Posted on 06/29/2012 9:21:03 AM PDT by QT3.14
A silver lining for conservatives in the Supreme Court’s health care decision Thursday is that the court allowed the law to stand based on the idea that the individual mandate was a tax.
That news has Republicans and conservative radio talk show host Rush Limbaugh bringing out an old -- and incorrect claim -- that the health care law constitutes the largest tax increase ever.
(Excerpt) Read more at politifact.com ...
Well hot damn! That should make everyone fell better!
Of course it isn’t. Limbaugh has a tendency to throw crap at walls to see what sticks.
Is it big? Sure is? Biggest ever? Prove it.
politifact is a left wing biased site.
None of the other taxes they list come close to the cost of obamacare.
Politico is using the original and flawed CBO numbers. The reality is more than double that number
http://www.freerepublic.com/focus/f-news/2900705/posts
not "tax", but many taxes.
Obama Admin. Actuary Finds Unsustainable Status Quo Cheaper than Obamacare
http://spectator.org/blog/2009/11/16/obama-administration-actuaries
The two reasons they gave for the "overhaul" to healthcare: "to cut costs" - NOPE ,costs will go up actually. "to insure everyone" - NOPE, 10’s of millions will still be uninsured. In other words, the plan is a total failure. This is about power and control.
A little known fact of the Obamacare Law (among many other unpleasant surprises in the fine print you can be sure) is a 3.8% tax to be imposed when you sell your home--most people's greatest or only asset. 3.8% to Uncle Sam right off the bat. So how will that tax impact those who are involved in distress sales, who are underwater on their homes?
http://online.wsj.com/article/SB10001424052748704113504575264513748386610.html
The authors of the article are salivating over the estimated revenue increases as tax-and-spend advocates always do, and they will be as disappointed as those always are when that revenue somehow fails to appear. They are, in fact, attempting to compare speculation with real data. “Truth-o-meter”? That’s pretty funny, actually.
Big time. They should change their name to Politifalse.
DO YOU MEAN THE GREAT AND POWERFUL “o” lied to Americans ?
It’s a Tax, and that means the Senate can deal with “Taxes” on a simple majorirty vote....51. Well within reach of the Tea Party.
Did these idiots include the cost of multiplying the number of uncovered months, times the weighted average of the monthly premium for a plan in the person’s coverage class and coverage area plan, then add a 15 percent surcharge after that? That is now considered a tax.
If not they are f’ing liars.
Next you need to figure the amount of actual cost of your plan because if you do not pay you are paying the tax described in the first paragraph.
These libs are running your country.
Thanks for not giving a ****.
Now go pay your taxes, your country is broke. :)
Buying health insurance is now a tax. Not buying Insurance is an alternative tax. How much do Americans pay for health insurance?
CC
If Obamacare is enacted fully, the tax implications will be enormous over a long, long time. Look at Medicare and SS. Obamacare is the third and final piece of the puzzle that gives the government total control over health care. The period thru 2019 is just a downpayment on the total cost of Obamacare.
The CBO numbers are the originals. The CBO has updated things a couple of times. Ironically, the CBO has reduced the anticipated tax revenue and adjusted the cost for Obamacare up by almost 2x.
With regards to how this “tax increase” scales, they have also left out the additional costs to the consumers ($1,200 fines, etc.) There is no way to measure the tax increase specifically.
The reality of it is that our healthcare industry was one of the very few (gun/ammunition manufacturers) that was in the green/black during these economic times. The cost and regulatory compliance issues are going up for pharmacuitacle companies, medical device manufactures, doctors, hospitals, etc. There is no way to measure that impact to our healthcare industry.
Folks should start their own medical savings accounts and be prepared to pay doctors in cash.
“politifact is a left wing biased site.
None of the other taxes they list come close to the cost of obamacare.”
And maybe the giddy little troll there should be made aware that Obama said it wasnt a tax before he started typing away.
Oopsie!
RUSH IS RIGHT!.......and SPOT ON TODAY!!!! I stand with him 100%.
IT'S A CRAP-SANDWICH-TAX....Biggest in history.
Now scram, n00b...
Of course it’s small. They used Obama’s numbers to calculate the tax. I surprised Politifact didn’t declare Obamacare a tax *cut.*
Very interesting reaction up here in Canada. I was at a citizen forum discussing suggestions to improve the health care system here. The Supreme court decision came up and the people at my table couldn’t believe it went to the Supreme Court basically saying how the hell else are you going to pay for universal coverage without drawing on taxes as a revenue source.
