ObamaCare taxes poised to hit next month

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ObamaCare taxes poised to hit next month

Post by SamCogar on Sun Dec 09, 2012 6:02 am

Starting Jan. 1, investment income for individuals earning over $200,000 and households earning over $250,000 will be subject to a new 3.8 percent tax. Further, regular income above those thresholds will be hit with a .9 percent Medicare surtax. Should the Bush tax rates expire for those workers, those increases will be compounded.

“This week, the Internal Revenue Service outlined which medical supplies and technologies will be subject to a tax. Now, everything from latex gloves to pacemakers will become more expensive and in some cases, more scarce,” Rep. Tom Price, R-Ga., said in a statement. “The tax on medical devices harms America’s ability to conduct the necessary research and development to maintain our global competitiveness, resulting in the loss of tens of thousands of jobs and fewer groundbreaking innovations in this field. With millions of Americans unemployed, this simply makes no sense.”


Read more: http://www.foxnews.com/politics/2012/12/08/deal-or-no-deal-obamacare-taxes-poised-to-hit-next-month/

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Re: ObamaCare taxes poised to hit next month

Post by SheikBen on Thu Dec 13, 2012 4:29 pm

Taxing medical devices is a great idea---unless you a patient who uses one for a test, in which case it is a horrible idea since you will obviously be paying more.

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