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:3/23/2017)... ... 2017 , ... On 2 March 2017, the United States ... Command’s Patriot Award. The award was presented by the USSOCOM Commander, General Raymond ... its significant and enduring support to the command. , Accepting the award ...
(Date:3/23/2017)... ... March 23, 2017 , ... The Boulevard is honored to host Shriners and ... will be located in the Main West Entrance of The Boulevard (in front of ... appointment is necessary and each child with a parent or guardian will be photographed ...
(Date:3/23/2017)... ... ... News Advisory/Interview Opportunity , After six years of advocacy, testimony and grassroots organizing, ... health and the environment and is calling on the United States to follow the ... of European citizens, the European Union (EU) will, beginning next year, ban the use ...
(Date:3/23/2017)... ... ... Woman Be Ye Healed-Passing On A Legacy”: a call to heal the wounded Church. ... author, Desiree M Webb, a registered nurse, minister of music, speaker, songwriter, recording artist, ... husband, Paul, for over twenty-nine years. Desiree enjoys writing, beach trips, ministering in ...
(Date:3/23/2017)... ... March 23, 2017 , ... Ogden ... innovative patient - centric payment system, to expand its focus on patient care ... patient financial experience. , “At Ogden Clinic, we are working to become ...
Breaking Medicine News(10 mins):
(Date:3/23/2017)... 2017  A new genetic test has been ... individuals who carry HLA-B*15:02 and who ... potentially deadly side effect of certain medications used ... HLA-B*15:02 is strongly associated with life-threatening ... and toxic epidermal necrolysis in patients treated with ...
(Date:3/23/2017)... March 23, 2017 On ... the trading session at 5,821.64, up 0.48%; the ... finish at 20,661.30; and the S&P 500 closed ... based as six out of nine sectors ended ... initiated reports coverage on the following Medical Instruments ...
(Date:3/23/2017)... 2017 Pre-market today, Stock-Callers.com has issued ... AGN), Horizon Pharma PLC (NASDAQ: HZNP), and Evoke Pharma Inc. ... part of the Healthcare sector, which was slightly higher in ... the NYSE Health Care Index adding about 0.1% in value, ... also were up nearly 0.1% as a group. Learn more ...
Breaking Medicine Technology: