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Obamatax's 'HIT' on Small Businesses and Families
The National Review ^ | 7/10/2012 | Richard Burr & Tom Coburn

Posted on 07/10/2012 7:31:52 AM PDT by KansasGirl

--snip--

Unfortunately, the tax policies in the president’s signature health-care law ignore this advice. The Supreme Court’s 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 Court’s ruling, most notably when the House recently voted to repeal it.)

As we continue to review last week’s 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 we’ll 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 Unless this tax is repealed, it will soon force families and small businesses to pay even more for their coverage.

Here’s 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 that’s how it sounds. But the law’s 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 ...


TOPICS: Business/Economy; Front Page News; Government; News/Current Events
KEYWORDS: 2012; bhofascism; democrats; fraud; nobama2012; obama; obamacare; obamatax; obamatruthfile; socialisthealthcare; taxes

1 posted on 07/10/2012 7:31:58 AM PDT by KansasGirl
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To: KansasGirl

Did not ObamaIdiot assert it only effects 3% of them? You people need to get with the damn program. /sarcasm =.=


2 posted on 07/10/2012 7:37:41 AM PDT by cranked
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To: KansasGirl

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.


3 posted on 07/10/2012 7:56:05 AM PDT by ncfool (OMG 2012)
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To: ncfool

Agree completely!

We have way too many RINOs at the state level in KS though.


4 posted on 07/10/2012 8:00:08 AM PDT by KansasGirl
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To: KansasGirl
Wow!

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.

Oh, well.

5 posted on 07/10/2012 8:12:42 AM PDT by N. Theknow (Kennedys=Can't drive, can't ski, can't fly, can't skipper a boat, but they know what's best for you.)
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To: KansasGirl

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.’’

http://www.necn.com/07/09/12/Obama-Tax-breaks-for-97-of-small-busines/landing_business.html?blockID=737730&feedID=4209


6 posted on 07/10/2012 8:22:17 AM PDT by ilovesarah2012
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To: KansasGirl
The HHS mandate is really a tax.

And the IRS will levy this tax on every Catholic school, hospital, and soup kitchen in the United States.

How much is this Obamacare tax?

It's $100 per day, per employee. That's $36,500 annually -- for every employee. There isn't a single Catholic school anywhere in America that can afford this massive tax.

Rep. Jim Sensenbrenner, R-WI, just authored a new bill today to remedy this. It's called the Religious Freedom Tax Repeal Act.

Call your Representative today at 202-224-3121.


Urge them to co-sponsor the Sensenbrenner bill, which will stop the tax on religious freedom!

Why is it so urgent for Catholics to support this bill and stop the notorious HHS tax on religious freedom?

Because as Justice John Marshall once famously said: “The power to tax involves the power to destroy.”

And a $36,500 yearly tax on every employee is a recipe for destroying our cherished Catholic institutions. Now that the Supreme Court gave Obamacare a pass, religious schools and hospitals are counting on you to fight for their freedom.

Pick up the phone. And please call today.



7 posted on 07/10/2012 5:00:32 PM PDT by Salvation ("With God all things are possible." Matthew 19:26)
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