List of Obamacare Taxes Repealed

The U.S. House passed their version of a new health care bill.

Many changes, but some are actually tax reductions in several forms.

Obama.Care added many new taxes.

The new plan goes to the Senate now for changes, and then back to the House.

Look at all the taxes !

Who wins? Who loses?

How are YOU affected?

List of Obamacare Taxes Repealed

-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.

Who wins? Who loses?

I think we lost the budget battle to bring us this news today.

A pawn fell but the game is still on.

a reply to: xuenchen

Winner for us! We pay taxes you see and have been impacted by several of those fool things.

I believe this will be a big win for pension funds that have been hit hard by Obamacare. I know the Kentucky Teachers Retirement System took a big hit that they couldn't afford. This won't cure what ails that system but it could help. I'm pretty sure a lot of other retirement systems took the same hit.

I'll eat my underwear if this passes as is.

Too much government, too much greed and corruption.
If that can't bend it around in such a way that it bends is over, they'll ban it.

a reply to: xuenchen

makes you wonder what new taxes are gonna be in the new bill if it passes. they got to make up the cash somewhere. might be listed different but the taxes have to be there or the evil greedy people stealing my money wont be happy.

Wow, I didn't realize there were so many different taxes being levied to support Obamacare. Spread it all out so nobody can see what is happening, the money for the subsidies comes from somewhere, it doesn't just appear out of nowhere.

The strange thing, my daughter had BCBS insurance before for around two thirty a month and she applied for Obamacare and was accepted. Her premium is a little higher now, a little over three hundred but there are a few things extra it does cover. But the government is paying the rest, why are taxpayers paying the balance, over six hundred bucks more than she used to pay for almost this same coverage. Where is that money actually going, the insurance companies got a two hundred percent markup. Obamacare is a scam.

a reply to: neo96

a reply to: xuenchen

If this new plan simply removes the individual mandate (item 1), then I am all for it!

Healthcare in the US is moving toward government-provided healthcare. In many ways, that scares me; the Federal government doesn't exactly have a stellar record of efficiency nor effectiveness when they undertake a task. But the truth is that there are only two alternatives: yes or no. Either take healthcare over completely, removing all health insurance from the equation, or step back and let the free marketplace handle things. Every attempt at maybe, at trying to heavily regulate the industry without completely taking it over, has led to abuse of the industry.

Self-regulation does not seem to be a possibility; public sentiment appears to be 100% against it. So the only option the country can accept is single-payer universal coverage. I hope it works as well as many claim it will.

TheRedneck

All I want to see is the "fine" imposed if you have no insurance abolished. Its a "tax" in the most ridiculous terms. If that's the individual mandate, or if it's one of the other insane taxes put on with the ACA, then I am all for abolishing them.

Anybody remember when Obama promised multiple times not to raise any taxes on families making under $250k a year? Anybody? There's a whole list of Obama's broken promises (or lies, whichever).

a reply to: rickymouse

The first year I was on O-care, BCBS had a breakdown....how much was my actual premium.....how much was tax added on.
The premium was about $140. and the tax was $50.....that is Fifty dollars more.
That was the tax charged by ACA to the insurers...that they were allowed to pass on the consumer.

originally posted by: DontTreadOnMe
a reply to: rickymouse

The first year I was on O-care, BCBS had a breakdown....how much was my actual premium.....how much was tax added on.
The premium was about $140. and the tax was $50.....that is Fifty dollars more.
That was the tax charged by ACA to the insurers...that they were allowed to pass on the consumer.

You are only talking about our copay and the insurance company buying into the network, the fifty bucks is the fee. The government uses that fee money and other taxes to subsidize the program, the whole cost of the insurance is way more than that. The average subsidy per person comes out to about five grand a year I think. On top of that you add your contribution plus the fifty bucks. which totals about 2500 bucks a year in your case. So you would probably be in about the middle of the Obamacare class I feel, many people pay nothing while others pay up to a grand a month. All for similar coverages.

Here is a fact checker, but you have to understand, this figure is what it costs the government average, it does not include what you pay in. If you make around seventy grand a year, the cost of a silver plan at sixty years old is 1800 per month, our Blue cross with all the bells and whistles as supplied by my wife's employer was only around eleven hundred bucks a month if we were not retired already, she still gets all that info. The BSBS insurance has dental and eyeglass and prescription drug on it, way better coverage at six hundred bucks a month less at that rate. At a family income of fifty grand we would only be paying 400 out of pocket, the government would pay the rest.

