Monday, May 13, 2013

Four Obamacare Taxes That Hurt Mothers Most

Grover Norquist writes:

1. Obamacare Flexible Spending Account Tax: The 30-35 million Americans who use a pre-tax Flexible Spending Account (FSA) at work to pay for their family's basic medical needs face a new Obamacare cap of $2,500. This will squeeze $13 billion of tax money from Americans over the next ten years. (Before Obamacare, the accounts were unlimited under federal law, though employers were allowed to set a cap.) Now, a mother looking to sock away extra money to pay for braces will find herself quickly hitting this new cap, meaning she would have to pony up some or all of the cost with after-tax dollars.[...]

2. Obamacare High Medical Bills Tax: Before Obamacare, Americans facing high medical expenses were allowed a deduction to the extent that those expenses exceeded 7.5 percent of adjusted gross income (AGI).  Obamacare now imposes a threshold of 10 percent of AGI. Therefore, Obamacare not only makes it more difficult to claim this deduction, it widens the net of taxable income[,,,]


4. Obamacare Individual Mandate Non-Compliance Tax: Starting in 2014, anyone not buying "qualifying" health insurance - as defined by President Obama's Department of Health and Human Services -- must pay an income surtax to the IRS. The Congressional Budget Office recently estimated that six million American families will be liable for the tax, and as pointed out by the Associated Press:  "Most would be in the middle class."

In addition, 100 percent of Americans filing a tax return (140 million filers) will be forced to submit paperwork to the IRS showing they either had "qualifying" health insurance for every month of the tax year or they obtained an exemption to the mandate.

5. Obamacare 10 Percent Excise Tax on Indoor Tanning: This Obamacare tax increase has the distinction of being the first to go into effect (July 2010). Slipped into the bill by Sen. Harry Reid (D-Nev.) behind closed doors in the middle of the night, this tax hike replaced the planned Obamacare "Botax" on cosmetic surgery. This petty, burdensome, nanny-state tax affects both the business owner and the end user.  Industry estimates from the Indoor Tanning Association show that 30 million Americans visit an indoor tanning facility in a given year, and over 50 percent of salon owners are women.  There is no exception granted for those making less than $250,000 meaning it is yet another tax that violates Obama's "firm pledge" not to raise "any form" of tax on Americans making less than this amount.

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