Yahoo Answers is shutting down on May 4th, 2021 (Eastern Time) and beginning April 20th, 2021 (Eastern Time) the Yahoo Answers website will be in read-only mode. There will be no changes to other Yahoo properties or services, or your Yahoo account. You can find more information about the Yahoo Answers shutdown and how to download your data on this help page.

Anonymous
Anonymous asked in Politics & GovernmentPolitics · 10 years ago

Obama said, "No family making less than $250K will see ANY FORM of tax increase, so what are these then?

Isn't it interesting that items 2-21 all have to do with Obamacare...these will affect people from ALL walks of life, not "just the wealthy".

I guess "soaking the rich" means looting anybody who works for a living...

Why don't liberals call him on this nonsense?

excerpt...

• A 156 percent increase in the federal excise tax on tobacco

• Obamacare Individual Mandate Excise Tax

• Obamacare Employer Mandate Tax

• Obamacare Surtax on Investment Income: Creation of a new, 3.8 percent surtax on investment income

• Obamacare Excise Tax on Comprehensive Health Insurance Plans

• Obamacare Hike in Medicare Payroll Tax

• Obamacare Medicine Cabinet Tax

• Obamacare HSA Withdrawal Tax Hike

• Obamacare Flexible Spending Account Cap — aka “Special Needs Kids Tax”

• Obamacare Tax on Medical Device Manufacturers

• Obamacare “Haircut” for Medical Itemized Deduction from 7.5% to 10% of AGI

• Obamacare Tax on Indoor Tanning Services

• Obamacare elimination of tax deduction for employer-provided retirement Rx drug coverage in coordination with Medicare Part D

• Obamacare Blue Cross/Blue Shield Tax Hike

• Obamacare Excise Tax on Charitable Hospitals

• Obamacare Tax on Innovator Drug Companies

• Obamacare Tax on Health Insurers

• Obamacare $500,000 Annual Executive Compensation Limit for Health Insurance Executives

• Obamacare Employer Reporting of Insurance on W-2

• Obamacare “Black liquor” tax hike

• Obamacare Codification of the “economic substance doctrine”

http://www.atr.org/comprehensive-list-obama-tax-hi...

Update:

ideogene: That's all you took away from this? What about RAISING the medical deductions from 7.5 to 10% of AGI? This is going to affect millions of middle income people who have large medical bills, who may NOT be able to take the deduction now...this is only one example.

Could you be any more wrong?

18 Answers

Relevance
  • Anonymous
    10 years ago
    Favorite Answer

    he's a lying sack of crap - hadnt you realised ?

    sad thing is his supporters are so BLIND and UNEDUCATED - he could have sex with a puppy and the black folk of USA would still vote for him

    True Horror Story

  • ?
    Lv 7
    10 years ago

    I dont know where all these came from but his statement referred to income tax. In fact everyone got a small tax reduction last year. There are so many tax credits now that is why 47% of taxpayers did not owe any federal tax, and that is not good. The President does not control taxation and the federal government does not impose local and states taxes like some you mentioned. It requires a lengthy discussion to go over each one and I am not doing that.

    Nothing in life is certain except death and taxes as someone once wrote.

  • 10 years ago

    It's what he says not what he does that matters. The old"the bigger the lie" and Obama has mastered the lie. He knows how to stupefy his party and they are like ants, following one right after the other. You forgot the ammo tax. Remember when we could not find one round of ammunition on the shelves.

  • 10 years ago

    Those are tax loop holes

    or

    Government Revenue Streams

    or

    Government Fees

    or

    Finacial Obligations You Owe the Government

    Source(s): You have to pass the bill to find out what is in the bill.
  • How do you think about the answers? You can sign in to vote the answer.
  • Anonymous
    10 years ago

    Oh yea, Pinocchio's taxes, fees, and thievery:

    • A 156 percent increase in the federal excise tax on tobacco

    • Pinocchio care Individual Mandate Excise Tax

    • Pinocchio care Employer Mandate Tax

    • Pinocchio care Surtax on Investment Income: Creation of a new, 3.8 percent surtax on investment income

