- Special Sections
- Public Notices
Besides using $716 billion from Medicare, the Obamacare law adds 21 new taxes to the American taxpayer. Seven of these new taxes will apply to taxpayers in the middle class. That means you and me. The new health-care law raises taxes on working families by $502 billion.
On Jan. 1 if you make more than $200,000 and you sell your house, you will have to pay sales taxes of 3.8 percent; not the buyer but the seller pays. The individual mandate tax will cost between $685 and $4,700 depending on your income.
The medicine-cabinet tax will take away your reimbursement for over-the-counter drugs except for insulin and supplies.
Your deduction for medical costs will rise from 7.5 to 10 percent on your federal tax return. There will now be a cap of $2,500 per year on your flexible spending accounts. It was unlimited.
There will be a 10-percent excise tax on everyone using an indoor tanning salon.
Anyone who has health insurance paid by their employer will have to pay a 40-percent tax on the premium amount. This won’t start until 2018 in order to spare union workers for a few years. Approximately 20 million will lose their employer-paid health care by this date.
A medical-device tax of 2.3 percent will be imposed for any item costing more than $100.
Investment-income taxes will rise from 15 to 23 percent on households of $250,000. Small-business taxes will rise from 35 to 43 percent on investment income.
Obamacare forces everyone to pay for abortions, even partial-birth abortions, regardless of their religious objections.
Obama said he would never tax the middle-income working families. He lied.