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Best and worst states for economic outlook in the @ALEC_States “Rich States, Poor States” report: http://t.co/2tTAgSabuD #rsps
May 23, 2013 02:01 PM
taxreformer -
Do we really want state revenue departments with authority as limitless as the Internet?: http://t.co/gEmygwW0CU #NoNetTax
May 23, 2013 01:31 PM
taxreformer -
If the IRS scandal “was a mistake, what are the institutional problems that led to that?” -@MDuppler: http://t.co/jJhxG3FmnN
May 23, 2013 01:01 PM
taxreformer -
New @ALEC_States report predicts population migration to low-tax states: http://t.co/2tTAgSabuD #rsps
May 23, 2013 12:30 PM
taxreformer -
Check out @ALEC_States’ newest edition of “Rich States, Poor States” and see where your state ranks for 2013: http://t.co/2tTAgSabuD #rsps
May 23, 2013 11:30 AM
taxreformer -
On @DailyRundown, ATR’s @MDuppler links the IRS scandal to the public’s skepticism of government: http://t.co/jJhxG3FmnN
May 23, 2013 11:02 AM
taxreformer -
ATR urges @LonnieHosey, @GarySimrill, @Leonstav, and @Harry_Ott to reject tax hikes on e-cigs: http://t.co/uZahYOqg6W
May 22, 2013 01:20 PM
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ATR urges @MikePittsSC, @GarryRSmith, and @ChipLimehouse to reject tax hikes on e-cigs: http://t.co/uZahYOqg6W
May 22, 2013 01:18 PM
taxreformer -
States Bank on Online Sales Taxes to Increase Revenue, Not Cut Taxes http://t.co/ddU1I4uRQf
May 22, 2013 09:31 AM
taxreformer -
Labor Unions Turn Against Obamacare http://t.co/Q6fA9Xnx5r
May 21, 2013 04:16 PM
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The Fiscal Cliff’s Hidden $1 Trillion Tax Hike
There is a hidden $1 trillion net tax hike in the “fiscal cliff” that no one is talking about.
According to the Congressional Budget Office (CBO), Obamacare’s twenty new or higher taxes amount to a net $1 trillion over the next decade, 2013-2022.
These tax increases are already permanent law due to Obamacare. They include the medical device tax, the surtax on investment income, the individual and employer mandate non-compliance penalty tax, the medical itemized deduction “haircut,” the hike in the Medicare payroll tax rate, and others. These tax increases total exactly $1 trillion over the next ten years:
|
Tax Hike Provisions |
Tax Hike |
|
Tax Penalty Payments by Uninsured Individuals |
$55 billion |
|
Tax Penalty Payments by Employers |
$106 billion |
|
Excise Tax on High-Premium Insurance Plans |
$111 billion |
|
Associated Effects of Coverage Provisions |
$216 billion |
|
Reinsurance and Risk Adjustment Collections |
$184 billion |
|
Fees on Manufacturers and Insurers |
$165 billion |
|
Additional Hospital Insurance Tax |
$318 billion |
|
Other Revenue Provisions |
$87 billion |
|
Tax Cut Provisions |
Tax Cut |
|
Exchange Premium Tax Credits |
($222 billion) |
|
Small Employer Tax Credits |
($20 billion) |
|
Obamacare Total Net Tax Increase 2013-2022 |
$1 trillion |
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