do is creat a peace plan in the Middle East { a plan of seven years duration] to fulfill another prophecy. Good Old No. 666 WY TO GO Mr Obama.
He is the Anti Christ Came from the East, Kenya, charming and many week people are following him.
Russia and the Arabs will attack Israel but will lose 83% of their armies.God will save His people Then in the final battle at Armageddon Good with the Second Coming of Jesus Christ will be victorious
No….don’t think the Obamster is the Anti-Christ. He’s not smart enough to pull that off.
No, he may be dumb, but he could be the wounded head of the beas with seven heads! Ever notice
when the Arabs are somewhat Peacefull is when they are out of fighters? Then they wait until they’ve
reared new fighters and myrtars?
Don’t forget to bombard telldc.com, become registered, and Post comments to the Politicians
that are in your Districts. Let’em know first hand how you feel. There are plenty of issues that can be addressed. Look forward to seeing many of you there!
Maybe you don’t work, but week, is different than weak.
I disagree the Antichrist suppose to be smart and have a solution for the world
president Obama has neither.
This President lies every time he opens his mouth. It used to be more difficult to determine when he was lying. If his mouth moves it is a lie exiting. President in Chief of Deceit and Wrong Doing. My favorite Communist President of the Socialist States of America.. { or is it Czar in Chief?] Karl Marx would be proud.
President Obama is not lining he just has a bad memory.
The question is Obama saying a lie used to be more dificult. Now he is lying if he says anything and eveEven when he looks us in the eye he is so well practiced he does not show the traits normally of looking away or down of most lyers.
Failing to embrace the truth with all your might leaves you vulnerable to every deception. Many in 2008 embraced a feel-good story without a reality check. Have they awakened? Do many think more incisively now? Let us hope so!
Just as the Good Word teaches us, we can not be “warm” we must be hot or cold. Stand on the Rock, stand firm, stand strong, stand together. In November, our voices MUST be heard. Let us take back our great Nation, under God, let us be Indivisible, and provide Justice for all. Amen.
I actualy cried to read all the lies about our president!!! Where is all this horrible hatred coming from!!!
It must be from all the blubbering lies told to the sheep[ that listen to Rush Limbaugh. He brainwashed
his listeners to believe his every word and they are like a herd of sheep following his BIG MOUTH blatant lies!!!!
Get a grip Tina, no lies just the facts and the facts bear out this sham as a president!!!
Let’s not lose sight of the fact that congress still needs a good amount of cleaning out also, The reason Obama gets away with his tyranny is because the Senate lets him and the House of Reps is full of thieves on the take as well.
Read “Atlas Shrugged” if you want to see what is in store for America! If Obama wins a second term, this book which was published in 1957, will be the script for all of freedom-loving Americans. Who is John Galt?
Gail hit it right on the head. Where will we go to get away from the gov?
You are so right Gail. I KNOW of people who are living in FEAR for the FUTURE of not only for themselves but for our great Nation. They are hiding food, weapons, preparing secret living quarters because of the FEAR that is holding them hostage due to the results of bringing obama and his minions into office. Why must they live this way? Why must WE live this way? Show up strong in November!!!
If this man is re-elected we have no future. I say on Nov. 4th NOBAMA
I fear for our children’s future or lack thereof. when you travel through Europe you see what our fate might be.
our sons, daughters relatives and friends are in other countries fighting for our freedom, we should bring them home and have them fight for our freedom here!!
One more thing about owning a house/condo: Anything that bekars, anything that needs to be maintained, you fix it or it doesn’t get fixed. One of the joys of renting is calling up the landlord and saying, The ______ is broken, come over and fix it, please.
ALL I HAVE TO SAY IS WE HAVE TO VOTE HIM OUT OUT OUT OUTTTT
0bamao. He got into office the old fashioned way. He Lied, and paid off the media.
All of you True Christians need to fight back in Nov. If the government can make the Catholic religion’s teachings be against the law, what will he do next to the other Christian religions? Will freedom of religion and freedom of speech be against the law if the word of the Bible is being preached and taught in our churches? After all, that is not the koran.
Remember that Obama said he would transform America. He was very up-front about it. That implied or should have implied to anyone really listening to what he was saying, that he found America somehow unacceptable in its present form. That should have forced people to look deeper into the man and his beliefs to find the likely meaning of his words. Sadly too few Americans bothered to do any type of research on Obama and instead opted to simply join in the chants of “Hope and Change”. Had they looked into his background, they would have found a man who no only would champion socialized medicine, but literally the whole array of socialism itself. Although he goes to great lengths to claim this isn’t so.
