America’s race toward the so-called “fiscal cliff” of automatic, massive tax increases is only part of the problem. This Thelma has her Louise — the Obamacare taxes — and hand-in-hand, these two terrors are racing toward Jan. 1.
The only thing worse than President Obama’s broken Obamacare promises are the promises he intends to keep: the tax hikes. Remember when Mr. Obama promised he’d never raise taxes on families earning less than $250,000 a year? He’d prefer you didn’t, but when Chief Justice John G. Roberts Jr. and the Supreme Court put its stamp of approval on Obamacare, Mr. Obama became a court-certified tax-raiser.
Most of the president’s health care takeover won’t begin until 2014, but Democrats just couldn’t wait that long to start taxing you. The “Top Five Worst Obamacare Taxes Coming in 2013,” compiled by Americans for Tax Reform, is worth reviewing.
Obamacare Medical Device Tax. From pacemakers to MRI machines, if your health depends on a medical device, you will pay more. Manufacturers will face difficult decisions to compensate for the 2.3 percent excise tax on gross sales — levied even if a firm is not profitable. Will these firms charge you more, lay off workers or sacrifice research and development? Answer: Yes, yes and yes.