ATF | $1 Trillion Obamacare Tax Hike Hitting on Jan. 1

Obamacare contains twenty new or higher taxes. Five of the taxes hit for the  first time on January 1.  In total, for the years 2013-2022, Americans face  a net $1 trillion tax hike for the years 2013-2022, according to the Congressional  Budget Office.

The five major Obamacare taxes taking effect on January are as follows:

The Obamacare Medical Device Tax:  Medical device  manufacturers employ 409,000 people in 12,000 plants across the country.  Obamacare imposes a new 2.3 percent excise tax on gross sales – even if the  company does not earn a profit in a given year.  In addition to killing  small business jobs and impacting research and development budgets, this will  increase the cost of your health care – making everything from pacemakers to  artificial hips more expensive.

The Obamacare Flex Account Tax: The 30-35 million Americans  who use a pre-tax Flexible Spending Account (FSA) at work to pay for their  family’s basic medical needs will face a new government cap of $2500. This will  squeeze $13 billion of tax money from Americans over the ten years. (Currently,  the accounts are unlimited under federal law, though employers are allowed to  set a cap.)

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