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ObamaCare Taxes Will Increasingly Bite Middle Class
Investor's Business Daily ^ | 04/16/2013 | John Merline

Posted on 04/17/2013 4:46:11 AM PDT by IBD editorial writer

When President Obama was selling his signature health care reform bill back in early 2010, he described it as the "largest middle-class tax cut for health care in history." The costs would be largely paid by taxing insurance companies "that stand to gain a lot of money and a lot of profits" and by making "sure that the wealthiest Americans pay their fair share on Medicare." [snip] But a closer examination finds that ObamaCare's three biggest taxes — a Medicare surcharge, the so-called Cadillac tax and an insurance premium fee — will increasingly hit the middle class because of how the law indexes them for inflation and medical costs.

(Excerpt) Read more at news.investors.com ...


TOPICS: Business/Economy; Government; News/Current Events
KEYWORDS: middleclass; obama; obamacare; taxes
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1 posted on 04/17/2013 4:46:11 AM PDT by IBD editorial writer
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To: IBD editorial writer

That’s where the money is. All the talk about soaking the rich is just for public consumption. I’m waiting for the govt to seize retirement funds.


2 posted on 04/17/2013 4:49:24 AM PDT by saganite (What happens to taglines? Is there a termination date?)
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To: IBD editorial writer

Communists always try to destroy the middle class.


3 posted on 04/17/2013 4:50:22 AM PDT by MachIV
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To: saganite

It will happen when the Democrats regain control of both Houses of Congress. Possibility as early as 2014.


4 posted on 04/17/2013 4:53:19 AM PDT by sport
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To: IBD editorial writer

The costs would be largely paid by taxing insurance companies
.........................................................
And then the insurance companies pass the tax increase on to it’s customers.

THATs what happens dipstick. Somebody tell the idiot that Companies do not pay taxes, WE DO.

This numbnuts in the White House has no iodea how the system works.


5 posted on 04/17/2013 4:53:41 AM PDT by Venturer
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To: All
UNCLE OBAMA---legacy freak


6 posted on 04/17/2013 4:54:36 AM PDT by Liz
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To: saganite

a levy on retirement funds will be needed to keep funding this monstrous bill- he has to do this soon

after all, if you have enough money to save any you must be “rich”, eh?

A shocking percentage of Americans have NO savings- not their fault of course - another victimization of poor exploited masses

sarc


7 posted on 04/17/2013 5:02:25 AM PDT by silverleaf (Age Takes a Toll: Please Have Exact Change)
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To: IBD editorial writer

The taxes on health insurance companies will add to the cost of health insurance and be passed on to the insured - us. The taxes on hospitals will add to the cost of health insurance and be passed on to the insured - us. The taxes on medical devices will add to the cost of health insurance and be passed on to the insured - us. There is a pattern here, one that liberals are unwilling to understand - or too stupid to understand. The middle class will not just pay more, they will pay almost the entire bill for covering the poor, illegals, and all the new “free” coverages of ObamaCare - and those who understand economics know what happens to demand when price goes to zero.


8 posted on 04/17/2013 5:07:41 AM PDT by Pollster1 ("Shall not be infringed" is unambiguous.)
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To: Venturer
The costs would be largely paid by taxing insurance companies
.........................................................
And then the insurance companies pass the tax increase on to it’s customers.

THATs what happens dipstick. Somebody tell the idiot that Companies do not pay taxes, WE DO.

This numbnuts in the White House has no iodea how the system works.

........................................... Come on, we know the end game, Bambi's giving the Ins. companies a couple years of record revenue. At which point Bambi will regulate how much Ins. can charge sending them out of business sans one or two Insurers whom will handle the Elite / Congressional one percenters. At that point you have your 99% single payer Gov. run health-care system. It will be staffed with third world Doctors and Nurses whom will gladly work 60 hour weeks for 40 - 60k a year in order to get out of the hell hole they currently reside in.

9 posted on 04/17/2013 5:11:39 AM PDT by DAC21
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To: IBD editorial writer

This was the objective all along... dress it all up as an “equality” measure, then run the dagger into the back of the middle class.

