By now most of us realize how Obamacare is designed to take control of healthcare decisions away from individuals and place them in the hands of bureaucrats. After all, Obama, Pelosi, and Reid understood that as government gains more control over healthcare, the politicians have even greater powers to “sell” favors by granting exceptions, waivers and special rules that favor their friends and those who will donate to their campaigns. This became all the more evident recently when 38 additional Obamacare waivers were granted to businesses in Nancy Pelosi’s district.
Unfortunately this level of institutionalized corruption in our Federal government has become commonplace. What isn’t as apparent is how Obamacare is designed to take money out of all of our wallets by enacting additional taxes and penalties. These taxes include increased Medicare taxes, penalties on plans the government feels offer to good of coverage, penalties on those who chose to not buy insurance and an excise tax on pharmaceutical companies.
1) Beginning in 2013, payroll taxes from Medicare will increase by 62% for households that the government has decided are “higher income”.
2) Similarly, Obamacare created a new 3.8% Medicare Tax on interest, dividends, royalties, rental income, capital gains, and annuities.
3) If your medical insurance plan has an annual cost of more than $10,200 for an individual or $27,500 for a family, you will pay an additional 40% tax on the amount of your coverage that is in excess of that government imposed limit.
4) Obamacare also added a new excise tax for Pharmaceutical manufactures that over time will be passed on to consumers. Initially the additional tax is $2.5 billion, and it is designed to continue to increase.
5) You are now limited to only $2,500 per year in your Flexible Spending Accounts to help pay for medical expenses, and it eliminates your ability to use your FSA to purchase over-the-counter drugs.
6) If you dare to exercise your constitutional right to not purchase healthcare, you will have to pay a new 1% tax on all your household income. By 2016, this tax will be a minimum of $695 per person and will increase to 2.5% of household income.
7) As an additional hidden tax or penalty, Obamacare cuts $500 billion in funding from Medicare over the next 10 years. Thus the states will either be forced to cut their benefits to retired people or increase taxes on us to cover the decreased funding from the Federal government.
Should we really be surprised? Like most Liberal legislation, Obamacare is designed to take decision-making from individuals, centralize power in the Federal government, and take more money from all of us to feed the bureaucratic machine. After all, the Left feels that it’s not fair for most people to have good incomes and good healthcare when others who refuse to work or are in the country illegally have lower incomes and poorer healthcare. It’s all part of their standard Progressive mantra: Fairness occurs when everyone is equally poor and receives equally bad governmental services. I guess that’s why from their standards, Obamacare is destined to be a success.