    • Pinocchio care Excise Tax on Comprehensive Health Insurance Plans

    • Pinocchio care Hike in Medicare Payroll Tax

    • Pinocchio care Medicine Cabinet Tax

    • Pinocchio care HSA Withdrawal Tax Hike

    • Pinocchio care Flexible Spending Account Cap — aka “Special Needs Kids Tax”

    • Pinocchio care Tax on Medical Device Manufacturers

    • Pinocchio care “Haircut” for Medical Itemized Deduction from 7.5% to 10% of AGI

    • Pinocchio care Tax on Indoor Tanning Services

    • Pinocchio care elimination of tax deduction for employer-provided retirement Rx drug coverage in coordination with Medicare Part D

    • Pinocchio care Blue Cross/Blue Shield Tax Hike

    • Pinocchio care Excise Tax on Charitable Hospitals

    • Pinocchio care Tax on Innovator Drug Companies

    • Pinocchio care Tax on Health Insurers

    • Pinocchio care $500,000 Annual Executive Compensation Limit for Health Insurance Executives

    • Pinocchio care Employer Reporting of Insurance on W-2

    • Pinocchio care “Black liquor” tax hike

    • Pinocchio care Codification of the “economic substance doctrine”

  • ?
    Lv 7
    10 years ago

    Those aren't taxes the are simply negative revenue enhancements. I don't see how anyone can support this horrible excuse for a President.

  • 10 years ago

    I honestly don't understand what the mainstream voters fail to comprehend.....IF YOU WANT REAL "CHANGE", MEANING THE RESTORATION OF YOUR LIBERTIES AND ECONOMIC FREEDOMS, STOP VOTING FOR DEMOCRATS AND REPUBLICANS! Vote for anybody else but them. They've been in power for how many years now? Over 70, yet they still continue to fail.

  • 10 years ago

    With the exception of the tobacco tax (which helps offset the cost of cigarette smokers to the public) I hope people actually read your link so they can see how wrong you are.

    I'm not sure why clauses like this didn't tip you off that your question is a misrepresentation, "Creation of a new, 3.8 percent surtax on investment income earned in households making at least $250,000 ($200,000 single)"

  • 10 years ago

    Sadly he is a great speaker - and promised his base untold wealth

    His base is mostly those who are unlikely ever to have to lose a wink of sleep over your list

    Source(s): It is irrelevant - except to those that end up funding the same those being - the EMPLOYED AND PAYING FOR IT!
  • 10 years ago

    Liberals back him on this ........... that is why they go along with it.

    I cannot believe that anyone seriously thought Obamacare would be good for anyone except illegals and people who refuse to have insurance.

    The one good thing is this is that a majority of those who refuse to have insurance will get soaked along with the rest of us.

  • Alan S
    Lv 6
    10 years ago

    I believe that the President was referring to total federal taxes, not that every single one of the probably thousands of different taxes or fees won't go up.

    1. Glad that the tobacco tax increased. This is not so much a tax, as asking smokers to pay a little more for the costs we as a society have to pay for them, such as medical care for them and those they harm and kill from secondhand smoke. The federal tax is only $1.01/pack and should be a lot higher, probably at least $10-$20/pack to cover the true costs that smokers impose on society.

    4./6. Surtax on investment income and hike in medicare payroll tax only applies to 250k+, or 200k+ for single. These don't belong on your list.

    18. Certainly limiting compensation for health insurance executives to 500k doesn't affect anyone making under 500k. This doesn't belong on your list.

    Most of the other 17 items are not so much tax increases as changes in the tax law related to paying for national health care. For the most part, and for most middle income people, these are fairly small changes and the effect will be minimal. The only thing on the list that really bothers me is raising the medical deduction threshhold from 7.5% to 10%, it really should be lowered. This has a much worse effect on lower income people who have no insurance or expenses not covered by insurance. Rich people will spend a much smaller portion of their income on medical care.

    In any case, these small changes are nothing compared to how much better things will be when the new health care law fully takes effect. It is not as good as a socialized medicine plan where we get rid of the HMOs and their 25% in profits, but it will enable the vast majority of people to have health insurance, and will reduce the ability of the insurance companies to deny treatment to those already insured when they become ill.

Still have questions? Get your answers by asking now.