Fact Check: Obama’s “Tax Cuts” for the Middle Class
During tonight’s debate, the President just claimed that he cut taxes by $3,600 on the middle class during his Administration. But here’s what he didn’t mention: According to a list compiled by the House Ways and Means Committee (based on Joint Committee on Taxation estimates), Obamacare imposes a whopping $248,000,000,000 in tax increases that will be primarily, if not exclusively, borne by the middle class. Still don’t believe me? Take a look below:
OBAMACARE’S NEW TAXES AND PENALTIES | AMOUNT IN BILLIONS OVER 10 YEARS |
|
$32.0 |
|
$5.0 |
|
$15.2 |
|
$13.0 |
|
$60.1 |
|
$27.0 |
|
$20.0 |
|
$2.7 |
|
$2.6 |
|
$1.4 |
|
$17.0 |
|
$52.0 |
What’s more, several new Obamacare tax increases on the middle class will take effect on January 1: The $2,500 cap on Flexible Spending Arrangements; the higher threshold for deducting medical expenses, and the 2.3% “wheelchair tax” on medical devices, which according to the Congressional Budget Office will “be largely passed through to consumers in the form of higher premiums for private coverage.” If the President REALLY wants to prevent a middle-class tax increase, why won’t he repeal all these Obamacare taxes as well?
With all these tax increases on the way, is anyone surprised that the IRS has hired thousands more new agents to track down Obamacare “tax scofflaws?” What’s clear is that thanks to Obamacare, no one will be able to spell insurance without the letters I-R-S. What’s also clear is that the best way to avoid all these crushing middle-class taxes is to repeal Obamacare in its entirety.