Posted on 10/08/2013 4:58:38 AM PDT by lbryce
Get ready to be blindsided by a barrage of new taxes. $1 trillion worth...
They'll be coming courtesy of the Affordable Care Act, otherwise known as Obamacare.
And they won't just be affecting those who make over $250,000. The bulk of these taxes will be passed on directly to the middle class.
That's because while a majority of these "stealth taxes" were designed to be taxes on businesses, they're actually transferred directly to ordinary citizens.
They include the investment income surtax, a Medicare payroll tax, even a "tanning tax" on those who utilize indoor tanning services.
"Many of those [hidden] taxes, especially those on hospitals, insurers and medical device manufacturers, will ultimately be passed on through higher health costs," said Michael Tanner an expert on the healthcare law.
In fact, analysts estimate Obamacare will cost the average taxpayer nearly $6,000 in extra taxes as early as next year.
Obamacare Tax Hikes Stoke Outrage Many of the Obamacare taxes are already in effect, others will hit January 1. But they are already infuriating millions of Americans.
While even Obamacare detractors applaud the requirement that insurance companies cover pre-existing conditions and put a stop to lifetime caps on benefits, they say these laudable benefits don't compensate for the bills high cost - especially in new taxes.
According to most experts, Obamacare will create a total of twenty new taxes or tax hikes on the American people.
In fact, the Obama administration has already given the IRS an extra $500 million to enforce the rules and regulations of Obamacare.
The new taxes don't bode well for millions of middle-class Americans. Incomes for the rich have soared this decade but middle class workers have seen their wages stagnate and even drop since the 2008 Great Recession.
Many fear Obamacare with its high insurance costs and new taxes, could provide the middle class a fatal blow
Of course, the Obamacare plan was primarily designed to decrease the number of uninsured Americans and reduce healthcare costs.
Many experts are saying it will have the exact opposite effect.
That's just one of the reasons why Republicans hope to defund Obamacare before January.
They claim that the taxes and costs needed to pay for Obamacare will crush the middle class and most U.S. taxpayers, as well as trigger job losses in affected industries.
Tax experts say you should try to estimate how much you will have to pay when the law goes into full effect - and take precautions to limit the damage to your bottom line.
One expert, Dr. Betsy McCaughey, a constitutional scholar with a Ph.D. from Columbia University, recently wrote a best-seller showing Americans how they can not only survive Obamacare, but prosper through it.
McCaughey claims to be one of the only people in the country - including members of Congress - who has actually read the entire 2,572 page law.
Her book, titled Beating Obamacare: Your Handbook for Surviving The New Health Care Law, breaks the huge bill down into 168 pages of actionable advice.
According to McCaughey's research, senior citizens will get hit the hardest.
As a courtesy, Money Morning is giving readers a free copy of Betsy McCaughey's new book Beating Obamacare: Your Handbook for Surviving The New Health Care Law. But only a limited number of copies are available. Please go here to reserve yours today.
“the Obamacare plan was primarily designed to decrease the number of uninsured Americans and reduce healthcare costs.”
Absolutely not! It was designed to do exactly what it’s in process of doing. Totally restructuring the economy so massive amounts of money flow from the producers to the slackers who vote democrat.
Slightly off topic but just wanted to say that there has NEVER EVER been a dime of taxes paid by any business.
Taxes are paid by the shareholders or by the customers. The private citizen is the only tax paying entity in this ( or any) country. The cost of any tax ALWAYS gets borne by the individual citizen.
“What I would like to know is exactly WHO was the author of this so-called “Affordable Care Act”.
Probably the pharmaceutical and insurance companies and their minions.
No one can afford it. That's the point.
Obama and his Democrats want to force Americans to get their "health care" from the federal government -- in other words, from the Democrat Party. It's all about the marxist Democrats literally having life or death control over Americans. Particularly over Americans they consider enemies of The Party.
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