2014 will give Americans their first taste of the biggest tax-hike in a generation and Obama couldn’t be happier because we’re all going to blame it on Insurance companies.
Sure Obamacare is about a path to expand Medicaid and institute a single-payer system. It’s all about citizen-control at its core, the dream of a socialist, idealist President, but the most devastating and immediate effect will be the massive tax increase the ‘Affordable’ Care Act contains, like enemy soldiers in a Trojan horse.
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Because it is politically vital to hide tax increases from the Sainted Middle Class, much of this burden is hidden as pass-through taxation – you think your premiums are increasing, but it’s really an income redistribution scheme with the tax burden laid on insurance providers, who pass it along to you. This has the enormous political benefit of diverting public anger over increased premiums against the insurance providers, rather than the government, which is something the former should have considered more carefully before hopping into bed with the latter, visions of mandatory commerce dancing in their heads.
ObamaCare also includes quite a few explicit tax increases, which were delayed until they would not jeopardize Barack Obama’s re-election campaign. The most obvious of these taxes is the individual mandate – certified as a 100 percent bona fide tax by the Supreme Court, in the decision that allowed ObamaCare to exist at all. President Obama has seized the extraordinary new power to selectively delay this tax for certain people – a precedent that will prove interesting if the next President also wishes to waive taxes by executive fiat. Perhaps we should add a fourth core component of ObamaCare: it rewrote the Constitution, in the manner of a computer virus corrupting an operating system.
Some users are definitely going to see the individual mandate tax hike in 2014 and that’s not the only increase. It’s going to sting. The New York Post reported some of the tax increases that slipped out:
Most insurers aren’t advertising the ObamaCare taxes that are added on to premiums, opting instead to discretely pass them on to customers while quietly lobbying lawmakers for a break.
But one insurance company, Blue Cross Blue Shield of Alabama, laid bare the taxes on its bills with a separate line item for “Affordable Care Act Fees and Taxes.”
The new taxes on one customer’s bill added up to $23.14 a month, or $277.68 annually, according to Kaiser Health News. It boosted the monthly premium from $322.26 to $345.40 for that individual.
The new taxes and fees include a 2 percent levy on every health plan, which is expected to net about $8 billion for the government in 2014 and increase to $14.3 billion in 2018.
There’s also a $2 fee per policy that goes into a new medical-research trust fund called the Patient Centered Outcomes Research Institute.
Insurers pay a 3.5 percent user fee to sell medical plans on the HealthCare.gov Web site.
Well, at least you can still rely on some tax deductions if you do end up having to pay for medical expenses, right? Unfortunately, President Obama is not above kicking people when they are down:
Americans also will pay hidden taxes, such as the 2.3 percent medical-device tax that will inflate the cost of items such as pacemakers, stents and prosthetic limbs.
Those with high out-of-pocket medical expenses also will get smaller income-tax deductions.
Americans are currently allowed to deduct expenses that exceed 7.5 percent of their annual income. The threshold jumps to 10 percent under ObamaCare, costing taxpayers about $15 billion over 10 years.
No wonder Obama is looking forward to 2014! He will get to watch his government reap the fruits of his massive deception of the American public, while bewildered citizens crushed by a new burden of stealthy taxes lash out at health insurers, the GOP, and basically anyone but him.