Thursday, November 8, 2012

Five More Obamacare Taxes Starting January 1, 2013

◼ ATR lists the five Obamacare taxes that go into effect on January 1, 2013.

◼ Five More Obamacare Taxes Hitting in 60 Days
Americans will be hit with five additional Obamacare taxes for the first time on Jan.1
- Americans for Tax Reform
◼ The Obamacare Medical Device Tax – a $20 billion tax increase
◼ The Obamacare “Special Needs Kids Tax” – a $13 billion tax increase
◼ The Obamacare Surtax on Investment Income – a $123 billion tax increase: This is a new, 3.8 percentage point surtax on investment income earned in households making at least $250,000 ($200,000 single).
◼ The Obamacare “Haircut” for Medical Itemized Deductions – a $15.2 billion tax increase
◼ The Obamacare Medicare Payroll Tax Hike -- an $86.8 billion tax increase
◼ Onward, ObamaCare

ObamaCare is no longer merely looming — it’s happening, and with the certainty that the health care law is here to stay, the federal bureaucracy is readying to unleash the floodgates of regulation-writing and logistical planning and make it rain on the health-care industry, the states, and the economy at large.

◼ Election Removes Cloud From Health Law's Future - WSJ

Jim Amos, CEO of frozen dessert franchiser Tasti D-Lite LLC, said employers who had been holding back on deciding how to respond to new requirements to provide insurance to full-time workers would now move ahead. “If you’re in a position where you want to move people from full-time to part-time jobs, you’re going to begin to do that,” he said, referring to a tactic some employers have tested to avoid the coming insurance requirements.

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30 hours a week is now considered full-time.