Neotrotsky
Council to Supreme Soviet
If your family earns less than $250,000 a year, you will not see your taxes increased a single dime,” Papa Obama told Congress on February 24. “I repeat: Not a single dime.”
Funny how that works............
See: New left Ad against Papa Obama or Expiration date of campaign promises- 1/20/09
Deroy Murdock:
Temecula, Calif. — While hastily ramming his 2,457-page, $2.5 trillion Obamacare package through the Senate before Christmas, Majority Leader Harry Reid (D., Nev.) must see himself as Saint Nick. High atop his sleigh, Santa Harry has piled twelve brand-new taxes and six tax hikes totaling $398.1 billion.
“If your family earns less than $250,000 a year, you will not see your taxes increased a single dime,” President Obama told Congress on February 24. “I repeat: Not a single dime.”
This remains technically true. For families earning less than $250,000, taxes would rise between 2010 and 2019 by much more than a single dime. According to Americans for Tax Reform, seven of Santa Harry’s tax hikes violate Obama’s pledge and collectively cost $81.8 billion. These include:
Funny how that works............
See: New left Ad against Papa Obama or Expiration date of campaign promises- 1/20/09
Deroy Murdock:
Temecula, Calif. — While hastily ramming his 2,457-page, $2.5 trillion Obamacare package through the Senate before Christmas, Majority Leader Harry Reid (D., Nev.) must see himself as Saint Nick. High atop his sleigh, Santa Harry has piled twelve brand-new taxes and six tax hikes totaling $398.1 billion.
“If your family earns less than $250,000 a year, you will not see your taxes increased a single dime,” President Obama told Congress on February 24. “I repeat: Not a single dime.”
This remains technically true. For families earning less than $250,000, taxes would rise between 2010 and 2019 by much more than a single dime. According to Americans for Tax Reform, seven of Santa Harry’s tax hikes violate Obama’s pledge and collectively cost $81.8 billion. These include:
A $2.7 billion levy on indoor tanning salons that Reid imposed after ditching a plastic-surgery tax. He just as arbitrarily could tax haircuts, or heirloom tomatoes, or Hula Hoops. Why not a tax on guys named Harry?
A $5 billion Medicine Cabinet Tax specifically permits insulin purchases but otherwise prohibits using money in Health Savings Accounts, Flexible Spending Accounts, or Health Reimbursement Accounts for non-prescription, over-the-counter medications. While diabetics thankfully are spared, how does this benefit those who use antacids or asthma inhalers?
A $15 billion individual mandate would force Americans to buy health insurance. In 2014, those without “qualifying” government-approved coverage would pay $495 or 0.5 percent of Adjusted Gross Income, whichever is higher. In 2016, that rises to 2 percent of AGI, or approximately $640 today.
A $15.2 billion tax requires costs to reach 10 percent of AGI, up from 7.5 percent, before Americans may deduct itemized medical expenses.
A $28 billion tax would hit employers who do not provide health coverage to their payrolls of at least 50 employees. If only one worker qualifies for a health-care tax credit, the employer must pay a fine of $750 on all 50 staffers, not just the one tax-credited employee. For 50 staffers, this penalty equals $37,500 annually. Small-business owners who file personal returns and earn below $250,000 will suffer this tax themselves.
Sen. Mike Crapo (R., Idaho) tried to enforce Obama’s pledge by deleting from Obamacare all taxes on families earning less than $250,000 and individuals making under $200,000. Every Republican supported Crapo’s amendment. All but five Democrats ganged up and killed it.
Beyond the $250,000 threshold, Santa Harry’s sleigh overflows with other new taxes:
A $149.1 billion, 40 percent excise tax awaits those with “Cadillac” health plans worth at least $8,500 per individual and $23,000 per family. These taxes, the Congressional Budget Office predicts, “would be largely passed through to consumers in the form of higher premiums for private coverage.” Also — in an affront to equality before the law — longshoremen are exempt from this tax. Why not ship captains, or nurses, or test pilots?
An additional $59.6 billion tax on health-insurance companies also will make costly coverage costlier.
A $22.2 billion tax on drug companies would increase price pressures and slash funds available for pharmaceutical research and development.
A $19.2 billion medical-device tax would boost prices of hearing aids, heart stents, artificial limbs, and similar implements and divert money to Washington that could refine such products and create new therapeutic, life-saving inventions.
A $5 billion Medicine Cabinet Tax specifically permits insulin purchases but otherwise prohibits using money in Health Savings Accounts, Flexible Spending Accounts, or Health Reimbursement Accounts for non-prescription, over-the-counter medications. While diabetics thankfully are spared, how does this benefit those who use antacids or asthma inhalers?
A $15 billion individual mandate would force Americans to buy health insurance. In 2014, those without “qualifying” government-approved coverage would pay $495 or 0.5 percent of Adjusted Gross Income, whichever is higher. In 2016, that rises to 2 percent of AGI, or approximately $640 today.
A $15.2 billion tax requires costs to reach 10 percent of AGI, up from 7.5 percent, before Americans may deduct itemized medical expenses.
A $28 billion tax would hit employers who do not provide health coverage to their payrolls of at least 50 employees. If only one worker qualifies for a health-care tax credit, the employer must pay a fine of $750 on all 50 staffers, not just the one tax-credited employee. For 50 staffers, this penalty equals $37,500 annually. Small-business owners who file personal returns and earn below $250,000 will suffer this tax themselves.
Sen. Mike Crapo (R., Idaho) tried to enforce Obama’s pledge by deleting from Obamacare all taxes on families earning less than $250,000 and individuals making under $200,000. Every Republican supported Crapo’s amendment. All but five Democrats ganged up and killed it.
Beyond the $250,000 threshold, Santa Harry’s sleigh overflows with other new taxes:
A $149.1 billion, 40 percent excise tax awaits those with “Cadillac” health plans worth at least $8,500 per individual and $23,000 per family. These taxes, the Congressional Budget Office predicts, “would be largely passed through to consumers in the form of higher premiums for private coverage.” Also — in an affront to equality before the law — longshoremen are exempt from this tax. Why not ship captains, or nurses, or test pilots?
An additional $59.6 billion tax on health-insurance companies also will make costly coverage costlier.
A $22.2 billion tax on drug companies would increase price pressures and slash funds available for pharmaceutical research and development.
A $19.2 billion medical-device tax would boost prices of hearing aids, heart stents, artificial limbs, and similar implements and divert money to Washington that could refine such products and create new therapeutic, life-saving inventions.
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