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Full List of Obamacare Tax Hikes
Taxpayers are reminded that the President’s healthcare law is one of the largest tax increases in American history.
Obamacare contains 20 new or higher taxes on American families and small businesses.
Arranged by their respective effective dates, below is the total list of all $500 billion-plus in tax hikes (over the next ten years) in Obamacare, where to find them in the bill, and how much your taxes are scheduled to go up as of today:
Taxes that took effect in 2010:
1. Excise Tax on Charitable Hospitals (Min$/immediate): $50,000 per hospital if they fail to meet new “community health assessment needs,” “financial assistance,” and “billing and collection” rules set by HHS. Bill: PPACA; Page: 1,961-1,971
2. Codification of the “economic substance doctrine” (Tax hike of $4.5 billion). This provision allows the IRS to disallow completely-legal tax deductions and other legal tax-minimizing plans just because the IRS deems that the action lacks “substance” and is merely intended to reduce taxes owed. Bill: Reconciliation Act; Page: 108-113
3. “Black liquor” tax hike (Tax hike of $23.6 billion). This is a tax increase on a type of bio-fuel. Bill: Reconciliation Act; Page: 105
4. Tax on Innovator Drug Companies ($22.2 bil/Jan 2010): $2.3 billion annual tax on the industry imposed relative to share of sales made that year. Bill: PPACA; Page: 1,971-1,980
5. Blue Cross/Blue Shield Tax Hike ($0.4 bil/Jan 2010): The special tax deduction in current law for Blue Cross/Blue Shield companies would only be allowed if 85 percent or more of premium revenues are spent on clinical services. Bill: PPACA; Page: 2,004
6. Tax on Indoor Tanning Services ($2.7 billion/July 1, 2010): New 10 percent excise tax on Americans using indoor tanning salons. Bill: PPACA; Page: 2,397-2,399
Taxes that took effect in 2011:
7. Medicine Cabinet Tax ($5 bil/Jan 2011): Americans no longer able to use health savings account (HSA), flexible spending account (FSA), or health reimbursement (HRA) pre-tax dollars to purchase non-prescription, over-the-counter medicines (except insulin). Bill: PPACA; Page: 1,957-1,959
8. HSA Withdrawal Tax Hike ($1.4 bil/Jan 2011): Increases additional tax on non-medical early withdrawals from an HSA from 10 to 20 percent, disadvantaging them relative to IRAs and other tax-advantaged accounts, which remain at 10 percent. Bill: PPACA; Page: 1,959
Tax that took effect in 2012:
9. Employer Reporting of Insurance on W-2 (Min$/Jan 2012): Preamble to taxing health benefits on individual tax returns. Bill: PPACA; Page: 1,957
Taxes that take effect in 2013: more
BethBBW
June 29th, 2012
I’d be happy to see taxes skyrocket if it will stop the war on womyn.
Barack Obama
June 29th, 2012
This is not a TAX!!! It’s a penalty. I command you to stop calling these tax increases. They are penalties! If you don’t stop calling them taxes, I’m going to hold my breath!!!
Toaster
June 29th, 2012
Heh, thanks for this post. I’m in Philadelphia at
Starbucks eating lunch and this place is full of hipster duochenozzles talking about Brockobomma & how great Castrocare is going to be. I started talking to the only employed hipster about how much he’s gonna have to pay out of his Barrista salary and I’m pretty sure I just ruined his day and probably the whole weekend.
MaryfromMarin
June 29th, 2012
Keep up the good work, @Toaster!
I just sent this on to lots of people. It’s very helpful to see it spelled out so clearly.
Unneutral
June 29th, 2012
Hell, just send your paycheck to the government, they’ll return what they don’t need.
p-o'd Jane
June 29th, 2012
I sent this list to a progturd yesterday when I first read it. He answered my email thusly:
“It is only my opinion but there is little or nothing wrong with these “taxes”.
This country needs to quit deficit spending and the Republicans don’t want to fund it any other way so it all got trapped in this bill.”
May God help us.
timmy g
June 29th, 2012
Full List of Obamacare Tax Hikes
you mean for the month of june…right?
june 2012, right?
Anonymous
June 30th, 2012
I have no clue how you can read anything of this and think it is unjust. Hey blue cross/blue shield CEO….no tax break for the company unless 85% of your money is actually spent on the delivery of healthcare, NOT bonuses. Sounds like a good idea to me. Love the term douchenozzle? But I still prefer douchebag. Fairly certain the barista just decided to ignore your “on point” analysis of “castrocare”. Vote Obama!
Blacksmith8✡
July 1st, 2012
I’m sorry. I just read annony’s little scree. SAVE YOURSELVES!
Those 50 IQ points are never coming back. I’m hoping when the economy improves, I can find work as unskilled labor. All the technical stuff just flushed down the drain.