ObamaCare's New Taxes 'A Perfect Storm'

The conclusion here is that the people will see how much they are paying in new taxes and rebel against ObamaCare's new taxes. How foolish! The few that can actually read and understand their pay stub will in fact freak out when they see how much is actually taken out of their checks, but the majority will just roll over and wait to take the next kick in the head and wallet. 

Also, those that have direct deposit will not have a clue what they are paying in new taxes as they never go on-line to check what difference there is in their income, much less stop in at the bank or credit union to check. Most just go to the ATM for cash costing10% or more, then head out for life in the fast lane texting to the tune of hundreds of dollars per month.

Life is good - Everything is free, and to make sure it stays that way, allwe have to do is keep voting progressive Democrat. It worked great for the last 4 years, the next 4 will be even better as Obama promised us more of everything for nothing. He just said he will take all the money he needs to pay for all the free stuff from all those that are still working and give to those that aren't.

Oah Oh - wait a minute - I'm still working - maybe I should check my pay stub next week to see how much I'm giving in charity. Hey, hey this is right!! Who said they could that all this money away from me? I voted like I was supposed to.     Suckers!

As 2013 Begins, Get Ready For an ObamaCare Tax Onslaught
January 15, 2013
Source: Grace-Marie Turner, "As 2013 Begins, Get Ready For an ObamaCare Tax Onslaught," Forbes, January 1, 2012.

Given all the debate there has been over the fiscal cliff, many people have given little attention to the ObamaCare tax onslaught. The third wave of ObamaCare taxes began on January 1, the latest blitz before the tsunami of changes from the health overhaul law hits in 2014, says Grace-Marie Turner, president of the Galen Institute.

The most controversial tax is the medical device tax, which will affect firms that make important medical equipment.

• The tax will impose a 2.3 percent on profit from gross sales, even if the company has no profit at all.
• It is expected to collect about $29 billion over the next 10 years, which will hurt research and development.
• The medical device industry employs 400,000 people in 12,000 factories across the countries, but many companies say the tax will force them to relocate overseas.

Other ObamaCare taxes include:

• Surtax on investment income -- individuals making $200,000 or more annually, or couples making $250,000 or more, must pay a new 3.8 percent levy on income from investments, including profits from the sale of a home.
• Medicare tax -- The same group of people will have their Medicare payroll tax increased to 3.8 percent.
• Flexible Spending Account tax -- sets a $2,500 cap on how much workers can set aside for tax-free medical costs.
• Furthermore, itemized medical deductions will be tightened. The threshold for allowed deductions will increase from 7.5 percent to 10 percent.

Altogether, the tax increases amount to an approximate $1 trillion. Nearly every industry is affected as well, from health insurers and drug companies to even tanning salons.

As more of the regulations get implemented and taxpayers see how much they have to pay over the next couple years, there is hope that there will be new attempts to delay or get rid of the law altogether.