Obamacare’s $4 TRILLION Tax Increase

Apr 17 2012

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There are many reasons Americans dislike Obamacare:   its   tremendous   and   rising   costs, which CBO recently revealed to have risen by $51 billion since just last year; the Administration’s unprecedented mandate that all employers, even religious schools and hospitals,     pay for employees’ abortion-inducing drugs, sterilization, and contraception; and tens of millions of employees soon to be wondering what happened to President Obama’s promise that, “if you like your insurance, you can keep it.”

With the April 15th  tax deadline just past and individuals  and  businesses  freshly  reminded  of the $2.3 trillion they paid in federal taxes in 2011, Obamacare will unload an additional $4 trillion in new taxes onto the economy between now and 2035.

The tax burden may be relatively light  this  year,  at  just  $15 billion, but come 2035, that burden will be magnified more than   20-fold   to   $320   billion. Even if the economy in 2035 is not already crushed by the growing burden of old-age entitlements, Medicaid, and a bloated government sector consuming as much as a third of the entire economy, will it really be able to handle an additional $320 billion in new taxes – the equivalent of $3,290 for a family of four?

The Administration would like you to believe that these taxes will not be paid by ordinary, middle-income Americans.   Rather, they allege the taxes will be paid by insurance companies that offer “Cadillac” health plans, “high-income” earners and investors, medical device companies, insurance providers, drug manufacturers, and tanning salons.   But, in reality, a substantial portion of Obamacare’s $4 trillion in new taxes will be paid by average, everyday Americans....

Read the rest of the report in PDF format attached below:

 

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