Obamacare is such a scam, I wonder where that money is actually going? Things do not add up, the Republicans in congress know what is going on, but they won't tell us everything. Play with this site. kff.org...

Remember the fact checker cleared up a myth of fifty grand but in fact the eighteen hundred and fifty buck per month overall price tag of the silver plan is way too high. Multiply that by twelve for a yearly average cost, something is really wrong with that figure.

a reply to: xuenchen

Nice, another bull# thread by you.

Let's look at some of these claims...

Obamacare's "Medicine Cabinet Tax":

$5 Billion: Medicine Cabinet Tax (Took effect Jan. 2011): Americans no longer able to use health savings account (HSA), flexible spending account (FSA), or health reimbursement (HRA) pre-tax dollars to purchase non-prescription, over-the-counter medicines (except insulin). Bill: PPACA; Page: 1,957-1,959

Hmm that doesn't sound like a tax to me.

Obamacare's "Chronic Care Tax":

$15.2 Billion: High Medical Bills Tax (Takes effect Jan 1. 2013): Currently, those facing high medical expenses are allowed a deduction for medical expenses to the extent that those expenses exceed 7.5 percent of adjusted gross income (AGI). The new provision imposes a threshold of 10 percent of AGI. Waived for 65+ taxpayers in 2013-2016 only. Bill: PPACA; Page: 1,994-1,995

A 2.5% increase in the threshold for a tax deduction - also note the $15.2 billion vs the article's inflated $126 billion.

Obamacaer's "Obamacare Individual Mandate Tax" and "Employer Mandate Tax":

$65 Billion: Individual Mandate Excise Tax and Employer Mandate Tax (Both taxes take effect Jan. 2014):

Individual: Anyone not buying “qualifying” health insurance as defined by Obama-appointed HHS bureaucrats must pay an income surtax according to the higher of the following
2014 higher of: 1% AGI or $95 per adult up to 3x
2015 higher of: 2% AGI or $95 per adult up to 3x
2016+ higher of: 2.5% AGI or $695 per adult up to 3x

Exemptions for religious objectors, undocumented immigrants, prisoners, those earning less than the poverty line, members of Indian tribes, and hardship cases (determined by HHS). Bill: PPACA; Page: 317-337

Employer: If an employer does not offer health coverage, and at least one employee qualifies for a health tax credit, the employer must pay an additional non-deductible tax of $2000 for all full-time employees. Applies to all employers with 50 or more employees. If any employee actually receives coverage through the exchange, the penalty on the employer for that employee rises to $3000. If the employer requires a waiting period to enroll in coverage of 30-60 days, there is a $400 tax per employee ($600 if the period is 60 days or longer). Bill: PPACA; Page: 345-346

An actual tax cut, but the estimate back then was for $65 billion instead of the $270 billion they list now.

Obamacare's "Surtax on Investment Income":

$123 Billion: Surtax on Investment Income (Takes effect Jan. 2013): A new, 3.8 percent surtax on investment income earned in households making at least $250,000 ($200,000 single). This would result in the following top tax rates on investment income:

Capital Gains: 15% (2012) to 23.8% (2013+)
Dividends: 15% (2012) to 43.4% (2013+)
Other*: 35% (2012) to 43.4% (2013+)

*Other unearned income includes (for surtax purposes) gross income from interest, annuities, royalties, net rents, and passive income in partnerships and Subchapter-S corporations. It does not include municipal bond interest or life insurance proceeds, since those do not add to gross income. It does not include active trade or business income, fair market value sales of ownership in pass-through entities, or distributions from retirement plans. The 3.8% surtax does not apply to non-resident aliens. (Bill: Reconciliation Act; Page: 87-93)

This is an actual tax, only on people earning $200k (or $250k married) already; that's in the top 5% of households. They now claim it's $172 billion claim instead of $126 billion, which given there U.S. household count means 6,291,000 would fall under the effect of this tax, paying an average of $27,340/yr. I reckon most of those 5% aren't though, since the top 1% threshold is around $450,000, and most of them likely earn wages.

A mixture of actual taxes and not really taxes that they're calling taxes anyway.