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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.