Health care stink bomb: $473 billion tax hike 

 

Here’s one reason the House wants to “pass” the original Senate health care bill without a recorded vote: it contains 19 tax hikes totaling $473 billion, according to Americans for Tax Reform.

All the tax hikes are bad, but two are real stinkers:

Individual Mandate Excise Tax (Page 324/Sec. 1501)

Starting in January 2014, any single person who has not purchased “qualifying” health insurance as defined by the federal government  will be subject to a $495 income surtax. The surtax increases to $990 per couple, and $1,485 for a family, defined as “3+ people.”

Note: Special categories, as determined by bureaucrats in the U.S. Department of Health and Human Services, will be exempt from paying the no-insurance fine, including: “religious objectors, undocumented immigrants, prisoners, those earning less than the poverty line, members of Indian tribes, and hardship cases.”

Employer Mandate Tax (Page 348/Sec. 1513)

Companies with more than 50 employees who don’t offer health coverage as part of their benefits will also be hit with a non-deductible $750 tax for each full-time employee. If they require a 30-60 day waiting period before new hires are covered, they will be taxed $400 per employee, and $600 per employee if the waiting period is longer than two months.

These fines are mean and punitive, punishing individuals and companies that for whatever reason refuse to do the federal government’s bidding. But more than 30 states are in the process of passing legislation challenging the bill’s fundamental premise on the grounds that the Constitution does not give Congress authority to force state residents to buy insurance.

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Monday, Sep 15, 2014

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