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1310633 tn?1430227691

The Hidden Obamacare Taxes That Will Crush The Middle Class

(By Money Morning Staff Reports)

Get ready to be blindsided by a barrage of new taxes. $1 trillion worth...

They'll be coming courtesy of the Affordable Care Act, otherwise known as Obamacare.

And they won't just be affecting those who make over $250,000. The bulk of these taxes will be passed on directly to the middle class.

That's because while a majority of these "stealth taxes" were designed to be taxes on businesses, they're actually transferred directly to ordinary citizens.

They include the investment income surtax, a Medicare payroll tax, even a "tanning tax" on those who utilize indoor tanning services.

"Many of those [hidden] taxes, especially those on hospitals, insurers and medical device manufacturers, will ultimately be passed on through higher health costs," said Michael Tanner an expert on the healthcare law.

In fact, analysts estimate Obamacare will cost the average taxpayer nearly $6,000 in extra taxes as early as next year.

Many of the Obamacare taxes are already in effect, others will hit January 1. But they are already infuriating millions of Americans.

While even Obamacare detractors applaud the requirement that insurance companies cover pre-existing conditions and put a stop to lifetime caps on benefits, they say these laudable benefits don't compensate for the bills high cost - especially in new taxes.

According to most experts, Obamacare will create a total of twenty new taxes or tax hikes on the American people.

In fact, the Obama administration has already given the IRS an extra $500 million to enforce the rules and regulations of Obamacare.

The new taxes don't bode well for millions of middle-class Americans. Incomes for the rich have soared this decade but middle class workers have seen their wages stagnate and even drop since the 2008 Great Recession.

Many fear Obamacare with its high insurance costs and new taxes, could provide the middle class a fatal blow.

Of course, the Obamacare plan was primarily designed to decrease the number of uninsured Americans and reduce healthcare costs.

Many experts are saying it will have the exact opposite effect.

That's just one of the reasons why Republicans hope to defund Obamacare before January.

They claim that the taxes and costs needed to pay for Obamacare will crush the middle class and most U.S. taxpayers, as well as trigger job losses in affected industries.

Tax experts say you should try to estimate how much you will have to pay when the law goes into full effect - and take precautions to limit the damage to your bottom line.

One expert, Dr. Betsy McCaughey, a constitutional scholar with a Ph.D. from Columbia University, recently wrote a best-seller showing Americans how they can not only survive Obamacare, but prosper through it.

McCaughey claims to be one of the only people in the country - including members of Congress - who has actually read the entire 2,572 page law.

Her book, titled Beating Obamacare: Your Handbook for Surviving The New Health Care Law, breaks the huge bill down into 168 pages of actionable advice.

The book, written in an easy going, easy to read style, shows some startling facts about Obamacare not seen in the mainstream press.

For example, she points to a little known passage in the bill that shows how you could get slapped with a $2,000 fine for not having health insurance - even if you do actually have it.

She also goes into detail explaining how a third of all U.S. employers could stop offering health insurance to their workers.

In one chapter, she shows how ordinary Americans will get stuck paying for substance abuse coverage - even if they never touched a drink or drug in their life.

According to McCaughey's research, senior citizens will get hit the hardest.

Hip and knee replacements and cataract surgery will be especially hard to get from Medicare in the months ahead thanks to Obamacare, according to McCaughey.

She warns seniors to get those types of procedures done now before Obamacare goes into effect January 1.

SOURCE: http://moneymorning.com/ob-article/obamacare-taxes.php?code=t-oc-taxes
45 Responses
1310633 tn?1430227691
Obamacare is such a wonderful thing.

How on EARTH can so many people turn a blind-eye to the obvious?

Brice, Glass, Vance... it's time for a collective "I freaking told you so" directed at the other side of the fence. We've been trying to point out what's in this article (ie: the middle class will suffer tremendously) for the last 2-3 years.

Why would no one listen?

Just wait for it... the cries of "Taxes on the rich need to be raised in order to cover what the middle-class is going to have to pay!" are coming shortly.

