Obama’s Promise Ruled Broken

Supreme Court Rules That Obama Broke His Promises Not To Raise Taxes On The Middle Class

“Supreme Court Upholds Mandate As Tax” (Brent Kendall, Louise Radnofsky and Jess Bravin, “Supreme Court Upholds Mandate As Tax,”The Wall Street Journal , 6/28/12)

OBAMA’S PLEDGE NOT TO RAISE TAXES ON THE MIDDLE CLASS GETS BROKEN AGAIN, NOW 26 MILLION AMERICANS FACE HIGHER TAXES FROM OBAMACARE

Obama Repeatedly Pledged Not To Raise Taxes On Anyone Making Less Than $250,000

In 2008, Obama Promised He Would Not Raise Any Taxes On Families Earning Less Than $250,000 A Year. OBAMA: “I can make a firm pledge. Under my plan, no family making less than $250,000 a year will see any form of tax increase.” (Senator Barack Obama, Remarks At A Campaign Event, Dover, NH, 8/12/08)

• Obama: “Not Your Income Tax, Not Your Payroll Tax, Not Your Capital Gains Taxes, Not Any Of Your Taxes.” (Senator Barack Obama, Remarks At A Campaign Event, Dover, NH, 8/12/08)

• As President, Obama Repeated His Pledge That Those Making Less Than $250,000 A Year Would Not See Their Taxes Raised “A Single Dime.”OBAMA: “If your family earns less than $250,000 a year, a quarter million dollars a year, you will not see your taxes increased a single dime. I repeat: Not one single dime.” (President Obama, Address To Joint Session Of Congress , Washington D.C., 2/24/09)
• Then-Press Secretary Robert Gibbs, When Asked If The Pledge Only Applied To Income Taxes, Said That “The Statement Didn’t Come With Caveats.”REPORTER: “The President’s opposition to tax increases for the middle income. Does that apply to the health care bill, and specifically to this idea about taxing health insurance premiums?” ROBERT GIBBS: “Taxing?” REPORTER: “Health insurance premiums.” GIBBS: “Well, I mean it’s — the statement didn’t come with caveats.” ( Press Briefing By Press Secretary Robert Gibbs , Washington, D.C., 4/15/09)

Now Middle Class Families Face Up To $2,085 In Higher Taxes A Year

As Many As 26 Million Americans Will Now Be Required To Obtain Health Insurance Or Be Taxed By ObamaCare. “About 26.3 million Americans who are currently uninsured will be required to newly obtain coverage or pay a fine.” About 26.3 million Americans who are currently uninsured will be required to newly obtain coverage or pay a fine. In this group, 8.1 million people will be eligible to receive free or close-to-free insurance through Medicaid or CHIP and can avoid the mandate penalties if they do so; hence our finding that 18.2 million Americans (6 percent of the total population, 7 percent of the nonelderly population) will be required to newly purchase coverage or face a penalty.” (Linda J. Blumberg, Matthew Buettgens and Judy Feder, “Timely Analysis Of Immediate Health Policy Issues,” The Urban Institute, March 2012)

Those Without Insurance Will Be Required To Pay A Tax Of Up To $2,085 A Year.“Require U.S. citizens and legal residents to have qualifying health coverage. Those without coverage pay a tax penalty of the greater of $695 per year up to a maximum of three times that amount ($2,085) per family or 2.5% of household income. The penalty will be phased-in according to the following schedule: $95 in 2014, $325 in 2015, and $695 in 2016 for the flat fee or 1.0% of taxable income in 2014, 2.0% of taxable income in 2015, and 2.5% of taxable income in 2016.” (“Focus On Health Reform: Summary Of New Health Reform Law,” The Kaiser Family Foundation, 4/15/11)

• After 2016, The Tax Will Increase Every Year By The Cost-Of-Living Adjustment. “Beginning after 2016, the penalty will be increased annually by the cost-of-living adjustment. Exemptions will be granted for financial hardship, religious objections, American Indians, those without coverage for less than three months, undocumented immigrants, incarcerated individuals, those for whom the lowest cost plan option exceeds 8% of an individual’s income, and those with incomes below the tax filing threshold (in 2009 the threshold for taxpayers under age 65 was $9,350 for singles and $18,700 for couples).” (“Focus On Health Reform: Summary Of New Health Reform Law,” The Kaiser Family Foundation, 4/15/11)

