How ObamaCare Will Empty Your Pockets

Published Date Author: , Posted July 8th, 2012 at 8:56:06am

Another in a long line of betrayals, the Obamacare program boosts taxes and reduces your ability to take care of your family, to the tune of $250 BILLION over the next ten years.

How nice of Obama and his cronies to steal that much money ($25 billion per year) from the American public:

Below I have summarized the five points in the linked article above:

1. The ObamaCare Medical Device Manufacturing Tax – a 2.3 percent tax on medical device makers is expected to take $20 billon in taxes from our economy and give it to the government over the next 10 years.

2. The ObamaCare High Medical Bills Tax – Currently, one may deduct medical expenses on their 1040 form to the extent the costs exceed 7.5 percent of one’s adjusted gross income. The new ObamaCare provision will raise that threshold to 10 percent. Over the next ten years, we will pay an additional minimum of $15 billion in taxes.

3. The ObamaCare Flexible Spending Account Cap – These pre-tax accounts, which currently have no federal limit, will now have a federally imposed $2,500 annual cap. This cruel tax provision will limit the options available to all families, all so that the federal government can squeeze an additional $13 billion out of taxpayer pockets over the next ten years.

4. The ObamaCare Surtax on Investment Income – ups the top capital gains rate to 23.8 from 20 percent and top dividend rate to 43.4 from 39.6 percent. This tax will take a minimum of $123 billion out of taxpayer pockets over the next ten years.

5. The ObamaCare Medicare Payroll Tax increase – collects $86 billion from employers over the next ten years.


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