What ObamaCare is to medicine, Dodd-Frank is to our financial sector. Soon the EPA will render much of our energy and transportation sectors the same way. Our economy is already starting to look and perform very similar to that of Europe. That is NOT a good thing. High taxes, crushing regulations, little to no economic growth, double digit unemployment. That’s what we’re emulating here.
Obama and Hitler both promised alot but as 70 years ago no onw seemed to want to believe the changes they promised were so literal. Eliminate Jews [no way]..Eliminate freedoms and laws {no way] Oops we goofed again!!
100 years ago Argentina was one of the wealthiest country on earth. Along came a charasmatic president that socialized eveything. Twenty years later Argentina was a third rate country. Broken.
Obama, dingbat Pelosi, Harry Reed, and all the rest of this ilk need to be voted out before it happens to us.
If it dosn’t happen in November America is screwed.
Pelosi can not be voted out because she is supported by all the residents of San Fransicko
Will Romney be any better? He would cancel Amtrak.
Cancel Amtrak? It seems we have more important things to worry about! Can you say FREEDOM?
Cancel Amtrak? Maybe privatize, but not “cancel”. But even so, Amtrak is operating at a loss, except for the subsidies the government is giving them.
I can imagine what Paul Revere would say. TO ARMS! TO ARMS! THE GOVERNMENT IS COMING!
Obama is the worst president in the history of the United States. I am a Repulican but in the past if a Democrat won, then that’s just the way it was, wait to next time. But if Obama repeats, this great country of ours will be doomed. Obama had the unemployed and illegals on his side, because he just gave away government money but now he has them being taxed also. How can people unemployed or those who make a small salary ever ever afford health insurance. Obama is pure evil through and through in my humble opinion. Hopefully the people of America will wake up soon before its too late.
A nation of sheep is ruled by a government of wolves!
And Jefferson said” a government that is big enough to give you everything, is also big enough to take away every thing you have”!
Four more years and we can all kiss the America we know good-bye. It is time Obama starts telling the people the truth instead of lying out of the side of his mouth. We must be sure he is not re-elected.
MY THOUGHTS EXACTLY.
Next thing you know President Obama will be requiring the anthem to be changed. Something like this: I pledge allegiance to the flag of the Non-United States of America and to the Socialist Republic for which it stands, a divided nation, not under God, and no liberty and justice for all. Or, be taxed if it’s not changed.
The faster we vote him out the better for our country.You notice not one mention of stopping the perks,porks and kickbacks to corporations which would of paid probably all of our debt!
So much for the land of the free. Our great country has been destroyed by the socialists, unions and the sierra club/environmentalists. Freedom has become a fleeting memory. How very, very sad.
Millions of people are racing across our boarders to escape Socialism and Dictators.
So what are Americans doing? Voting in a socialist dictator……………
People also have to understand that the Democratic Party of today is not the party that our parents belonged to.
It has evolved into a Democratic Socialist club …
Socialist have taken control of the party and our higher education.
Soviet Premier Nikita Kruschev made the bold statement “We will bury you without firing a shot.”
It appears he was right!
I do not want to see Obama re-elected, but if the Republicans do not come up with a better health care plan they will come off as complainers not leaders and lose the election. It is not be enough to preach the repeal of Obamacare, they have to come up with a good replacement. What I am seeing now is a re-enactment of the 2008 Republican campaign.
The only thing we conservative voters have now is prayer.
The government we have now is closer to a dictatorship than a democracy. I wouldn’t be surprised if Obama suspended the upcoming elections due to a trumped up national emergency like Hitler did. Both were elected.
Another 4 tears of Obama,you will not recognize this country.He will have spent and tax it to death.He has also caused the USA to lose respect world wide.
We should thank president Bush for appointing Roberts – a “closet liberal” for sticking it to us by voting to approve Obama’s plan. He was supposed to be on the side of the working and retired, not the indigent and lazy.
You are like Obama? is buhs fault
Who are we kidding?…I cannot keep up with the taxes any longer…at least have to see what Mr. Romney can or cannot do…this is what we know of the present situation…four more years of whatever else will occur may be more than most of us can stand….
Horrible!! Obama must go so our country can go back to being free of government control of our lives.
We should all thank Chief Justice Roberts for finding someway to call the penalty a tax because this should be the last nail in the coffin of our Kenyan born illegal Muslim alien, the the Democrats put in the White House. Now vote them all out.
TAX! TAX! TAX! This is the OBAMASCAM Creed.