Taxes fill pages of ‘Obamacare’
By Joe Balyeat
As featured in the Missoulian.
Now that the Supremes have decreed Obamacare legal, Nancy Pelosi’s words are never more relevant – “Pass the [2,900-page] bill so you can find out what’s in it.” So, what IS in it?
1. The largest tax increase in history – 21 separate tax increases and new taxes, 75 percent of which hit the middle class. $500 billion in total tax hikes. Examples: Individual Mandate Tax (2.5 percent times gross income). Employer Mandate Tax ($3,000 per employee). Investment Income Surtax (3.8 percent times interest, dividends, rents, capital gains, royalties, etc.) Medicare Payroll Tax hike. Special Needs Kids Tax. Medical Device Sales Tax. Tax increases due to reduced medical itemized deductions and reduced HSA deductibility. Blue Cross/Blue Shield Tax hike. Tax on high-end health plans. Tax on Innovator Drug companies. Insurance Premiums Tax. Elimination of tax deduction for employer-provided retiree drug coverage. Etc.
These tax increases, when the private sector already is struggling, are reason enough for Americans to reject Obamacare. But the tax hikes are only one class of multiple problems with Obamacare.
2. Reduced choices in the variety of insurance coverage available. Left-wing, politically-correct mandated coverages based on what Washington, D.C., bureaucrats feel must be included in YOUR insurance. Another bureaucrat panel tells doctors what types of care won’t be allowable.
3. Higher cost because of all the new coverages mandated into every policy. Slanted news coverage mentions only trivial objectionable mandates like birth control, but some estimates indicate all mandates combined could double insurance costs. How is this controlling health care costs?
4. Complete loss of economic freedom by forcing you to participate in this snake oil scam – you MUST buy this pork-laden insurance at a pork-laden price.