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The Health Care Bill Is Great For American Taxpayers – If You Like Being Punched In The Groin

Thanks to the health care “reform” bill passed by Congress and signed into law by Barack Obama, American taxpayers are about to be hit with the largest tax increase in the history of the United States.  According to an analysis by the Congressional Joint Committee on Taxation the health care bill will generate $409.2 billion in additional taxes by 2019.  But there are also heavy fines for those who refuse to buy the health insurance mandated by the bill.  According to the Congressional Budget Office, the health care bill imposes approximately $69 billion in penalties for individuals and businesses who don’t meet mandates to purchase health insurance.  This will be the first time in the history of the United States that the federal government has ordered Americans citizens to buy a good or service.  But it is not just a small amount of money that the U.S. government is requiring all of us to spend.  In fact, the federal government will be mandating that ordinary Americans pay almost as much to private insurance companies as they do in federal taxes. 

Just think about how bizarre that is.

It is a total government takeover of the health care system, and it is an absolute windfall for the health insurance companies.

No wonder their stocks have been heading into the stratosphere.

Before we take a look at all the taxes the American people will soon be paying, we should consider how much our health insurance premiums are about to go up.

According to one analysis, a middle class family of four making $66,370 will initially be forced to pay $5,243 per year for health insurance under the new system.

That would be bad enough.  But once more of the provisions contained in the health care bill start kicking in that figure is going to go up significantly.

How significantly?

According to the Congressional Budget Office, by 2016, the average family health care plan will cost $15,200 per year.

Can you afford to pay that?

Well, whether you like it or not, the U.S. government will now be forcing you to shell out cash for health insurance.

And we all get to be taxed like crazy at the same time.

Oh joy!

Let’s take a look at some of the taxes….

*Section 9001 of the health care bill contains an excise tax on “Cadillac” health insurance plans.  In other words, if you have provided your family with the very best in health insurance coverage you get to be taxed extra.  This tax is particularly harsh.  It imposes a 40 percent tax rate on the portion of insurance premiums exceeding $8,500 a year for individuals and $23,000 a year for family plans.  In an attempt to hide this tax, Democrats have imposed it on the employers who provide these plans to their employees. 

What do you think the odds are that employers will simply quit offering these really good health plans to their employees now?

Also, keep in mind the the levels at which this 40 percent tax kick in will be indexed to inflation.  Since inflation typically grows at a much slower rate than the cost of health care, an increasing number of employers will be confronted with this tax as the years go by.

*Section 9004 contains a very interesting provision.  Taxes on money in a health savings account not used for qualified medical expenses will increase from 10% to 20%.  For “Archer” medical savings accounts, taxes on money not used for qualified medical expenses will increase from 15% to 20%.

*Section 9008 of the health care bill imposes a $2.3 billion excise tax on the pharmaceutical industry.  This tax is distributed throughout the entire pharmaceutical industry and it is not based on the income of the individual firms.  Instead, the tax will solely be based on market share.  So even if a pharmaceutical company is losing hundreds of millions of dollars it will still have to pay this tax.

*Section 9009 of the health care bill imposes an “annual fee” on medical device manufacturers and importers.  Just like the tax imposed on the pharmaceutical industry, this tax on medical device manufacturers and importers will be based on market share and not on income. 

*Section 9010 of the health care bill imposes an “annual fee” on health insurance providers.  This harsh $6.7 billion tax would also be allocated based on market share.

Perhaps you don’t think that some of these taxes will impact you personally.

But just think about it for a moment.

Do you actually believe that the health insurance firms, pharmaceutical companies and medical device manufacturers will not pass the cost of these taxes on to consumers?

The truth is that American taxpayers will end up paying for all of these taxes one way or another.

*Section 9015 of the health care bill imposes an extra 0.5% tax on wages over $200,000 for those who file a single return and on wages over $250,000 for those who file a joint return.

*Section 9017 of the health care bill imposes an excise tax on elective cosmetic medical procedures.  Any voluntary cosmetic procedures will now be subjected to a 5 percent tax.  So now all of those nose jobs and boob enhancements are about to get a whole lot more expensive.

But as bad as all of those taxes are, that is just the first wave.

The second wave is in the reconciliation act that the House has already passed and is now in the Senate.

We encourage all of you to read H.R. 4872 – it is really a frightening bill.

The following are just some of the new taxes contained in that bill….

*A 2.5% income tax (more like a fine) on anyone who does not purchase health care insurance.  This tax will be limited to an amount less than the average national health care insurance premium.

*A 1% tax increase on those making between $350,000 and $500,000.

*A 1.5% tax increase on those making between $500,000 and $1 million.

*A 5.4% tax increase on those making more than $1 million per year.

*For firms that do not provide health insurance for their employees, and yet do not qualify for exclusions, an 8% tax on wages will be applied.

Are you starting to get the picture?

When you add all of these taxes together, you get the biggest tax increase in the history of the United States.

That is going to make it really hard for the American people to try to live the American Dream.

In fact, these “reforms” are a whole lot more about money than they are about health care.

Under the new health care regime, the Internal Revenue Service will function as the government’s chief enforcer for health care reform.

Isn’t that lovely?

The U.S. government has taken over the entire health care system, and they are about to make a gigantic financial mess of it.

What in the world has happened to the United States of America?

