American for Tax Reform has a list of the multiple tax hikes hidden in Obamacare.
These include:
- Individual Mandate Excise Tax
- Employer Mandate Tax
- Surtax on Investment Income
- Excise Tax on Comprehensive Health Insurance Plans
- Hike in Medicare Payroll Tax
- Medicine Cabinet Tax
- HSA Withdrawal Tax Hike
- Flexible Spending Account Cap – aka “Special Needs Kids Tax
- Tax on Medical Device Manufacturers
- Raise “Haircut” for Medical Itemized Deduction from 7.5% to 10% of AGI
- Tax on Indoor Tanning Services
- Elimination of tax deduction for employer-provided retirement Rx drug coverage in coordination with Medicare Part D
- Blue Cross/Blue Shield Tax Hike
- Excise Tax on Charitable Hospitals
- Tax on Innovator Drug Companies
- Tax on Health Insurers
- $500,000 Annual Executive Compensation Limit for Health Insurance Executives
- Employer Reporting of Insurance on W-2
- Corporate 1099-MISC Information Reporting
- “Black liquor” tax hike
- Codification of the “economic substance doctrine”
Yup, if you think Health Care is expensive now, wait until the Government makes it “free.”