Saturday, December 14, 2013

EDITORIAL: Here come the Obamacare taxes

Pay attention - new taxes, penalties coming with Obamacare - Jennifer Robison/LAS VEGAS REVIEW-JOURNAL

First came the compliance burdens. Then came the expensive website woes, millions of policy cancellations and skyrocketing premiums. But if you thought Obamacare couldn’t be less popular, guess again. Here come the taxes. - LAS VEGAS REVIEW-JOURNAL

As reported Sunday by the Review-Journal’s Jennifer Robison, there are a slew of new taxes to help pay for the boondoggle that is the Affordable Care Act, and the Internal Revenue Service will be reaching deep into wallets to collect that money starting next year. Those with high incomes face the biggest increases, but people at all income levels ultimately will feel the costs of the health care law — beyond higher deductibles and out-of-pocket expenses....

Don’t forget the delayed employer mandate, which takes effect Jan. 1, 2015. Businesses that have at least 50 full-time equivalent employees and don’t offer Obamacare-compliant coverage will be taxed between $2,000 and $3,000 per worker....

With each passing day, more Americans are realizing the Affordable Care Act isn’t affordable at all. It makes people and businesses pay more for worse coverage with less choice and it hits them with higher tax bills, all to subsidize insurance for a select few. As Washington Examiner columnist Byron York wrote this week, the Obama administration’s new promotional push to prop up this failing law doesn’t mention what was supposed to be the primary goal: helping Americans buy affordable health insurance....

Despite the law’s myriad other failings — it has actually increased the number of uninsured — its resulting lack of affordability is enough to justify full repeal. This is not a healthy economy. There are not enough jobs. Obamacare and its tax and regulatory burdens are hurting, not helping.