Democrats propose 2.1 trillion in new taxes, Maybe you should at least read this review of those taxes before accepting Obama's claim that he would not raise taxes on the middle class, not by "a single dime."


In addition to the following 1.1. trillion dollar tax increase due to Obama Care,  the Democrats in their first budget proposal in four years,  are proposing an additional 1 trillion in new taxes,  all of which will go to finance new government spending.  Paul Krugman,  the Democrat’s macro-economist from Hell,  tells those who still think he is relevant,  that the US has an infinite source of money,  and the Socialist Democrats are proposing spending increases as if that were true. 

In addition to the recent budget proposal,  mentioned above,  here is an incomplete listing of new taxes due to Obama Care,  bringing the new tax burden to the American people by the Democrat Majority to a disturbing 2.1 trillion dollars with no appreciable spending cuts at all. 

The tax burden of ObamaCare is now estimated at $1.058 trillion and rising, an increase from the initial $569 billion estimate produced at the time of the passing of the law, two years ago.   Owners of small businesses will be hit the hardest, facing both a tax increase on self-employment income and the employer mandate. The tax increase may force some small businesses to shut down or fire workers and raise prices. Certainly,  the rush to transition from full-time to part-time is well under way,  reducing personal income and making life increasingly more difficult for the poor and working middle class. 

You should understand this rate of tax increase could count for more than 5 trillion in additional taxes for the coming decade

In addition to the actual tax burden  some experts estimate a loss of in productivity,  as well,  costing the economy some 120 million hours of productivity;  increased costs  in labor,  over-time, and benefits because of ObamaCare mandates are responsible for this circumstance.   

Taxes related to ObamaCare and included in the [above] 1 trillion dollar tax increase include:  

1.0 percent payroll tax on wages and self-employment A "Cadillac tax" on high-cost plans ($111 billion in new taxes ).

The employer mandate will cost an estimated $106 billion and the individual mandate will cost an estimated $55 billion.  These are taxes on those who do not buy into ObamaCare. 

A new 3.8 percent tax on dividends, capital gains and other investment income will cost an estimated $317.7 billion,  increasing the dividend tax for the current 15% to 28% in a single annual transaction. 

There is a new annual tax on health insurance providers will cost an estimated $101.7 billion

ObamaCare assesses an annual tax on drug manufacturers and importers  that will cost an estimated $34.2 billion.

A 2.3 percent excise tax on medical device manufacturers and importers will cost an estimated $29.1 billion.  This comes out the bottom line of these manufacturers,  who often carry a bottom line profit margin of as little as 6%. 

ObamaCare limits flexible spending accounts in cafeteria plans costing businesses an estimated $24 billion.

Raising the adjusted gross income floor on medical expenses from 7.5 percent to 10 percent will cost an estimated $18.7 billion.

Increasing the penalty for nonqualified health savings accounts (HSA) distributions will cost an estimated $4.5 billion.

Limiting HSAs from purchasing over-the-counter medicines will cost an estimated $4 billion.

Sources: Midknight Review and Andrew Lundeen, "Obama Tax Increases Will Impact Us All," Tax Foundation, March 5, 2013.

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