Obama Floats Latest Tax Hike:<br> Health Care Benefits Tax
Over the weekend, President Obama floated his latest tax hike plan in a desperate attempt to rescue his failing government healthcare plan. Under the idea, any family plan premium in excess of $20,000 would have to pay income taxes on the overage.
A few points here:
- Because this would be a net income tax increase, this idea would violate the Taxpayer Protection Pledge
- Because this idea does not distinguish the income of the taxpayers, it would violate Obama's promise not to tax families making less than $250,000 per year
- Because this tax increase would simply use the dollars to increase government spending, it can in no way be called "tax reform." It's just a plain old tax hike.