Health Care BS

Every time the voters are foolish enough to put the Democrats in power, our taxes go up. It happened after Carter took office. It happened again after Clinton took office.  And, true to form, President Obama and the Democrat-controlled Congress are at it yet again.

The only difference this time is in the presentation. Having finally figured out that the voters don’t like taxes, Obama and his accomplices in the Senate have dressed their tax increase in a ”health reform” costume. But beneath the disguise, they’ve hidden the following new taxes:

Individual Mandate Tax: Starting in 2014, anyone not buying “qualifying� health insurance must pay an income surtax of up to $1,485.

Hike in Medicare Payroll Tax: For self-employed idividuals, the Medicare tax jumps from 2.9% to 3.8%. For businesses with employees, a firm’s “matching” Medicare tax jumps from 1.45% to 2.35% of employee salaries.

Employer Mandate Tax: 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 $750 for all full-time employees.

Excise Tax on Comprehensive Health Insurance Plans: Starting in 2013, new 40 percent excise tax on “Cadillac� health insurance plans ($8500 single/$23,000 family).

Medicine Cabinet Tax: No longer allowable 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).

HSA Withdrawal Tax Hike: Increases additional tax on non-medical early withdrawals from an HSA from 10 to 20 percent.

Excise Tax on Charitable Hospitals: $50,000 per hospital if they fail to meet new “community health assessment needs,” “financial assistance,” and “billing and collection” rules set by HHS.

Tax on Innovator Drug Companies: $2.3 billion annual tax on the industry imposed relative to share of sales made that year.

Tax on Medical Device Manufacturers: $2 billion annual tax on the industry imposed relative to shares of sales made that year. 

Tax on Health Insurers: $10 billion annual tax on the industry imposed relative to health insurance premiums collected that year.

And if you think we will be saved by those House Democrats complaining about the Reid bill, their legislation contains just as many new taxes as its Senate counterpart. The marriage, in conference, of the Senate and House bills will result in one of the largest tax increases in history.

The lie the Democrats have been telling about this tax increase is that it is necessary to “pay for reform.” But no one with any sense believes them. This was never about health care, and it was certainly never about “reform.” It is, and always has been, about your wallet.