Sunday, March 04, 2012

New taxes under Obamacare (as known a year ago)

Increase Hospital Insurance (HI) portion of the payroll tax from 2.9 percent to 3.8 percent for couples earning more than $250,000 a year ($200,000 for single filers). 2013, $210 billion

Apply the 3.8 percent HI tax to investment income for couples earning more than $250,000 a year $200,000 for single filers) for the first time. 2013, Included in the above $210 billion

Mandate for individuals to buy health insurance and employers to offer it to their workers. 2014, $65 billion

Annual fee on health insurance providers based on each individual company’s share of the total market. 2014, $60 billion

40 percent excise tax on “Cadillac” health insurance for plans costing more than $10,200 for individuals and $27,500 for families. 2018, $32 billion

Impose an annual fee on manufacturers and importers of branded drugs based on each individual company’s share of the total market. 2011, $27 billion

Exclusion of unprocessed fuels from the existing cellulosic biofuel producer credit. 2010, $24 billion

2.3 percent excise tax on manufacturers and importers of certain medical devices. 2013, $20 billion

Higher corporate taxes through stricter enforcement by requiring them to report more information on their business activities. 2012, $17 billion

Raise the 7.5 percent AGI floor on medical expenses deduction to 10 percent. 2013, $15 billion

Limit the amount taxpayers can deposit in fl exible spending accounts (FSAs) to $2,500 a year. 2014, $13 billion

Reduce the number of medical products taxpayers can purchase using funds they put aside in health savings accounts (HSAs) and FSAs. 2011, $5 billion

Eliminate the corporate deduction for prescription expenses for retirees. 2013, $4.5 billion

Increase corporate taxes by making it more diffi cult for businesses to engage in business activities that reduce their tax liability. 2010, $4.5 billion

10 percent excise tax on indoor tanning services. 2010, $2.7 billion

Increased penalty for purchasing disallowed products with HSAs to 20 percent. 2011, $1.4 billion

Increase taxes on health insurance companies by limiting the amount of compensation paid to certain
employees they can deduct from their taxes. 2013, $0.6 billion

Repeal special deduction for Blue Cross/Blue Shield organizations. 2010, $0.4 billion


Table 1, Web Memo, Heritage

But stay tuned. New things come out every day as people read the bill.

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