Wait for it...
206807 tn?1331939784
Now El, don’t believe everything you read. We all know as soon as the Website is 100% up and running, the Young/Healthy that doesn’t have and can’t afford insurance, will be signing up by the millions. Plus they are the ones that do most of the indoor tanning. At any moment now they will all have high-income jobs that will allow them to pay 100% and will not need Subsidies or Government Assistance of any kind. This will balance out everything.
Don’t be so Paranoid and remember, “HOPE”.
148588 tn?1465782409
You left out the part of your link that sad little 'Money Morning' mag is trying to give away these books. Their entire site appears to be a propaganda mill. Follow the money el. If you can trace down who's doing the book giveaway you'll have a better idea of who's feeding your misconceptions.

Caveat lecter.
1530342 tn?1405020090
How convenient huh?!
206807 tn?1331939784
Am I reading this wrong? I’m interpreting this as the Government “Strong Arming” Insurance Companies as The Mob does to local businesses. Are they having to pay a fee on premiums written and being taxed on profits?

Annual Fee on Health Insurance Providers:

Starting in 2014, health insurers will have to pay a fee to the federal government. The amount of the fee
depends on the amount of “net premiums written” by the insurer during the year. Net premiums written is the
amount of premiums paid to the insurer by plan enrollees and adjusted for the cost of any reinsurance (which
guards the insurer from major financial loss) held by the insurer.

Will all insurers have to pay the fee?

Some insurers with relatively low net premiums written amounts will be exempt from the assessment. Insurers
with at least $50 million in net premiums written for the year will have to pay the full fee. Non-profit insurers
will only have 50 percent of their net premiums written accounted for when the fee is being determined.

The following insurers are exempt from the fee:

Self-insured plans (typically large employers who fund the insurance of their employees)
Any government entity

How much revenue will this raise?

The CBO/Joint Committee on Taxation predicts the fee will raise $102 billion over the period of 2013-2022.

1310633 tn?1430227691
So you're saying that the article is bogus, and the middle-class WILL NOT suffer any kind of repercussions due to Obamacare being implemented?

Is THAT what you're saying?
1310633 tn?1430227691
And you're parroting what desrt said?

(squawk, squawk)
148588 tn?1465782409
I believe it's a win/win/win situation with no connection to 'class'. No matter how much sources like 'Money Morning' would like to drive that wedge in.
Patients who, till now, used the ER as their primary healthcare will receive more appropriate and timely services, meaning things will be caught early and treated correctly. This will drive the overall cost of healthcare down.
Healthcare providers (like hospitals) will no longer find it necessary to inflate charges to currently insured patients and their insurers to make up the losses incurred by treating uninsured patients.
People are required to have car insurance as a means to protect all of us. Why not health insurance? This plan was originally introduced by Republicans. It can be a huge boon to the insurance industry, it can mean a healthier more productive country. Proper nutrition in schools, proper eye testing to see who needs glasses early means smarter students who will be able to compete on a more level field with other students from the Pacific Rim and South Asia.
Industry will have a larger pool of qualified applicants to choose from.

This is all connected. Show me the bad. Not just the little guy/gal fronting for  for the Big money special interests who stand to lose a little 'mordita' on each transaction.

Show me the bad..

Or show me *any* fair, workable plan that the Pubster's have introduced.
Avatar universal
How many years have the pubsters been crying repeal and replace. Now you only hear about repeal. One must assume the simple fact is that pubsters simply do not want people to get healthcare? Still no replacement. Wanna bet they start offering up universal coverage solutions to get themselves outta the predicument they find themselves in? HaHa! Wanna bet?

They also said obamacare would be a job killer. November produced over 203 thousand jobs. How did that happen? We were told it would be the end of the world for jobs......

The USA is the ONLY nation that does not consider health care to be a right for their people. The USA, the richest nation in the world is the only one that does not consider healthcare a right for all.....

649848 tn?1534637300
I go back to one simple thought -- it this plan had been more thought out and presented in such a way as to not be "shoved" down our throats, I don't think there would be near the opposition, there is...

Nancy Pelosi:  "We have to pass the bill to find out what's in it"... how utterly stupid was that?  

They knew people wouldn't read the entire bill and if they did, most wouldn't understand it... They withheld key parts and lied through the rest of it... why wouldn't those of us who didn't want it, have a bad taste for it?
206807 tn?1331939784
"Or show me *any* fair, workable plan that the Pubster's have introduced."
Show me *any* fair, workable plan that the Democrats have introduced.
Avatar universal
Onward to Universal, then ya can ***** about that too! Unless the pubs think of it, then you will be all for it.
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