The smidgen of silver lining I see is chiding liberals who are starting to whine about unforeseen changes (read: degradation) of their health care plans. I actually delight in reminding them the REAL fun starts when their employers start rolling back their work hours below the 30-per-week “full-time” threshold to avoid some of the regulatory burden of Obamacare.


10 posted on 04/17/2013 5:13:11 AM PDT by ScottinVA (Gun control: Steady firm grip, target within sights, squeeze the trigger slowly...)
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To: IBD editorial writer

Gee, what makes them think so?

Using Karl Marx’s ideas to help the middle class is like using Adolph Hitler’s ideas to help the Jews.

Marx HATED the middle class.

Marx’s first idea to get rid of the middle class: a progressive income tax.

It’s hard to feel sorry for the middle class in 2013: they overwhelmingly voted for this.


11 posted on 04/17/2013 5:14:21 AM PDT by Tzimisce (The American Revolution began when the British attempted to disarm the Colonists.)
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To: saganite

If Americans want all the benefits the welfare state has to offer, then they must be willing to pay for them. There are not enough rich people to pay for the welfare state.


12 posted on 04/17/2013 5:18:10 AM PDT by kabar
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To: IBD editorial writer
Anyone who thinks that they can tax a rich man is a damn fool and should be treated as such.

Anyone who says that they can tax a rich man is a liar or a thief and should be treated as such.

13 posted on 04/17/2013 5:18:20 AM PDT by Aevery_Freeman (Demarica: Land of the need, home of the slave!)
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To: kabar

I’ve had a lib tell me that welfare is the cost of civil peace in our country. Without welfare, the poor would turn violent.

I say, let ‘em, and let them experience the consequences of choosing violence over work ethic. Maybe the next person making that choice will choose the work ethic.


14 posted on 04/17/2013 5:20:35 AM PDT by MrB (The difference between a Humanist and a Satanist - the latter admits whom he's working for)
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To: IBD editorial writer

ObamaCare contains the seeds of its own destruction. See tag line.


15 posted on 04/17/2013 5:36:49 AM PDT by Paine in the Neck (Socialism consumes everything)
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To: IBD editorial writer

Of course. That was the original intention. Through rising prices, which they cause, people earning a moderate amount are hit more and more by taxes.
Then the bastards say “we didn’t know!”


16 posted on 04/17/2013 5:42:08 AM PDT by I want the USA back (Pi$$ed off yet?)
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To: IBD editorial writer

1. This is a very simple result and conclusion. The “Middle Class” whoever they are do not have powerfil lobbists. We are a large, slow moving targed and hence will be attacked at will.

2. The rich and powerful are well insulated. They also make large contributions to their candidates.

3. Heel of the oppressor will be on our heads soon.


17 posted on 04/17/2013 5:43:47 AM PDT by Citizen Tom Paine (An old sailor sends)
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To: kabar

This is the Cloward-Piven strategy.....pile so much on that people will scream “UNCLE....give me UNIVERAL HEALTH CARE”.


18 posted on 04/17/2013 5:47:22 AM PDT by Ann Archy (Abortion.....the HUMAN Sacrifice to the god of Convenience.)
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To: IBD editorial writer
" and by making sure that the wealthiest Americans pay their fair share "

Anytime you read or hear this remark look around as you will surely see a MARXIST.

19 posted on 04/17/2013 5:51:42 AM PDT by Don Corleone ("Oil the gun..eat the cannoli. Take it to the Mattress.")
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To: IBD editorial writer

Yes it will. This was always the plan. Implement the “benefits” first so that it was entrenched, then sock people with the taxes. All the while pretending that this was “free” healthcare paid for only by “the rich.” Once the Middle Class suckers who voted for Obama realize that they will be paying the bill, it will be too late.


20 posted on 04/17/2013 5:54:32 AM PDT by Opinionated Blowhard ("When the people find they can vote themselves money, that will herald the end of the republic.")
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