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  • Greg

    What happened to the United States of America, you ask? We decided that Christians are supposed to keep our mouths shut about morality, therefore the wicked took over. Christians who still lived godly lives became, for the most part, irrelevant and most “Christians” became just as ungodly as the world. When the wicked rule, treachery moves in and God takes his protective hand off of us. This oppression that is coming upon us is as certain as the baby’s death when the mommy steps into the Planned Parenthood slaughter mill and as certain as the destruction of SodAmerica for our homosexuality.

  • Johnathan K.

    Ben Stein said once, “people want God out of their lives, and once He leaves, they wonder why the world is going to hell”.

  • Drewboy

    Christianity. Right. The Vatican’s looking awfully good right now as a moral pillar, isn’t it?

  • Kaiser

    For the first 3 comments to bring in religion, this is a joke on the article and they are trying to undermine the author and this website…I say take your religious rhetoric somewhere else….take it to church, take it to the corner of your town, take it to your heart in prayer, but leave it off of here! This article is telling the truth on the tax grab that is this law. They have also reduced the amount of money you can put into a HSA (health savings account) for a HDHP, (high deductible health plan)which is a tax free contribution AND limited the amounts of money you can put into a FSA (Flexible Spending Account) which is also a tax free contribution up to certain limits). So they know health premiums are going to go up dramatically JUST LIKE AFTER THE credit card bill was passed but not due to take effect for 1 1/2 more years, all the credit card companies raised interest rates, lowered your credit line, or closed out accounts, or changed accounts to variable rate cards AHEAD of the laws effetive date, we will also see all of our premiums going up ahead of effective dates of this law. Which means if LOTS Of people are going to be paying more out of pocket for their health care premiums BETTER close those tax loopholes that they will want to use to reduce their taxes….They have also added in a clause to close out the 7.5% of adjusted gross income tax deduction we now get. For example, if your annual premiums, plus co-pays, eye doctor exams, prescriptions, and dental care exceed 7.5% of your adjusted gross income you used to be able to deduct $ for $ over the 7.5% amount. They are taking away that deduction….so YES, for now, the healthcare bill is a TAX GRAB BILL, and it doesn’t do one thing to prevent health care costs from rising!

  • Drewboy

    No I completely agree with you Kaiser, religion has no place in discussions like this.

  • Alex B

    All i have to say is this:
    Any country that went into a socialist regime, will regret it very soon. Everyone becomes equally poor, not counting those that are ruling the land.
    Just wait a few more years to start getting your ration cards for food and supplies once the economy completely collapses.
    My family left the USSR in 1991 to get away from that garbage, now we have it here.
    The idiot liberals who interestingly enough are very educated think this is a good thing. They do not realize that once the government takes completely over, their utopian ideas will go out the window along with them. The high end academics were usually the first to go in socialist regimes.
    When USSR came to be, people’s wealth (even grain and livestock) was confiscated to be distributed amongst everyone; all business import, export etc… became government controlled/owned.
    Sound familiar?
    Soon enough everyone who opposed was an enemy of the state and killed or sent off somewhere.
    Its all for the “greater good”.
    So far everyone who criticizes Obama is labeled a racist, an idiot, or a redneck.
    My prediction? Fall of the USA, a new era of USSA.

  • simi

    I can think only of: Don’t cry for me “America”………Either this is a scenario for a revolution or the end of Free America, American Dream, and whatever people hoped for as a good life, all flushed in the toilette thanks to your guy who you voted for, Dankeschoen for this impressive CHANGE, I’d say this is a radical step by bunch of radicals who cant count 1 and 1 is 2, all of the people who voted in Congress and Senate to pass these idiotic plans are obviously sitting in a warm prepaid nest, and leave us regular folk paying for it, incredible they still get paid if their job is poorly done, while regular people get fired.

  • jtd

    Maybe if all those good Christians had been looking out for their fellow man and finding a way to provide health care for the 40 million Americans who don’t have it, we wouldn’t have needed this “evil” bill.

  • http://www.facebook.com/pages/Nashville-Health-Insurance/137065532997690 Nashville Health Insurance

    You missed one item when you said this would be a windfall for insurance companies. The 80/20 MLR mandate. It says that insurance companies can only operate on $.20 of every premium dollar and have to pay out the rest. Here is a news flash… they can not operate on $.20. Our brokerage has already received letters from all but one of our key companies stating that agent pay is cut in half. This is just the first of the cuts that will be made just to try to stay solvent. Obamacare has already cut our income in half…as of 7/1/2010. You all are just further back in the line. This HAS TO BE REPEALED. Vote wisely this November.

  • digger

    The fools who desire to deny God or religion from the argument make the mistake that since our government leadership in general has done the same, they make amoral decisions devoid of virtue and basic morality that ensure we get what these fools desire to eliminate – higher taxes. If we elect godless leaders who have no moral foundation what the hell do you expect? You get what you deserve; hell on earth or in this case America led by the problem makers. Wake up!

    As for ‘Christians’ looking out for their fellow man, they do but what about YOU jtd??? For one thing the so-called uninsured is closer to 7-10 million NOT 40 as most don’t desire to have to pay for health care. No one is denied as they can go into the emergency rooms, and they do costing ALL of us. Another thing is that the Democrat party has punished the church by undermining charity itself as they want ‘government’ to be the charity giver, in other words, they want government to be god and for the people like yourself to depend upon them suckling off the rest of society paying to support your dependency.