Posted by Tina.
The President promised during the campaign that he would not raise taxes on people making less that $200,000.00. The newly passed health care bill makes him a liar. It includes taxes and fees that will hit all Americans…some of them the most vulnerable. The following is a list of a few:
1. Individual mandate to buy insurance or pay a fee (tax of 2.5% of income or $659.00)
2. Tanning bed tax of 10%
3. Limits and penalties on Health Savings accounts
4. Annual Tax on health care providers (will result in higher prices – hidden tax)
5. 40% Tax on high cost (%10,200.00) insurance plans except for unions exempt up to $27,500.00.
6. Annual tax on drug and medical device manufacturers (will result in higher prices passed on to consumer – hidden tax)
7. Taxes on dividends and interest income.
These examples represent only a portion of the new taxes coming our way. Number six above is particularly cruel. Higher prices due to punishing taxes on medical device makers will deeply effect the disabled, including children and returning veterans. People can forego a tan or just tan outside if that tax really bothers them but a family with a growing disabled child will be faced with higher prices for the equipment they must buy year after year, an extra burden that is . truly heartless and ugly.
Also let us not forget that the Bush Tax cuts expire this year! Bush tax cuts effected every tax bracket so every taxpayer will feel the pinch of this change. Once again families will be hit hard because the deduction per child is lowered.
Many of us knew the claim by the President was just an empty campaign promise made to buy votes. He had no intention of extending the Bush tax cuts, for one thing, and his interest in expanding the size of government would result in a need for higher revenues. Government doesn’t create wealth. Their only source of money is YOU. Your President lied to YOU; what will you do about it?