Not valid.
They left out some of the taxes:
http://news.investors.com/article/616549/201206281902/supreme-court-confirms-obamacare-massive-tax-burden.htm
“The new taxes, which cost some $675 billion over the next decade...”
CBO reports are famous for being incredibly wrong, this one even says it doesn’t include the cost of the “Doc fix” which has already been passed- and future ones will pass too.
The author seem only to be looking at the various taxes included in the bill. Is he also taking into account the costs of insurance premiums that are MANDATED, and according to Justice Roberts are considered a tax? If he’s not, then HE is the one who is wrong.
LMAO...
If the death panel denys your treatment, and you die....yeah, it’s the largest.
A tax is a tax no matter how large or small. The majority of us cannot afford more of them. They add up and make slaves of those of us forced to pay them.
The supreme court just gave the green light for the government to tax us with unlimited power. There is nothing objective or fair about this system of institutionalized slavery. We must severely limit the governments power to tax us to destitution and death.
This slavery is justified by Homeland security as productive US citizens are deemed a greater threat to this country than the Muslim Brotherhood. We are the evil preventing the implementation of their imperial dreams.
Time to call them out and end this behavior before it is too late.
Tampa Bay Times (formerly St. Pete Times) and its twin sister, the Tampa Tribune (Ma Trib) are both Leftist mouthpieces as is Politifact.
The Leftist spin has begun.
Moot. This is much, much bigger than just a tax applied for failure to comply with Obamacare. SCOTUS just gave the other branches of government complete power to apply taxes to anything they deem required and not complied with. The door has been kicked down.
politifact is a democrat front group. This kind of garbage belongs on the DUmpster site.
“Biggest ever? Prove it.”
What difference does it make?
WTF, A tax hike is a friggin tax hike and who the heck cares how large it is, we are in a damn depression and Marxists are finding new and better way to raise taxes so that can promise more goodies to the losers in life. Excuse my usage of words and anger.
They didn’t include the mandate as a tax. It is a tax, per the Supreme Court.
Therefore, Politifact lied.
And then they collect the death tax.
I was about eighteen by the time it dawned on me that the word "fair" in politics is a term of art, and a semantic nullity.
Not the biggest tax increase in US history?
Depends on which Justice you ask.
Rush’s record on prediction on this admin (Gitmo, Lawlessness, the economy for examples) has been better than this governments record of telling the truth.
They’re correct. The dropping of the Bush Tax cuts in 6 months and 3 days will be the biggest increase.
Aren’t they also taking away the flex spending accounts?
Putting the rhetoric aside does anyone know, exactly, how much say a person making $50,000 a year would pay as a penalty?
I didn’t see where the list of tax revenues included the money extorted from people who don’t buy HI or provide it to their employees.
This looks about right, even as they are using goalseeking CBO numbers, the total % of GDP of the ACA taxes will not go above 0.75% of GDP.
What is interesting is the updated note on the bottom of the link source:
UPDATE: Some readers noticed that our initial analysis of Limbaugh’s claim failed to include references to the penalty that people who declined to purchase health insurance would be asked to pay. After all, the Supreme Court declared that penalty a tax.
The CBO figure we used for our calculation, a total of $104 billion in revenue generated in 2019, is inclusive of all revenues, including the penalty or tax individuals might pay if they do not purchase health insurance. The figure for that year was estimated to be $14 billion for penalties paid for by employees and individuals. (Page 19 of this report.) http://cbo.gov/sites/default/files/cbofiles/ftpdocs/113xx/doc11379/amendreconprop.pdf
Going to page 19 shows the CBO expects in 2019, that 20.1 Million American Slaves (exlcuding illegal aliens, and any member of a religion that doesn’t contribute to Social Security), will NOT buy health insurance AND Pay the IRS penalty.
CBO is estimating that the ACA will only cut the number of uninsured by 2/3rds over the next 7 years.
The one thing that bothers me about this ruling is that now it seems the government can ask you to do whatever it wants and if you don’t you have to pay a penalty(tax). don’t buy that.. tax.. buy that.. tax. fun.
You can hide behind a screen name all you want to, but we recognize you, David Axelrod! ;-)
Correct me if I’m wrong but it looks every signifcant tax hike listed was under a democrat administation
Depends on one’s point of view. 2.5% is nominal individual.
2.5% is no where near the largest nominal individual tax increase in US history either.
Not to get too far into arguing over how many angels can fit on the head of a needle....
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