Skip to comments.Obamatax's 'HIT' on Small Businesses and Families
Posted on 07/10/2012 7:31:52 AM PDT by KansasGirl
Unfortunately, the tax policies in the presidents signature health-care law ignore this advice. The Supreme Courts decision last week does not change the fact that the scandalous new tax on life-saving medical devices (of all of the new taxes tucked into the law) had received the most prominent attention prior to the Supreme Courts ruling, most notably when the House recently voted to repeal it.)
As we continue to review last weeks sweeping decision and its consequences for the American people, it is worth taking stock of Obamacare, perhaps now better named Obamatax, starting with a less-well-known $87 billion tax buried in the law that could force families to pay an extra $500 a year in premiums. The tax is described in the law as an annual fee levied on insurance companies. Actually, the fee is really just a tax by another name the health-insurance tax, or HIT, in this case. Tax economists inside and outside government agree that the bulk of new fees and taxes are simply passed by businesses on to their customers, which, as well see, in this case are small employers and families. Unless this tax is repealed, it will soon force families and small businesses to pay even more for their coverage.
Heres how it works: The law taxes health plans based on their net premiums. Bigger health plans pay more, small plans pay less or at least thats how it sounds. But the laws definition of a health plan excludes companies that self-insure. This means that Fortune 500 companies and other large firms who self-insure dodge this tax, leaving the brunt of the tax to fall on small businesses and families.
(Excerpt) Read more at nationalreview.com ...
Did not ObamaIdiot assert it only effects 3% of them? You people need to get with the damn program. /sarcasm =.=
KansasGirl, We are lucky to live in KS where we have good elected officials like Roberts, Moran, Yoder,Hueslhoff, and Jenkins. But across from KS you have Missouri and we need to help the Missourians defeat Obama in 2012 and Air Claire. It must be the mission of all of in KS to help rid the State of Missouri of their Rat population in 2012.
We have way too many RINOs at the state level in KS though.
Good thing Idi Obama is calling for extending the Bush Tax Cuts.
Oh, wait! Isn't that what got the economy into such a bad mess to begin with?
But, the good news is, people making under $250,000 will not have ANY increase in taxes taken from their paychecks.(File this under: Check is in the mail. I'll respect you in the morning.)
Bad news is, under Idi Obama there are a Hell of a lot more people who no longer have paychecks.
More good news! over 80,000 new jobs were created in June!
Bad news is, those 80,000 new jobs have to be divided by 1,781,000 new college graduates. Plus the newly unemployed. Plus high school graduates.
But Obama said he cut taxes for small businesses 18 times -
“This time, the president portrayed the move as benefiting the overwhelming majority of business owners. “This isn’t about taxing job creators. This is about helping job creators. I want to get them relief,’’ Obama said. “The proposal I make today would extend these tax cuts for 97 percent of all small-business owners in America Folks who create most new jobs in America are America’s small-business owners, and I’ve cut taxes for small business owners 18 times since I’ve been in office.’’