New Taxes In Senate Passed Bill Will Kill Economy, Jobs, Destroy America
Last night the Democrat Controlled United States Senate passed so-called “health care reform” legislation that will kill the American economy. The vote was party line, all 60 Democrats committing political and economic jihad against the American people.
Here are some of the taxes we could find in the bill. These new taxes were written so cryptically, a non-legal person couldn’t determine where their impact would be felt, but you our reader must understand this: All new taxes that ANY business pays are passed onto the end consumer. The effect of these taxes will have one effect on all Americans: RAISE PRICES.
- Individual Mandate Tax (Page 324/Sec. 1501/$8 bil) This is the expected “revenue” the Government expects to generate by imposing FINES on those who don’t purchase health care insurance.
- Employer Mandate Tax (Page 348/Sec. 1513/$28 bil) Straight up, this is a tax on all employers who pay for health care insurance for their employees.
- Excise Tax on Comprehensive Health Insurance Plans (Page 1979/Sec. 9001/$149.1 bil) For those with comprehensive health care plans (including medical, dental, vision) you get to pay higher premiums via this new tax because of this “benefit".
- Employer Reporting of Insurance on W-2 (Page 1996/Sec. 9002/Min$)
- Medicine Cabinet Tax (Page 1997/Sec. 9003/$5 bil) Are they serious? What is this, people with medicine cabinets will pay a new tax? Who’s going to enforce this? Will there be home inspections?
- HSA Withdrawal Tax Hike (Page 1998/Sec. 9004/$1.3 bil)
- FSA Cap (Page 1999/Sec. 9005/$14.6 bil)
- Corporate 1099-MISC Information Reporting (Page 1999/Sec. 9006/$17.1 bil) For those who receive 1099’s for income or work, you’ll be paying new tax so the Government can “process” your 1099 to figure out how much you should be paying for health care insurance.
- Excise Tax on Charitable Hospitals (page 2001/Sec. 9007/Min$) This will absolutely KILL charitable contributions to hospitals, who must now pay TAXES on all contributions they receive. This also removes the tax benefit of contributing to these organizations if a taxpayer makes more than $200,000 a year – the primary donor class to Charitable hospitals!
- Tax on Innovator Drug Companies (Page 2010/Sec. 9008/ $22.2 bil) This new tax will kill all new drug development in this country, period.
- Tax of Medical Device Manufacturers (Page 2020/Sec. 9009/$19.3 bil) Need a pacemaker? This tax means you’ll pay more for it. Same for orthodics, crutches, braces, implants, etc..
- Tax on Health Insurers (Page 2026/Sec. 9010/$60.4 bil) This new tax is just because the Government could pass it on those evil insurance companies! The result is you and I are going to pay higher premiums to those same evil insurance companies to make up the difference so they can continue paying claims to their insured! Once again, all costs of doing business – including taxes – are always passed onto the end consumer. That’s basic College Business 101.
- Eliminate tax deduction for employer-provided retirement Rx drug coverage in coordination with Medicare Part D (Page 2034/Sec. 9012/$5.4 bil)
- Raise “Haircut” for Medical Itemized Deduction from 7.5% to 10% of AGI (Page 2034/Sec. 9013/$15.2 bil) This is a tax hike on those of us with pre-existing conditions. Raising the itemized deduction to 10% of Adjusted Gross Income means more people will not qualify for the deduction making this a net tax HIKE on those with pre-existing conditions. Talk about a slap in the face! Were’nt we the ones the Government was supposed to protect?
- $500,000 Annual Executive Compensation Limit for Health Insurance Executives (Page 2035/Sec. 9014/$0.6 bil)
- Hike in Medicare Payroll Tax (Page 2040/Sec. 9015/$53.8 bil) A new tax on ALL WORKING AMERICANS, just because the Government can.
- Blue Cross/Blue Shield Tax Hike (Page 2044/Sec. 9016/$0.4 bil)
- Tax on Cosmetic Medical Procedures (Page 2045/Sec. 9017/$5.8 bil)
Now here are the ones we COULD understand:
- An excise tax of 40 percent would be levied on insurance companies for health plans with annual premiums above $8,300 for individuals and $23,000 for families. This means that Insurance Companies will have to raise their rates to end consumers in order to pay the new tax to the Federal Government, and protect their profits (so they can continue to pay claims.)
- For people in high-risk professions or who live in high-premium states, the excise tax kicks in at annual premiums of $11,300 for individuals and $26,000 for families. This is a TAX INCREASE on those in high-risk professions.
