— Date: Sunday, July 1, 2012, 9:13 PM
So, here are several of the new taxes that are being imposed on the middle class to help offset the almost 2 trillion dollars that the health care plan is expected to cost, not even allowing for inflation. Read it and weep!
So, what do we get for our little $1.8 trillion gift of healthcare from the government? Not surprisingly, there was no mention Thursday of the 20 other different taxes hidden in Obamacare, many of which affect families earning less than $250,000 a year. The new taxes, which conservatively are estimated at around $675 billion (I’ll give 10 to 1 they will cost more) over the next decade, include:
· A 2.3% excise tax on U.S. sales of medical devices that’s already devastating the medical supply industry and its workforce. The levy is a $20 billion blow to an industry that employs roughly 400,000. (By the way, with this little gem, here are a few fun facts to enjoy and ponder, especially if you’re looking for work: Michigan-based Stryker Corp., blames the tax for 1,000 layoffs; Indiana-based Zimmer Corp., which cites the tax in laying off 450 and taking a $50 million charge against earnings; Indiana-based Cook Medical Inc., which has scrubbed plans to open a U.S. factory; Minnesota-based Medtronic Inc., which expects an annual charge against earnings of $175 million, and Boston Scientific Corp., which has opted to open plants in tax-friendlier Ireland and China to help offset a $100 million charge against earnings.)
A 40% excise tax on so-called Cadillac, or higher cost, health insurance plans (Elitism is frowned upon under Obamacare – wonder what the unions think of this one? Oh, wait … that’s right – big unions got a deferral!)
A 3.8% surtax on investment income from capital gains and dividends that applies to single filers earning more than $200,000 and married couples filing jointly earning more than $250,000.
A $50,000 excise tax on charitable hospitals that fail to meet new “community health assessment needs,” “financial assistance” and other rules set by the Health and Human Services Dept.
A $24 billion tax on the paper industry to control a pollutant known as black liquor.
A $2.3 billion-a-year tax on drug companies (After all, they’re big and deserve it just because, don’t they?)
A 10% excise tax on indoor tanning salons. (No big deal. It’s always been cheaper to go the beach anyway.)
An $87 billion hike in Medicare payroll taxes for employees, as well as the self-employed (And we all know how greedy those capitalist-loving self-employed are!)
A hike in the threshold for writing off medical expenses to 10% of adjusted gross income from 7.5%.
A new cap on flexible spending accounts of $2,500 a year, (Because after all, we need more tax revenue, not savings!)
Elimination of the tax deduction for employer-provided prescription drug coverage for Medicare recipients.
An income surtax of 1% of adjusted gross income, rising to 2.5% by 2016, on individuals who refuse to go along with Obamacare by buying a policy not OK’d by the government.
A $2,000 tax charged to employers with 50 or more workers for every full-time worker not offered health coverage.
A $60 billion tax on health insurers. (Hmm … wonder where they’ll recoup the costs on this one?)
All told, there are 21 new or higher taxes imposed by Obama’s health care law — and 21 more reasons to repeal it.

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