Wednesday, February 20, 2013

Taxes and ObamaCare

While I don't particularly like a good bit of what comes out of the site at the first link, this particular item is worth reviewing.  It focusses on tax breaks given to big businesses while we lowly taxpayers get hit with one tax after another, not to mention the incessant rise in the cost of groceries, gasoline and other items.
 
The second and third links highlight yet another tax from a President who pledged to not raise taxes on the middle class.  Oh well!  This is just one more to be added to the list of 20 or so that have emerged in the past 12 months.  Here is one quote:  "Starting next year the ACA imposes a new $100 billion tax on health insurance. The tax will start at $8 billion in 2014, increasing to $14.3 billion in 2018, and will continue to increase each year."
 
While the fourth link does not specifically address ObamaCare tax increases, it does highlight looming problems.  Unions across the country poured millions into lobbying for the law.  Now that they have seen what's in it they they don't like it and want to be excluded or have the rest of us lowly tax payers pay the increase in their costs.   
 
George Burns
 
 

1 comment:

Anna Thomson said...

Business owners might reduce their participation in their business, retain interest in the company and enjoy the income it provides. If you have interest in a business, but don't "materially participate," your income is unearned and it will be taxed under Obamacare. Avoid this fate and become a material participant again. Meet the minimum for participation in a year, and the income suddenly becomes earned without instant loans.