As documented by Americans for Tax Reform, here are 18 of Senator Reid's tax hikes within H.R. 3590 with bill section and estimated cost. Which ones will cost you in terms of dollars or quality of service?
1) Individual Mandate Tax (Sec. 1501/$8 billion)
2) Employer Mandate Tax (Sec. 1513/$28 billion) - My boss chooses not to insure his employees, so YES.
3) Excise Tax on Comprehensive Health Insurance Plans (Sec. 9001/$149.1 billion)
4) Employer Reporting of Insurance on W-2 (Sec. 9002/Min$)
5) Medicine Cabinet Tax (Sec. 9003/$5 billion)
6) HSA Withdrawal Tax Hike (Sec. 9004/$1.3 billion)
7) FSA Cap (Sec. 9005/$14.6 billion)
8) Corporate 1099-MISC Information Reporting tax (Sec. 9006/$17.1 billion)
9) Excise Tax on Charitable Hospitals (Sec. 9007/Min$)
10) Tax on Innovator Drug Companies (Sec. 9008/$22.2 billion)
11) Tax of Medical Device Manufacturers (Sec. 9009/$19.3 billion)
12) Tax on Health Insurers (Sec. 9010/$60.4 billion)
13) Eliminate tax deduction for employer-provided retirement Rx drug coverage in coordination with Medicare Part D (Sec. 9012/$5.4 billion)
14) Raise "Haircut" for Medical Itemized Deduction from 7.5% to 10% of AGI (Sec. 9013/$15.2 billion) - I've been doing so for years since I pay so much out of pocket, so YES.
15) $500,000 Annual Executive Compensation Limit for Health Insurance Executives (Sec. 9014/$0.6 billion)
16) Hike in the Medicare Payroll Tax (Sec. 9015/$53.8 billion) - All workers pay this one, so YES.
17) Blue Cross/Blue Shield Tax Hike (Sec. 9016/$0.4 billion) - This is my new insurer, so YES.
18) Tax on Cosmetic Medical Procedures (Sec. 9017/$5.8 billion)
Taxes also stifle innovation and investment, so eventually all of these will affect us indirectly. Why should I support a bill that takes more money out of my pocket and leaves less for service to others from the heart? The federal government is there in very limited ways to serve us...not the other way around. Recent polls indicate a similar sentiment across the fruited plain. Does that matter to Reid et al?
Tuesday, December 15, 2009
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