Skip to comments.Five major ObamaCare taxes that will hit your wallet in 2013
Posted on 07/06/2012 2:51:16 AM PDT by markomalley
While the individual mandate tax gets most of the attention, the ObamaCare law actually contains 20 new or higher taxes on the American people. These taxes are gradually phased in over the years 2010 (with its 10 percent tanning tax) to 2018 (when the tax on comprehensive health insurance plans kicks in.)
Six months from now, in January 2013, five major ObamaCare taxes will come into force:
1. The ObamaCare Medical Device Manufacturing Tax
2. The ObamaCare High Medical Bills Tax
3. The ObamaCare Flexible Spending Account Cap
4. The ObamaCare Surtax on Investment Income
5. The ObamaCare Medicare Payroll Tax increase
As you can understand, there is a reason why the authors of ObamaCare wrote the law in such a way that the most brutal tax increases take effect conveniently after the 2012 election. Its the same reason President Obama, congressional Democrats, and the mainstream media conveniently neglect to mention these taxes and prefer that you simply move on after the Supreme Court ruling.
(Excerpt) Read more at foxnews.com ...
Taxes are good for the soul!
Obama will launch a massive campaign of singing actresses touting the benefits of a perfect utopian society that will give you perfect teeth, you will never get fat, your children will never be autistic and all your food will be paid by food stamps or EBT.
Personally, I can’t wait to see how the real estate transaction surcharge bolsters the housing market.
That falls under #4 above, investment income. There is a increase in the capital gains tax rate and capital gains will also be subject to Medicare taxes (the entire 3.8% contribution). House sales already subject to capital gains will be subject to the new tax increases.
It should not be an issue for most, as the capital gain (profit) on the sale of the home has to be greater than $500,000 for a married couple filing jointly. Given the state of the real-estate market, very few will be impacted by this.
However, this could have a huge impact on investments in stocks, mutual funds, and other equities. Also, the Medicare tax is now paid on rental income. Plenty of middle income people earn money on rental income.
The good news is this is a tax, and can be repealed by a simple majority in the House, and 51 votes in the Senate, and as a tax/budget item, repeal cannot be subjected to filibuster in the Senate.
We need at least 50 Republican Senators and a Republican President and Vice President, and we can make all of this go away.
With romney’s faltering campaign (look above this thread for an article on big money donors losing confidence in candidate question mark) where are we going to get all of these Conservative republicans? With every passing day... this election slides more towards obama. Look at the polls... look at the trends and listen to the big money donors as they say the same things that I do. This nightmare is going down just like many of us here predicted... and we have been attacked for telling the truth. romney had better get a huge injection of signed Conservative pledges and a set of titanium balls... because IF he wants to win... HE IS GOING TO HAVE TO BEAT obama LIKE A BASS DRUM!
Yeah. You guys have done a pretty good job of killing the Romney campaign from the inside.
Right now it is starting to look like you will help Obama win.
He was never much to begin with, we knew attacks would come from Obama,because back during the primary’s Romney was the one so many Democrats wanted to run against.
There was some belief that maybe we could all vote ABO, and get rid of the Kenyan especially since the Supreme Court kept Obamacare, but you guys have pretty much ruined that.
Looks like we better get used to being a third world country run by the UN.
Romney never wanted to win. Is was never intended for Romney to win. The Republican Party does not want to win. That is the reason that Romney was ordained to be the standard bearer from the getgo. That was the reason that the other Republican candidates such as Herman Cain and others were knocked out particularily if they appeared to be gaining popurality with the people.
Still waiting for Mitt to tell us what he’ll replace Obammycare with when/if it’s repealed.
People want to know what to be FOR, not just against.
Who wants to have 43% of their dividend income taxed?
I hate to have to agree with you, but I do. Our candidate sucks. He has no “base” and will get most of his votes as ABO. Why did the GOP do this to us again???
I kind of like the email going around that says if you sell a $100,000 house, you’ll have to pay $3,800 to the IRS under Obamacare (snicker). I think we should let the math-challenged libs explain this until after the election.
The key word here is VOTES, not just the number of Republicans. We need at least 55 in the Senate to overcome the friggin RINOS.
Call me pessimistic but I've seen this template before.
Because they are as much against us as the communists in the progressive caucus.
They are elitists, the “ruling class”, and will not allow someone not of their own to be elected to the presidency.
Just prepare for the economic collapse that’s coming, sooner rather than later, because of this law and the oppressive debt that they have intentionally saddled the country with.
1) They did it to us AGAIN because we go along with their corruption and manipulation of the primaries and we allow them to destroy Conservative candidates with the wealth and power of the party and when they do... we embrace their progressive drone candidate because we have no other place to go... but the party will change or they will be destroyed as a major party.
2) They did it to us AGAIN because they are actually a progressive party and the despise Conservatives almost as much as they do dims... and some in the leadership are dims in all but name.
Since no Republicans, including RINOs, voted for Obamacare the first go around, I doubt any will now change their vote. It would be political suicide.
Remember Obamacare passed originally by a 60-40 party-line vote in the Senate (every Senate RINO voted against it), and with bipartisan opposition in the House (Every House Republican and 13 House Democrats voted against Obamacare).
It only passed on the final vote (after Ted Kennedy's death, and Scott Brown's election) because reconciliation was used which prevented a filibuster.
In 2010, the Republicans gained six seats in the Senate:
John Boozman voted against Obamacare in the House and is on the record as opposed to Obamacare.
Ron Johnson is on the record as opposed to Obamacare.
Marco Rubio is on the record as opposed to Obamacare.
John Hoeven is on the record as opposed to Obamacare.
Dan Coats is a RINO but is on the record as opposed to Obamacare.
Mark Kirk is a RINO but voted against Obamacare in the House and is on the record as opposed to Obamacare.
Anybody who owns sizable quantities of high dividend paying income stocks should consider if they want to sell before the end of the year.
These taxes will have the usual "unintended" consequences.
Romney wants to win. The reason he won’t is because the election has already been decided by the MSM. They hand picked Romney and at the same time destroyed every Conservative candidate.
Palin was what Conservatives wanted and what America needed. She had everything. The MSM spent 4 years destroying her so this moment would never happen. The fact that they didn’t stop after 2008 should have been a hint.
Unless something dramatic happens between now and the convention, Romney is our candidate. Love him or hate him, that’s the way it is and on November 6 it is your choice. Vote for him or don’t.
If you choose not to vote and Obama wins and they win one or both houses, don’t come back here and whine about it, like many did in 2008.
Name one time I whined.