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:6/24/2016)... ... 2016 , ... Marcy was in a crisis. Her son James, eight, was out of control. ... and physically. , “When something upset him, he couldn’t control his emotions,” remembers Marcy. ... rocks at my other children and say he was going to kill them. If ...
(Date:6/24/2016)... (PRWEB) , ... June 24, 2016 , ... Global law ... magazine’s 2016 Legal Elite. The attorneys chosen by their peers for this recognition are ... , Seven Greenberg Traurig Shareholders received special honors as members of this year’s Legal ...
(Date:6/24/2016)... ... June 24, 2016 , ... Comfort Keepers® of San Diego, ... and the Road To Recovery® program to drive cancer patients to and from their ... to ensure the highest quality of life and ongoing independence. Getting to and ...
(Date:6/24/2016)... ... June 24, 2016 , ... People across the U.S. ... magazine’s Code Talker Award, an essay contest in which patients and their families pay ... be presented at the 2016 National Society of Genetic Counselors (NSGC) Annual Education Conference ...
(Date:6/24/2016)... NY (PRWEB) , ... June 24, 2016 , ... ... Haute Living, is proud to recognize Dr. Barry M. Weintraub as a prominent ... “the most beautiful women in the world, and the most handsome men, look ...
Breaking Medicine News(10 mins):
(Date:6/23/2016)... and INDIANAPOLIS , June ... receiving a Lilly Diabetes Tomorrow,s Leaders Scholarship is any ... scholarship winners, announced today online at www.diabetesscholars.org ... type 1 diabetes stand in the way of academic ... supported the Foundation,s scholarship program since 2012, and continues ...
(Date:6/23/2016)...  Guerbet announced today that it has been named ... . One of 12 suppliers to receive ... support of Premier members through exceptional local customer service ... to lower costs. ... outstanding customer service from Premier," says Massimo Carrara ...
(Date:6/23/2016)... , June 23, 2016  Experian Health, ... and transforming the patient payment and care ... innovative new products and services that will ... revenue cycle offerings. These award-winning solutions will ... workflows, remain compliant in an ever-changing environment ...
Breaking Medicine Technology: