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ObamaCare includes so many taxes that it's hard to keep track, but one of the worst takes effect on Jan. 1. This beaut is a levy on health insurance premiums that targets the small business and individual markets.
At $8 billion in 2014 and $101 billion over the next decade, the insurance tax is larger than ObamaCare's taxes on medical devices and prescription drugs combined.
At $8 billion in 2014 and $101 billion over the next decade, the insurance tax is larger than ObamaCare's taxes on medical devices and prescription drugs combined. The IRS collects an annual flat amount specified by the Affordable Care Act to be allocated among the insurers according to market share.
But not all markets. IRS regulations published in November excluded "any entity that is a self-insured employer to the extent that such employer self-insures its employees' health risks."
This political selectivity means the most gold-plated public, private and labor plans are exempt and the tax burden falls on the saps who work for small businesses, the self-employed and individuals—i.e., the people who can least afford it.
The Congressional Budget Office reports the tax will be "largely passed through to consumers in the form of higher premiums" and "would ultimately raise insurance premiums by a corresponding amount.
The supreme court upheld Obamacare today, saying: 'Congress had the power to impose the exaction in Section 5000A under the taxing power, and that Section 5000A need not be read to do more than impose a tax. This is sufficient to sustain it.' President Obama is on the record saying the mandate in Obamacare is NOT a tax.
Bassago
And there you have it. The IRS assesses a "fee" on insurers who pass it on to businesses and consumers (that are not exempted of course) and the consumer takes another hit. Viola` redistribution of wealth from those who can't afford it.
TDawgRex
reply to post by Bassago
I swear to God I am surrounded by idiots. The same idiots that our forefathers warned us about.
For the first time in my life. I am ashamed to be an American.
I'm running for office guys and gals. I promise every male 2 wives, ever female free shoes, and every child free schooling for life.
Oh and no more taxes!
Can i count on your vote?
Bassago
reply to post by shaneslaughta
I'm running for office guys and gals. I promise every male 2 wives, ever female free shoes, and every child free schooling for life.
Oh and no more taxes!
Can i count on your vote?
Well they fell for hope and change and free healthcare. You should be a shoe-in.
Oh, you do have the required globalist multinational corporate sponsor right?
Bassago
This whole thing is a lie based on falsehood and deception. Hopefully implosion will occur soon and we'll be done with it.
ausername
The time to stop this thing came and passed with the passage and signing into law.
TDawgRex
reply to post by Bassago
To paraphrase...
For the first time in my life. I am ashamed to be an American.
I swear to God I am surrounded by idiots. The same idiots that our forefathers warned us about.