Some of the first tax increases to support Obama care pushed their way through IRS lawyers this week as the nation braces for what will most certainly be a difficult tax year in 2013. Even if President Obama drives us over the fiscal cliff, and allows all of the Bush-era tax rates to expire, America will still have to contend with increasing taxes brought on by Obamacare.
According to the Heritage Foundation, Obamacare tax increases look like this:
- 20 million. The Congressional Budget Office (CBO) projects that as many as 20 million Americans could no longer have their current employer-based health coverage by 2019; others predict it could be as high as 35 million.
- 85 million. The Office of the Actuary at CMS estimates that, by 2020, Medicaid enrollment will increase from 54 million in 2010 to 85 million, pushing America closer to government-run health care.
- 400 percent of the federal poverty level. Individuals earning over $44,680 a year and families earning over $92,200 a year are not eligible for any federal subsidies to help purchase coverage under Obamacare.
- $1 trillion. Based on an updated CBO score, Obamacare imposes 18 new taxes or penalties totaling over $1 trillion from 2013 to 2022 that will directly or indirectly impact families, including those earning below $250,000.
- 8.1.2012. Starting August 1, Obamacare forces many employers, regardless of their religious or moral convictions, to offer abortion-inducing drugs, sterilization, and contraception.
- $1.683 trillion. Obamacare expects to spend over one-and-a-half trillion dollars between 2012 and 2022 on its coverage expansion provisions alone, according to the CBO.
- 30 million. Updated CBO estimates show that despite spending over a trillion dollars, Obamacare will leave 30 million Americans uninsured in 2021.
- $716 billion. Although Medicare faces $37 trillion in unfunded obligations, Obamacare takes $716 billion out of Medicare to pay for non-Medicare coverage provisions, according to CBO’s latest update.
- 15. The number of unelected officials that will be in charge of cutting Medicare payments for millions of seniors under the Independent Payment Advisory Board in Obamacare.
- 50.8 percent. The majority of Americans continue to support repeal. The Real Clear Politics Average from March 10, 2012, to July 28, 2012, shows that voters support repeal by an 8-point margin.
In addition to these blatant tax increases, this President has shown that he will use IRS Audits as a way to “increase revenue” and bring in more tax money. President Obama hired 16,000 new IRS auditors under his watch, just for starters. Also, under President Obama IRS Audits have soared on small businesses. Even though the IRS recovers only $972 per hour of auditing small businesses versus $9173 per hour for large businesses, IRS tax lawyers have a clear mandate to go after little guys in hopes of accessing a large pool of “unpaid taxes” in our country.
Never before in my lifetime has the American taxpayer been under such siege in our great nation. Victim of shrinking deductions, closing loopholes, higher tax rates, and now increasing IRS audits — It leaves one to wonder if it isn’t time to leave the country and move to some lovely tropical conservative island in the Carribean?
Check out an article we wrote awhile back on this very subject: Top 10 Conservative Islands To Move or Retire To!