Skip to comments.Comprehensive List of Obama Tax Increases
Posted on 06/29/2012 1:22:20 PM PDT by Nachum
Since taking office three years ago, President Barack Obama has signed into law twenty-one new or higher taxes on the American people:
1. A 156 percent increase in the federal excise tax on tobacco: On February 4, 2009, just sixteen days into his Administration, Obama signed into law a 156 percent increase in the federal excise tax on tobacco, a hike of 61 cents per pack. The median income of smokers is just over $36,000 per year.
2. Obamacare Individual Mandate Excise Tax (takes effect in Jan 2014): Starting in 2014, anyone not buying qualifying health insurance must pay an income surtax according to the higher of the following:
(Exemptions for religious objectors, undocumented immigrants, prisoners, those earning less than the poverty line, members of Indian tribes, and hardship cases (determined by HHS). Bill: PPACA; Page: 317-337)
3. Obamacare Employer Mandate Tax (takes effect Jan. 2014): 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 $2000 for all full-time employees. Applies to all employers with 50 or more employees. If any employee actually receives coverage through the exchange, the penalty on the employer for that employee rises to $3000. 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). Bill: PPACA; Page: 345-346
Combined score of individual and employer mandate tax penalty: $65 billion/10 years
(Excerpt) Read more at atr.org ...
ANYONE making less than $250,000/year will NOT see a penny of a tax increase!
Was that a dog farting or a duck quacking?
Soon we’ll look back at 10% unemployment as the good old days.
The stink is the same...
Thanks for the link/report. Obama lied, the middle class died.
Now it’s a ‘penalty’ that cost us out the azz coming in yearly increments.
However, I do know that we will be paying higher taxes on IRA distributions that we ‘have’ to take at age 70.
That’s just one thing and that will effect a lot of senior citizens who use there distributions for needed income to pay all the rising premiums etc.
Now we also get to pay an abortion feeexcept the ones that get ‘waivers’ because they will not be required buy insurance .&%$#%^%#
The plan is to eventually get everyone on government insurance so they can control us even more. Even then we will be forced to pay but get nothing in return.
The leftist dumbazzes who voted for the devil and went for this crap will suffer also. heehee
Health-Reform is Constitutional: Here are the Tax Implications
not “tax”, but many taxes.
Obama Admin. Actuary Finds Unsustainable Status Quo Cheaper than Obamacare
The two reasons they gave for the “overhaul” to healthcare: “to cut costs” - NOPE ,costs will go up actually. “to insure everyone” - NOPE, 10s 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?