Forget 'Keep Your Plan' And The Website, #Obamacare Taxes Are Worse http://t.co/eiXSfTMsPG via @forbes
— U.S. Citizen Abroad (@USCitizenAbroad) January 7, 2014
Forget for a moment that the Affordable Heath Act resulted in the confiscation of the health plans of some individuals. That is only of the lies of Obamacare.
You will recall that the Supreme Court of the United States upheld the constitutionality of Obamacare on the basis that it was a tax! In fact Obamacare contains hidden taxes (penalties for failure to comply) and many visible taxes.
Robert Wood describes what a massive tax The Affordable Health Act AKA Obamacare really is:
As with many tax laws–and on many fundamental levels, the Affordable Care Act is a tax law–determining exactly where the tax burden falls isn’t always clear. One of the new taxes funds the Patient-Centered Outcomes Research Institute (PCORI). (I wish this institute included “affordable” for it makes a better acronym.) This 2% levy on health plans is expected to collect a cool $8 billion this year alone.
By 2018, annual receipts from the little 2% climb to $14.3 billion. Over a decade, it reaps over $100 billion. Here comes the zinger. Self-insured employers (public companies and 4 of every 5 employers with over 500 employees) don’t have to pay it, according to IRS rules. Oh, but the health plans pay it, right?
That is the Obama administration’s official position. In fact, though, as is plainly no surprise, the insurers pass it along to those who pay the premiums. And that means small employers and people who buy their own insurance have to pay. This is one of the worst features of the new law.
The little guy–small business and the self-employed–have to pay. Kaiser Health News said the new taxes end up on customer bills. One customer’s bill went up by $23.14 a month, or $277.68 annually, for the tax. It meant the person’s monthly premium rose from $322.26 to $345.40.
It continues to be unclear how Obamacare will affect Americans abroad.
This article and the comments are well worth a read.