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Apr 16, 2010 22:45

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Democrats Have Increased Taxes by $670 Billion and Counting…


...
TOTAL = $670.341 BILLION AND COUNTING…
* VIOLATES PRESIDENT’S PLEDGE TO NOT INCREASE TAXES ON MIDDLE CLASS

Health Care Bill (Public Law 111‐148 / Public Law 111‐152)
New tax on individuals who do not purchase government‐approved health insurance * $17 BILLION
New tax on employers who fail to fully comply with government health insurance mandates * $52 BILLION
New 40% excise tax on certain high‐cost health plans * $32 BILLION
New ban on the purchase of over‐the‐counter drugs using funds from FSAs, HSAs and HRAs * $5 BILLION
Increase the Medicare tax on wages and self‐employment income by 0.9% and impose a new 3.8% surtax on certain investment income (for individuals over $200,000 and couples over $250,000) $210 BILLION
Increase, from 7.5% to 10% of income, the threshold after which individuals can deduct out of pocket medical expenses * $15.2 BILLION
Impose a new $2,500 annual cap on FSA contributions * $13 BILLION
New annual tax on health insurance * $60.1 BILLION
New annual tax on brand name pharmaceuticals * $27 BILLION
New 2.3% excise tax on certain medical devices * $20 BILLION
New 10% tax on indoor UV tanning services * $2.7 BILLION
New tax on insured and self‐insured health plans * $2.6 BILLION
Double the penalty for non‐qualified HSA distributions * $1.4 BILLION
Eliminate the deduction for expenses allocable to Medicare Part D subsidy $4.5 BILLION
Limit the deduction for compensation to officers, employees and directors of certain health insurance providers $0.6 BILLION
Require information reporting on payments to corporations $17.1 BILLION
Impose additional requirements for section 501(c)(3) hospitals $0.4 BILLION
Make “black liquor” ineligible for cellulosic biofuel producer credit $23.6 BILLION
Codify economic substance doctrine and impose penalties for underpayments$4.5 BILLION
Other revenue effects $60.3 BILLION

obamacare

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