Navigation Links
Obama's 'Specific' Healthcare Speech: Will He Disavow Pledge-Breaking Tax Hikes in House Dem Health Bill?
Date:9/2/2009

WASHINGTON, Sept. 2 /PRNewswire-USNewswire/ -- There are four tax hikes in the House Democrat healthcare bill (H.R. 3200) that violate President Obama's promise not to raise "any form" of taxes on families making less than $250,000 per year. The White House has told reporters that Obama is going to get specific on healthcare policy in a speech next week, which begs the question:

If Obama is serious about keeping his central campaign promise, will he disavow the four pledge-breaking provisions in the House Democrat healthcare bill? They are as follows:

Restrictions on tax-deductible purchases of over-the-counter medicines with health spending accounts like FSAs and HSAs. This isn't in the original H.R. 3200, but it did make it into Charlie Rangel's "Chairman's Mark." The description can be found at www.jct.gov, and it's document JCX-32-09. The 8 million Americans who have a health savings account (HSA) and 30 million Americans who have a health flexible spending account (FSA) will no longer be able to buy over-the-counter medicines (aspirin, etc.) on a pre-tax basis. Contrary to the Obama rhetoric, this would change the plan people currently have, and raises their taxes in the process. This affects anyone with these types of accounts, not just those making more than $250,000 per year.

Tax on Individuals Not Enrolled in Health Insurance (Page 167): Those who don't enroll in a health insurance plan will have to pay a new tax equal to 2.5% of income. If they earn $40,000 a year and don't have health insurance, they will have to pay tax of $1000. Notice how this tax affects all individuals, not just those making more than $250,000 per year.

Tax on Businesses Not Offering Health Insurance (Page 183): If a business has a payroll of at least $500,000 and does not offer health insurance, it will be compelled to pay a new payroll tax of 8 percent. It doesn't matter if the business is profitable or running a loss. Small businesses pay taxes on their owners' 1040s. This will affect thousands of small businesses with profits of less than $250,000 per year.

IRS Can Disallow Perfectly Legal Tax Deductions They Just Don't Like (Page 207): If a taxpayer (including one making less than $250,000 per year) uses a perfectly-legal tax deduction the IRS doesn't like, the IRS will be empowered to simply disallow it. The only reason the IRS has to give is that the tax break lacks "economic substance" -- that is, the taxpayer is not taking the deduction for "substantial" or "business" reasons. For those wanting to engage in a legal activity to cut their tax bill, the IRS wins no matter what.

Americans for Tax Reform is a non-partisan coalition of taxpayers and taxpayer groups who oppose all tax increases.. For more information or to arrange an interview please contact John Kartch at (202) 785-0266 or by email at jkartch@atr.org.


'/>"/>
SOURCE Americans for Tax Reform
Copyright©2009 PR Newswire.
All rights reserved

Related medicine news :

1. National Health High Risk Pool Association Available to Discuss Role of Pools in President Elect Obamas Health Care Reform Plans
2. Narrow-band imaging increases specificity of early lung cancer detection
3. Catholic Health Association Reaffirms Long-Standing Commitment to Reform Health Care But Waits to Endorse Any Specific Bill
4. First compound that specifically kills cancer stem cells found
5. HerbalScience Research Identifies Specific Bioactives In Stabilized Rice Bran Extract that Impart Anti-Inflammatory Benefits
6. Sedationfacts.org Enhances State-Specific Site Content, Making Regional Sedation Administration Standards and Regulations Quick and Easy to Find and Use
7. Kefir, a Probiotic-Rich Drink, May Benefit Specific Groups of Children
8. LG Electronics Introduces New Flat-Panel HDTVs Designed Specifically for Long-Term Care Facilities
9. Merrimack Pharmaceuticals Initiates Enrollment in a Phase 1/2 Study of MM-111, a Bispecific Antibody to ErbB2/3
10. Adenoviral vector specifically targeted to EphA2 receptor in pancreatic cancer cells
11. Genomas Presents Drug-Specific Genetic Determinants of Statin Safety and Efficacy at the XV International Symposium on Atherosclerosis
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:2/26/2017)... ... February 26, 2017 , ... ... cognitive rehabilitation, according to a study released today at the 1st Pan American ... programs are proven to be effective in improving cognitive function in PD patients. ...
(Date:2/25/2017)... Viejo, CA (PRWEB) , ... February 25, 2017 , ... ... with ProSharpen Color tools from Pixel Film Studios. With ProSharpen Color users have total ... sliders to easily refine their color range. With color spectrum tools users can visually ...
(Date:2/24/2017)... TX (PRWEB) , ... February 24, 2017 , ... ... offering promotions on tooth replacement options at his office, Antoine Dental Center. Currently, ... implants for $18,499. Some restrictions may apply, but patients can learn more about ...
(Date:2/24/2017)... NJ (PRWEB) , ... February 24, 2017 , ... ... that provides business development, education, networking and recognition opportunities as well as advocacy ... Bell Works in Holmdel, NJ on February 23. The Council's Innovation Forecast ...
(Date:2/24/2017)... ... February 24, 2017 , ... Dr. ... has officially announced the appointment of Peter A. Bell, DO, MBA, HPF, FACOEP-dist., ... (LUCOM), beginning April 10. Dr. Bell comes to Liberty from the Ohio ...
Breaking Medicine News(10 mins):
(Date:2/27/2017)... Feb. 27, 2017 Mederi Therapeutics today ... studies, representing 2468 patients who received  Stretta Therapy  ... entitled, " Systematic Review and Meta-Analysis of Controlled ... for Treatment of Gastroesophageal Reflux Disease ", was published ... Ronnie Fass , MD, head of the Esophageal ...
(Date:2/27/2017)...   Royal Philips (NYSE: ... health technology, today announced 510(k) clearance from the ... its ElastQ Imaging capability, further expanding the functionalities ... Imaging enables simultaneous imaging of tissue and assessment ... diagnosis of various liver conditions. With ElastQ Imaging, ...
(Date:2/27/2017)... TAMPA, Fla. , Feb. 27, 2017 ... device company focused on developing cerebral embolic protection ... members of the FDA,s Circulatory System Devices Panel ... of the need for cerebral protection following transcatheter ... statements shared by this FDA panel support the ...
Breaking Medicine Technology: