About Those ObamaCare Taxes

We.Are.Europe

This article lists the various taxes and who will be hit up. Guess who? You! And me! And the guy hiding behind the tree!

…But government regulations and new or expanded bureaucracies don’t pay for themselves, you know; they require tax-funding. And we heard relatively little about the plague of taxes and tax changes that now sweep over us with the dawn of 2013.

Actually, we may have heard a little. The medical device industry had the resources to make a futile fuss relatively early about the 2.3 percent tax that is being levied on gross sales, without regard to profitability. That’s right, in the red, or in the black, the medical device industry will have to give the government a cut. According to the Medical Devices Manufacturers Association, a trade group, “Many companies will owe more in taxes than they generate from their operations.” The tax, which has its own IRS FAQ, along with 10 pages of helpful guidance (PDF), has somewhat disheartened crafters of pacemakers and brain implants. A survey conducted by the Massachusetts Medical Devices Journal found that “more than 40% of member company executives anticipate job losses as a result of the 2.3% medtech levy.”

Ah, it goes on to discuss the taxes in individual, mostly middle-class Americans. Changes in deductions, taxes on married people who file jointly at the $250,00 level, but if they file separately it kicks in at $125,000. Teehee. Boy are the Obots going to be frustrated when they figure this out!

- Aggie

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