OohPooPahDoo
Gold Member
- May 11, 2011
- 15,347
- 985
- Thread starter
- #121
It's real simple if you bothered reading the links posted above:
- $60.1 billion/yr new taxes on health insurance companies. They won't eat these costs, they'll be passed to their customers as higher premiums.
- $22.2 billion/yr new taxes on Innovator Drug companies. They won't eat these costs, they'll be passed to insurance companies. Ins companies won't eat these costs, they'll be passed to their customers as higher premiums.
- $20 billion/yr new taxes on Medical Device Manufacturers.....again, costs passed to insurance co. who will pass costs to customers as higher premiums. It doesn't matter if you use "Medical Devices", the costs will be passed to everybody.
Just those 3 items alone put us on the hook for $102.3 billion/yr. Income is irrelevant, those taxes (let's call it "trickle down taxation") won't be collected on your 1040, they're conveniently proxied through the healthcare industry to make you think you're not being taxed. Dems will then demonize insurance companies for raising rates as part of their push for a "single payer" system. Oh wait, they're already doing that.
Now here's one of the most dangerous aspects of the bill - Codification of the "Economic Substance Doctrine" giving the IRS the power to disallow legitimate tax deductions if THEY determine the deduction lacks "substance". Wow - no need for tax laws, they'll just be written on the fly. No worries, it's not like the IRS answers to the federal gov't or ever abused their power, right? They estimate they'll take another $4.5 billion/yr with this one.
? Did you understand my question?
Let me make it a little simpler. How much bigger will the number on line 61 of my 1040 form be due to the ACA?
Why is that so simple to answer?
I don't know what your financials are and I don't care. You're trying to push the notion you won't be paying more in taxes. I laid it out for you.....you'll be paying your share of a $102.3 billion tax bill proxied through the insurance industry.
How much of it will show up on the "total tax" line of my 1040? Its zero dollars so far.
I can make up a number if you like. How about $87. Does that sound good? Or you can just send me all your financial info to include income, investments, savings, retirement plans, and insurance info and I'll be happy to take a look.
I don't have all that information for 2012. Unlike you, I can't predict the future.
But based on my 2011 information - I would owe NO NEW TAXES under ObamaCare. This flies in the face of the lie that it is a tax increase on the middle class. Its simply not.
Massive tax increases are coming. Taxation by proxy doesn't involve a 1040, it just requires a staff of 3000 employees and a million dollar computer system to track it all.
Great. When you've got specifics that will affect me rather than just vague notions I should be very afraid of and Obama Bad Bad Bad!, let me know.