Sunday, July 1, 2012
From ObamaCare to ObamaTax. Here are the taxes being imposed by the Democrat's healthcare law. Only Democrats passed this, and the American people have been against it since the start; polls show at least 57% against as of this posting. The lowest has been 51% against. Some polls show as high as 67%. There's a lot in the law that has absolutely nothing to do with health or medicine. There's twenty or twenty one new taxes, some listed below. Full article here.
Health and Human Services (HHS) taxes (this is already in effect) charitable hospitals $50,000 if they don't meet new "community health assessment needs," "financial assistance," and "billing and collection" rules. Don't know the number, but my bet is most charitable hospitals are Christian institutions, and we know Obama is an anti-Christian bigot. Obama is against charity; remember one of the first things he did was reduce deductions for charitable giving.
There's a tax increase of $4.5 billion for a specific type of bio fuel. This has what do to with health care?
This was one of the first to be noticed by the public: a 10% tax on tanning bed usage.
If you have a flex account through work to purchase medical stuff, that's off the table now. You can only use it for the purchase of prescription meds, not over the counter except for insulin. For cryin' out loud, prescription meds you get through your health insurance.
Your employer starting this year will be reporting your insurance on the W2. How long before that's used to tax your health benefits? Right now those are pre tax. This is the set up to take that away.
There's a 3.8% surtax on investments. What's this have to do with health insurance?
"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."
Medical devices will be taxed. Need a wheelchair or prosthetic device? Taxed.
Have a special needs child? Before there was an open ended flexible spending account for them. Now it's capped. It was unlimited.
Then, most famously, the mandate. If you decide not to participate in ObamaTax, you'll pay a penalty, er, tax, on something you don't use. Same for employers, but for them it may be cheaper to pay the tax than carry employee insurance. Look to lose your private health insurance. The ultimate goal of ObamaTax is to force everyone onto a single payer system. Obama stated this several times, it's on vid, that he wanted this; he just stopped saying it when he started to campaign for president.
If you have a health plan with lots of bell and whistles, a "Cadillac" plan, there will be an 40% tax increase on that. Congress has a "Cadillac" plan. They are exempt. Of course, they are exempt from all of this.
This really really really must be repealed. It's the death knell of our constitutional republic if left in place. If the government can manage your health needs, and take even more of your money if you don't comply, you have no freedom.
In the early 1960's Reagan spoke against the very thing that's happening to us now. If you haven't heard this yet, please, listen up.