"No family making less than $250,000 per year will see any form of tax increase." 9/12/2008 -- Barack Obama, speaking on his government control of health care initiative.
The Americans for Tax Reform organization publishes the full list of ObamaTax tax increases. How many affect you?
1. Excise tax on charitable hospitals ($50,000 per hospital hike).
2. Codification of the “economic substance doctrine” ($4.5 billion tax hike).
3. “Black liquor” tax hike ($23.6 billion hike).
4. Tax on innovator drug companies ($2.3 billion).
5. Blue Cross/Blue Shield tax hike ($400 million).
6. Tax on indoor tanning services ($2.7 billion).
7. Medicine cabinet tax ($5 billion).
8. HSA withdrawal tax hike ($1.4 billion).
9. Employer reporting of insurance on W2.
10. Surtax on investment income ($123 billion).
11. Hike in Medicare payroll tax ($86.8 billion).
12. Tax on medical device manufacturers ($20 billion).
13. Raise haircut for medical itemized deduction ($15.2 billion).
14. Special needs kids tax ($13 billion).
15. Elimination of tax deduction for employer-provided retirement Rx drug coverage.
16. Annual executive compensation limit for health insurance executives ($600 million).
17. Individual mandate excise “tax”.
18. Employer mandate tax.
19. Tax on health insurers ($60.1 billion).
20. Excise tax on comprehensive health insurance plans ($32 billion).
54% of the public would like to see the ObamaTax/ObamaCare repealed. Its a costly lemon, and a bad idea. Its what you should expect from the president and Party which has proven unable to spend wisely.