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Groups who advocated for the IRS to prepare tax returns sure look foolish these days: http://t.co/oKvpIofu7Y
May 13, 2013 06:30 PM
taxreformer -
"We don't need the federal government mandating additional taxes..." -@MarshaBlackburn on MFA: http://t.co/lAuLJtr5t3 #NoNetTax
May 13, 2013 06:00 PM
taxreformer -
Health insurers and businesses are already feeling the iron-clad grip of regulations in #Obamacare: http://t.co/J6dfnKqFYZ
May 13, 2013 05:30 PM
taxreformer -
Virginia Governor Bob McDonnell Signs Largest Tax Hike in Virginia History into Law http://t.co/Qd6KOFfaPv
May 13, 2013 03:46 PM
taxreformer -
Under #Obamacare, mothers have had a tougher time purchasing non-prescription, over-the-counter medicine: http://t.co/dJuaGAT9LE
May 13, 2013 02:01 PM
taxreformer -
9 out of 20 #Obamacare tax hikes have not even been implemented yet: http://t.co/opFkyf1guJ
May 13, 2013 01:30 PM
taxreformer -
.@GroverNorquist on MFA: "[The Senate] didn't ask all of the questions that needed to be asked": http://t.co/wXfkIR2Ca9 #NoNetTax
May 13, 2013 01:01 PM
taxreformer -
"When architects of #Obamacare are worried about it creating a trainwreck, you know something's gone terribly wrong": http://t.co/J6dfnKqFYZ
May 13, 2013 12:30 PM
taxreformer -
Conservative and Free Market Groups Applaud Move to Delay a Vote on Gina McCarthy: http://t.co/lNQYmJAB12 #EPA
May 13, 2013 12:02 PM
taxreformer -
The #Obamacare train wreck will derail the American economy: http://t.co/opFkyf1guJ
May 13, 2013 11:30 AM
taxreformer
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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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