Friday, May 5, 2017

The Obamacare repeal is imperfect, but it does some good things, such as eliminate the tax burden on everyday folks and businesses.



-Abolishes the Obamacare Individual Mandate Tax which hits 8 million Americans each year.
-Abolishes the Obamacare Employer Mandate Tax. Together with repeal of the Individual Mandate Tax repeal this is a $270 billion tax cut.
-Abolishes Obamacare’s Medicine Cabinet Tax which hits 20 million Americans with Health Savings Accounts and 30 million Americans with Flexible Spending Accounts. This is a $6 billion tax cut.
-Abolishes Obamacare’s Flexible Spending Account tax on 30 million Americans. This is a $20 billion tax cut.
-Abolishes Obamacare’s Chronic Care Tax on 10 million Americans with high out of pocket medical expenses. This is a $126 billion tax cut.
-Abolishes Obamacare’s HSA withdrawal tax. This is a $100 million tax cut.
-Abolishes Obamacare’s 10% excise tax on small businesses with indoor tanning services. This is a $600 million tax cut.
-Abolishes the Obamacare health insurance tax. This is a $145 billion tax cut.
-Abolishes the Obamacare 3.8% surtax on investment income. This is a $172 billion tax cut.
-Abolishes the Obamacare medical device tax. This is a $20 billion tax cut.
-Abolishes the Obamacare tax on prescription medicine. This is a $28 billion tax cut.
-Abolishes the Obamacare tax on retiree prescription drug coverage. This is a $2 billion tax cut.
We can definitely be thankful for all of this.  More money in our pockets, less in theirs.


4 comments:

  1. We don't know what the final bill will look like yet. This is a step in the right direction. Allowing all insurance companies to compete all insurance markets will drive down the cost.

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  2. I suspect most conservatives in government will be incapable of agreeing on anything. I hope I am incorrect. I fully expect that o-care will not be repealed, but rather improperly altered.

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  3. Justice Roberts said Obamacare was legal because it was a tax. If all the taxes are rescinded then, by Roberts definition of Constitutional, the balance of the law should be ............. indyjonesouthere

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  4. That's a real nice list. Unfortunately cutting all those taxes means that the Senators and Congressmen won't get the payola they are accustomed to receiving; so it won't pass the Senate.

    More Kabuki theater. Wake me up when it's defeated in the Senate, if it ever even comes up for a vote (probably this is the last we'll hear of it.)

    Yah, I'm cynical. Got the form to leave the R party in hand; thinking of the Constitution Party, just because it would be nice if we started following that old document for a change. Besides, the R party in CA is a total waste of time!

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