- Raises the Medicare payroll tax to 1.95 percent from current 1.45 percent for individuals earning $200,000 or more and couples earning $250,000. Anyone who believes this is a “tax the rich’ only proposal is sadly mistaken. When the Government realizes this doesn’t generate enough “revenue” this tax will apply to EVERY WORKING AMERICAN.
- Health insurance providers collectively would pay an annual fee of $6.7 billion starting in 2010. The fee would be allocated by companies' market share. As with all costs of doing business, expect this tax increase on Health Insurers to be passed onto the end consumer in the form of higher premiums.
- Pharmaceutical companies collectively would pay an annual fee of $2.3 billion, allocated by market share. As all costs of doing business are passed onto the end consumer, this means higher prescription costs for all Americans.
- Medical device makers collectively would pay an annual fee of $2 billion, allocated by market share. Some items sold at retail for less than $100 would be exempted from the fee calculation. Need a pacemaker or other surgical implant? Expect to pay more for it because of these new government taxes.
- Imposes a 5 percent tax on elective cosmetic surgery. This is the “Botox Tax” which was specifically put in for Nancy Pelosi. Now this is one tax increase this writer supports!
Despite Cloture Win, ObamaCare Has A Long Way To Go
Thanks to Freedom’s Lighthouse, here’s the process Obama’s DeathCare has to go through before it becomes law. With a fractious Democrat Caucus threatening to with-hold votes if one provision or another is in the bill, there’s still a chance this monstrosity won’t pass:
Step 1 Senators debate the bill and offer amendments to change or remove provisions they oppose, or to add provisions.
Step 2 Senate Majority Leader Harry Reid and Minority Leader Mitch McConnell may come to an agreement on the number of amendments to be offered and the time allocated for debate. If they don't reach an accord, Reid may use parliamentary devices to limit the number of amendments. In 2008, Reid used a procedural tactic called "filling the tree" more than 20 times to block Republican amendments.
Step 3 Senate rules allow for unlimited debate in most cases.
Prolonged debate in order to force changes in a bill or to scuttle a bill is called a "filibuster."
Step 4 The Senate votes on a motion to bring debate to an end. This is called "invoking cloture."
If three-fifths of the senators (60 senators) vote for the cloture motion, debate must last no more than an additional 30 hours.
Step 5 The Senate votes on final passage of its bill. A simple majority is sufficient to pass the bill.
Step 6 House and Senate leaders meet to resolve differences between the bill passed by the House and the one passed by the Senate.
Step 7 House and Senate leaders appoint a conference committee of several members from each body to reconcile the two bills. Important bills are frequently rewritten in conference, or killed because the conferees fail to settle their differences. Meetings of the conference committee are often secret.
Step 8 Senators opposed to the bill may filibuster the motion to create a conference committee. A cloture vote would be needed to stop the filibuster.
Step 9 If the conferees resolve their differences, they issue what is called a "conference report" -- the final version of the legislation.
Step 10 The conference report is debated in the House and in the Senate. It cannot be amended.
Step 11 Senators opposed to the conference report can filibuster it. A cloture vote would be needed to stop the filibuster.
Step 12 In the House, Republican members opposed to the conference report can offer a "motion to re-commit," essentially one last-chance vote to kill or amend the bill.
Step 13 Each chamber votes on approval of the conference report.
If approved, the legislation goes to Obama for his signature or veto.
Related Links:
Democrats Hold Line, But Cracks Show
The $300,000,000 Baby Fat, Baby
How Can This NOT Be Criminal?
If you and I tried to bribe a politician to vote a specific way, we’d be charged with violating Federal Election Laws and on our way to jail.
Mary Landrieu – the $300,000,000 whore. At least the whore knew her price.
Party’s Over For Obama
As Senate Vote Nears, Popularity Plummets
Recent Gallup and Rasmussen polling data shows that Obama’s popularity has dipped to 48%, plummeting 4% in just one week.
More and more American’s are waking up to Obama’s radical-left agenda which seeks to take away their liberties – and money – to fund an increasing government incursion into their daily lives.
Obama’s fall appears to be shocking the liberal left which has done all it can to give Obama positive spin in the lamestream media while ignoring the negative coverage in Afghanistan, the war Obama said we “must win.”
Government may want “universal health care” but clearly the American Public does not, with 54% opposed and only 33% in favor of. Yet it seems the Democrats are hell bent on committing political and economic jihad against the American People.
The Count Down to 2010 has begun.
Credit: Bayou Buzz
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