Skip to comments.It's Official: Obamacare Is a $1 Trillion Net Tax Hike
Posted on 07/26/2012 7:12:24 AM PDT by 92nina
The Congressional Budget Office (CBO) today came out with new scores for Obamacare. The big statistic that caught our eye was that Obamacare is now officially a $1 trillion net tax increase.
The reason this number is bigger than in the past is because the gimmicks of that law are now running out. Tax hikes were scheduled to start several years after the passage of the bill, creating many "zero" years on a ten-year score. Well, it;'s been several years, so the window dressing chickens are coming home to roost.
In Table 2 of CBO's analysis of repealing Obamacare, they clearly point out how Obamacare is a net tax increase of $1 trillion (to the penny). If one were to remove the rest of the "zero" years, the net number would be more like $1.1 trillion.
ATR has consistently cataloged all 20 new or higher taxes in the President's healthcare law. Now CBO confirms what we have suspected all along--this is one of the largest tax hikes in U.S. history. When fully phased-in, it should permanently raise net taxes by about two-thirds of a percent of GDP.
Read more: http://atr.org/official-obamacare-trillion-net-tax-hike-a7066#ixzz21jnoVAED
We should have believed Nancy Pelosi when she said we don’t know WHAT is in the LAW until it is passed.
CBO’s new score of Obamacare shows that it is a net tax hike of $1 trillion over the next decade.
Republicans should be passing tax increase repeal bills already.
ATR has consistently cataloged all 20 new or higher taxes in the President’s healthcare law.
$1 trillion tax hike. Obama doesn’t give a damn. When he loses in November he’ll head back to Kenya and become community organizer for the Muslim Brotherhood.
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