The truth of how corrupt Obamacare is. Our Dictator Obama knew exactly what he was doing to hurt Americans please read. Most people have no idea because it’s not reported. ~ H.C.
If what I’ve seen on social media the last day or two is any indication, most people really think ObamaCare is nothing more than “we give you health insurance.” People have no concept for what might be wrong with the law, or what might be negative about it, or what kinds of problems it might be causing. They really think it’s nothing more than the benevolent government telling mean old health insurance companies they can’t turn you down and they can’t charge you too much.
Some of that has to be laid at the feet of the media, who don’t report everything the law does. Some of it is because people aren’t that interested in the details.
But in case you didn’t know it, ObamaCare was one of the biggest tax increases in the history of this country – and the taxes it imposed were myriad. The House bill that passed yesterday – if it or something like it becomes law – will repeal all those taxes. And since the media won’t tell you what all these taxes are, we will, with information drawn from Americans for Tax Reform. The dollar figures listed are over 10 years. The AHCA:
– Abolishes the Obamacare Individual Mandate Tax which hits 8 million Americans each year.
– Abolishes the Obamacare Employer Mandate Tax. Together with repeal of the Individual Mandate Tax repeal this is a $270 billion tax cut.
– Abolishes Obamacare’s Medicine Cabinet Tax which hits 20 million Americans with Health Savings Accounts and 30 million Americans with Flexible Spending Accounts. This is a $6 billion tax cut.
– Abolishes Obamacare’s Flexible Spending Account tax on 30 million Americans. This is a $20 billion tax cut.
– Abolishes Obamacare’s Chronic Care Tax on 10 million Americans with high out of pocket medical expenses. This is a $126 billion tax cut.
– Abolishes Obamacare’s HSA withdrawal tax. This is a $100 million tax cut.
– Abolishes Obamacare’s 10% excise tax on small businesses with indoor tanning services. This is a $600 million tax cut.
– Abolishes the Obamacare health insurance tax. This is a $145 billion tax cut.
– Abolishes the Obamacare 3.8% surtax on investment income. This is a $172 billion tax cut.
– Abolishes the Obamacare medical device tax. This is a $20 billion tax cut.
– Abolishes the Obamacare tax on prescription medicine. This is a $28 billion tax cut.
– Abolishes the Obamacare tax on retiree prescription drug coverage. This is a $2 billion tax cut.
I don’t know why the usual parlance in Washington is to talk about everything in terms of 10-year windows, but over 10 years that’s $1 trillion in taxes. Over one year it’s $100 billion, which represents roughly 2.5 percent of the entire federal budget. The commensurate spending represents a similar percentage.
Now I would like to see the size of the federal government reduced a lot more than that, but given the chance to knock off 2.5 percent, I’ll take it any day. Especially these particular taxes because they are so pernicious in the different ways they attack everything from your income to your ability to purchase health care services. Even health insurance itself is taxed!
Written by Herman Cain and published at Herman Cain ~ May 5, 2017.
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