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Obamacare Tax Hikes
October 8, 2010
I’ve blogged about several of the new taxes and hidden fees in the new health care law, but you should take a look at one of the National Reviews’ most recent posts. It comes in response to a piece in the Kiplinger letters that highlights thirteen tax changes found in Obamacare. Yes, there are a couple of credits for those who enroll in PPACA-sponsored state-based exchanges, but they only apply to businesses with 25 or fewer employees (and yearly wages less than $50,000) and individuals making between $11,000 and $44,000. The problem is that Obamacare will unleash ten tax increases designed to help raise the trillions of dollars necessary to fund the aforementioned subsidies as well as the law's massive Medicaid expansion.
The tax hikes are as follows:
1. 10% tax on indoor tanning services;
The 13th change would require employers to disclose health costs on W-2s.
While we have discussed many of these provisions before, I think the National Review provides a nice snapshot of the dire reality we face. We still have a few years before some of these tax hikes kick in and their details are specified, so it’s not too late to push for repeal. If we don’t halt full implementation of Obamacare, or at a minimum defund it, there will be tremendous, unwarranted consequences for American taxpayers.
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