From the Senate Republican Communications Center:
NEW HEALTH BILL: EVEN MORE TAX INCREASESTechnorati tags:
More Than $560 Billion In Taxes On Medicare Patients, Private Health Insurance Plans, Medical Device Manufacturers, Small Businesses, And Much More…
SEN. MARY LANDRIEU (D-LA): “Yes, We’ve Had To Raise Some Taxes And Fees To Pay For This Bill.” (CSPAN’s Washington Journal, 12/22/09)
MORE THAN $200 BILLION IN TAXES ON INDIVIDUALS AND SMALL BUSINESSES
“Medicare Hospital Insurance Tax … 210.2 [Billion Dollars].” Joint Committee on Taxation: “Broaden Medicare Hospital Insurance Tax Base for High-Income Taxpayers - additional surtax of 0.9% on earned income in excess of $200,000/$250,000 (unindexed) [1], and 3.8% surtax on investment income for taxpayers with AGI in excess of $200,000/$250,000 (unindexed)… 2010-2019… 210.2 [Billion Dollars].” (“Estimated Revenue Effects Of The Amendment In The Nature Of A Substitute To H.R. 4872, The “Reconciliation Act Of 2010,” In Combination With The Revenue Effects Of H.R. 3590, The "Patient Protection And Affordable Care Act ('PPACA')," As Passed By The Senate,” Joint Committee On Taxation, P.2, 3/18/10)
MORE THAN $50 BILLION IN TAXES ON EMPLOYERS
“Penalty Payments By Employers… 2010-2019… -52 [Billion Dollars].” (CBO Director Doug Elmendorf, Letter To Rep. Nancy Pelosi, 3/18/10, P.8)
MORE THAN $30 BILLION IN TAXES ON PRIVATE HEALTH INSURANCE PLANS
Tax On Private Health Insurance Plans: “32.0 [Billion Dollars].” JCT: “I. Revenue Provisions 1. 40% excise tax on health coverage in excess of $10,200/$27,500 (subject to adjustment for unexpected increase in medical costs prior to effective date) and increased thresholds of $1,650/$3,450 for over age 55 retirees or certain high-risk professions, both indexed for inflation by CPI-U plus 1%; adjustment based on age and gender profile of employees; vision and dental excluded from excise tax; levied at insurer level; employer aggregates and issues information return for insurers indicating amount subject to the excise tax; nondeductible… 2010-2019… 32.0 [Billion Dollars].” (“Estimated Revenue Effects Of The Amendment In The Nature Of A Substitute To H.R. 4872, The “Reconciliation Act Of 2010,” In Combination With The Revenue Effects Of H.R. 3590, The "Patient Protection And Affordable Care Act ('PPACA')," As Passed By The Senate,” Joint Committee On Taxation, P.1, 3/18/10)
NEARLY $20 BILLION IN TAXES ON UNINSURED AMERICANS
“Penalty Payments By Uninsured Individuals… 2010-2019… -17 [Billion Dollars].” (CBO Director Doug Elmendorf, Letter To Rep. Nancy Pelosi, 3/18/10, P.8)
$20 BILLION IN TAXES ON MEDICAL DEVICE MANUFACTURERS
“Excise Tax On Manufacturers And Importers Of Certain Medical Devices… 20.0 [Billion Dollars].” JCT: “Impose 2.9% excise tax on manufacturers and importers of certain medical devices… 2010-2019… 20.0 [Billion Dollars].” (“Estimated Revenue Effects Of The Amendment In The Nature Of A Substitute To H.R. 4872, The “Reconciliation Act Of 2010,” In Combination With The Revenue Effects Of H.R. 3590, The "Patient Protection And Affordable Care Act ('PPACA')," As Passed By The Senate,” Joint Committee On Taxation, P.2, 3/18/10)
AND MORE…
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