Each of the seven tax hikes are in violation of President Obama’s “firm pledge” not to raise “any form” of taxes on these families. Obama’s promise remains for all to see at the Change.gov website: “no family making less than $250,000 will see their taxes increase.” White House spokesman Robert Gibbs has confirmed that there are “no caveats” to Obama’s promise.

 

Listed below are the seven Obama-pledge-breaking tax hikes (Page numbers reference original Reid-Obama bill unless noted):

Individual Mandate Tax (Page 324/Sec. 1501/$15 bil/Jan 2014): Starting in 2014, anyone not buying “qualifying” health insurance must pay an income surtax according to the higher of the following (page 71 of manager’s amendment updates Reid bill):
 

	Single	2 Persons	3+ Persons
2014	$495/0.5% AGI	$990/0.5% AGI	$1485/0.5%/AGI
2015	$495/1.0% AGI	$990/1.0% AGI	$1485/1.0%/AGI
2016	$495/2.0% AGI	$990/2.0% AGI	$1485/2.0%/AGI

 
Exemptions for religious objectors, undocumented immigrants, prisoners, those earning less than the poverty line, members of Indian tribes, and hardship cases (determined by HHS).

Employer Mandate Tax (Page 348/Sec. 1513/$28 bil): If an employer does not offer health coverage, and at least one employee qualifies for a health tax credit, the employer must pay an additional non-deductible tax of $750 for all full-time employees. Applies to all employers with 50 or more employees.

 

If the employer requires a waiting period to enroll in coverage of 30-60 days, there is a $400 tax per employee ($600 if the period is 60 days or longer).

 

Medicine Cabinet Tax (Page 1997/Sec. 9003/$5 bil): No longer allowable to use health savings account (HSA), flexible spending account (FSA), or health reimbursement (HRA) pre-tax dollars to purchase non-prescription, over-the-counter medicines (except insulin)

 

HSA Withdrawal Tax Hike (Page 1998/Sec. 9004/$1.3 bil): Increases additional tax on non-medical early withdrawals from an HSA from 10 to 20 percent, disadvantaging them relative to IRAs and other tax-advantaged accounts, which remain at 10 percent.

 

FSA Cap (Page 1999/Sec. 9005/$14.6 bil): Imposes cap on FSAs of $2500 (now unlimited). Indexed to inflation after 2011 (added on page 363 of manager’s amendment).

 

Raise “Haircut” for Medical Itemized Deduction from 7.5% to 10% of AGI (Page 2034/Sec. 9013/$15.2 bil): Waived for 65+ taxpayers in 2013-2016 only

Tax on Indoor Tanning Services (Page 373 of Manager’s amendment/$2.7 billion/July 1, 2010): New 10% excise tax on indoor tanning salons

Do you rember the cost to President Bush #1 when he had to break his pledge not to raise taxes? However presbo breaks his promises and expects us to just bend over and grab the ankels. Not going to happen!!!!!!!!!!!!!!!!!!!!!
>> fed up Sunday, December 20, 2009 6:52 PM Report Comment

What you are missing is the biggest disastrous tax of all. the 40% excise tax that will raise workers costs for health care benefits dramatically while reducing the current benefits low and middle income workers have and quite possibly destroy the plans that guarantee your right to choose your own doctors and receive adequate diagnostics and care. This is a direct attack on patient rights and employees unions ability to negotiate health care for the workers they represent. Our freedoms are being taken away!!!
>> Ruth Ehrenberg Monday, December 21, 2009 9:26 AM Report Comment

This still has to be signed. If it is actually signed, Mr. Obama will be a one term president. I regret voting for him.
>> RTFDC1 Tuesday, December 22, 2009 3:03 PM Report Comment

What I would be curious to know is how working folks are going to foot the bill for their current insurance while having to pay upfront for 4 yrs before the unjust Obamacare kicks in? Obama is commiting political suicide for the Democrats and lying all the way. He is the biggest FRAUD in presidential history. All we can do people is vote these elitists out in 2010 and 2012 and take it back and never let them take control again. Anyone that is ramming thru a pile of hog manure like this does not care about the people in this country even if 60% of the people are against it.
>> TC Patriot Tuesday, December 22, 2009 3:16 PM Report Comment

The Center for Media Research has released a study by Vertical Response that shows just where many of these ‘Main Street’ players are going with their online dollars. The big winners: e-mail and social media. With only 3.8% of small business folks NOT planning on using e-mail marketing and with social media carrying the perception of being free (which they so rudely discover it is far from free) this should make some in the banner and search crowd a little wary. www.onlineuniversalwork.com
>> henrylow Monday, January 4, 2010 2:29 AM Report Comment