What happens when you read the ObamaCare bill, specifically the one coming out of the USSA Senate?
We learn just how bad it really is.
It isn't just that this bill will create new citizenship mandates, eliminate freedom of choice and liberty, or even jail people for making personal legal choices, but as Americans For Tax Reform have found out, things are much, much worse.
Read on to find out what taxes, burdens and mandates this bill hides at the very end of its over 2,000 pages.
There are TONS (as Catherine Manheim likes to scientifically state) of taxes, fees, fines and mandates that this no-cost, universal covering, fully transparent, user-friendly, must-needs-pass bill has.
Here are but a few.
Individual Mandate Tax (Page 324/Sec. 1501/$8 bil): Starting in 2014, anyone not buying “qualifying” health insurance must pay an income surtax according to the following schedule (capped at 8 percent of income):
Single Single +1 Single +2
2014 $95 $190 $285
2015 $350 $700 $1050
2016> $750 $1500 $2250
Employer Mandate Tax (Page 348/Sec. 1513/$28 bil): If an employer does not offer health coverage, and at least one employee qualifies for a health tax credit, the employer must pay an additional non-deductible tax of $750 for all full-time employees. Applies to all employers with 50 or more employees.
If the employer requires a waiting period to enroll in coverage of 30-60 days, there is a $400 tax per employee ($600 if the period is 60 days or longer).
Excise Tax on Comprehensive Health Insurance Plans (Page 1979/Sec. 9001/$149.1 bil): Starting in 2013, new 40 percent excise tax on “Cadillac” health insurance plans ($8500 single/$23,000 family). Higher threshold ($9850 single/$26,000 family) for early retirees and high-risk professions. CPI +1 percentage point indexed.
From 2013-2015, the 17 highest-cost states are 120% of this level.
Employer Reporting of Insurance on W-2 (Page 1996/Sec. 9002/Min$): Preamble to taxing health benefits on individual tax returns.
Medicine Cabinet Tax (Page 1997/Sec. 9003/$5 bil): No longer allowable to use health savings account (HSA), flexible spending account (FSA), or health reimbursement (HRA) pre-tax dollars to purchase non-prescription, over-the-counter medicines (except insulin).
And then there are the taxes and fines on hospitals and charities and even the evil drug companies:
Excise Tax on Charitable Hospitals (page 2001/Sec. 9007/Min$): $50,000 per hospital if they fail to meet new "community health assessment needs," "financial assistance," and "billing and collection" rules set by HHS.
Tax on Innovator Drug Companies (Page 2010/Sec. 9008/ $22.2 bil): $2.3 billion annual tax on the industry imposed relative to share of sales made that year.
Tax of Medical Device Manufacturers (Page 2020/Sec. 9009/$19.3 bil): $2 billion annual tax on the industry imposed relative to shares of sales made that year. Exempts items retailing for <$100.
Tax on Health Insurers (Page 2026/Sec. 9010/$60.4 bil): $6.7 billion annual tax on the industry imposed relative to health insurance premiums collected that year.
And tell me, this isn't sticking the big nose of government once again in to the running of private businesses?
$500,000 Annual Executive Compensation Limit for Health Insurance Executives (Page 2035/Sec. 9014/$0.6 bil)
Seriously? They have no stake in health insurance companies like they do the auto and financial industries. There is no "tie" to allow the government to dictate CEO salaries.
But yet, it would seem, once you give the government the power to control private companies, they will continue to use and abuse that power.
Be warned, private individual pay limitations will be next.
Oh way, they are doing that.
Pass this around folks. This information needs to get out so that people are fully aware what this "free" health care bill will do to this county!!