In 2009, Obama Mocked The Idea That The Individual Mandate Was A Tax

In September 2009, Obama Disagreed That The Individual Mandate Was A Tax When Reminded That He Promised Not To Increase Taxes On The Middle Class ABC NEWS’ GEORGE STEPHANOPOULOS: “Probably the most definitive promise you made in the campaign is that no one in the middle class would get a tax increase on your watch.” PRESIDENT BARACK OBAMA: “Right.” STEPHANOPOULOS: “Yet this week, Senator Rockefeller and several other Democrats say that this bill by Senator Baucus is a big middle class tax increase. Do you agree and does that mean you can’t sign it?” OBAMA: “Well, I don’t agree.” (ABC’s “This Week,” 9/20/09)

• When ABC News’ George Stephanopoulos Pointed Out That The Individual Mandate Was A Tax, Obama Vehemently Disagreed: “Absolutely Not A Tax Increase.” STEPHANOPOULOS: “You were against the individual mandate…” OBAMA: “Yes.” STEPHANOPOULOS: “During the campaign. Under this mandate, the government is forcing people to spend money, fining you if you don’t. How is that not a tax?” STEPHANOPOULOS: “That may be, but it’s still a tax increase.” OBAMA: “No. That’s not true, George. The — for us to say that you’ve got to take a responsibility to get health insurance is absolutely not a tax increase. What it’s saying is, is that we’re not going to have other people carrying your burdens for you anymore than the fact that right now everybody in America, just about, has to get auto insurance. Nobody considers that a tax increase. People say to themselves, that is a fair way to make sure that if you hit my car, that I’m not covering all the costs.” (ABC’s “This Week,” 9/20/09)
• Obama Mocked ABC News’ George Stephanopoulos For Looking Up The Definition Of A Tax In The Dictionary. STEPHANOPOULOS: “But it may be fair, it may be good public policy…” OBAMA: “No, but — but, George, you — you can’t just make up that language and decide that that’s called a tax increase. Any…” STEPHANOPOULOS: “Here’s the…” OBAMA: “What — what — if I — if I say that right now your premiums are going to be going up by 5 or 8 or 10 percent next year and you say well, that’s not a tax increase; but, on the other hand, if I say that I don’t want to have to pay for you not carrying coverage even after I give you tax credits that make it affordable, then…” STEPHANOPOULOS: “I — I don’t think I’m making it up. Merriam Webster’s Dictionary: Tax – ‘a charge, usually of money, imposed by authority on persons or property for public purposes.'” OBAMA: “George, the fact that you looked up Merriam’s Dictionary, the definition of tax increase, indicates to me that you’re stretching a little bit right now. Otherwise, you wouldn’t have gone to the dictionary to check on the definition. I mean what…” STEPHANOPOULOS: “Well, no, but…” OBAMA: “What you’re saying is…” STEPHANOPOULOS: “I wanted to check for myself.” (ABC’s “This Week,” 9/20/09)

OBAMACARE’S TAX HIKES ARE ALREADY KILLING JOBS, LIMITING CHOICES AND PUTTING THE PINCH ON MIDDLE CLASS FAMILIES

Obama Pays For His Government Takeover Of Health Care With $500 Billion In Job-Destroying Taxes On Small Businesses, Investments And Innovation. (Douglas W. Elmendorf, Letter To Nancy Pelosi, Congressional Budget Office, 3/20/10; “Estimated Revenue Effects Of The Amendment In The Nature Of A Substitute To H.R. 4872: JCX-17-10,”Joint Committee On Taxation, 3/20/10)

Medical Device Tax Will Hit Middle Class Families And Cost Jobs

Medical Device Tax Is Just One Of ObamaCare’s Provisions That Will Affect The Middle Class. “Other provisions indirectly affecting individuals through possible effects on prices of goods and services include the imposition of an annual fee on manufacturers and importers of branded drugs; the imposition of an excise tax on manufacturers and importers of certain medical devices; repeal of the business deduction for federal subsidies for certain retiree prescription drug plans; the imposition of a fee on insured and self-insured health plans for the Patient Centered Outcomes Research Trust Fund; and the imposition of a 10-percent excise tax on indoor tanning services.” (Joint Committee On Taxation, Letter To Senator Tom Coburn, 3/20/12)

ObamaCare’s 2.3 Percent Tax On Medical Devices Will Negatively Affect Businesses.“Although the fate of the Obama administration’s health reform law is unclear – a U.S. Supreme Court ruling is at least months away – one aspect of the law, a 2.3 percent excise tax on medical devices, is having an immediate dampening effect. Locally, it’s the medical device startups and early-stage businesses that are affected.” (Tom Tobin, “Health Care: The Everywhere Issue,” The Rochester Democrat And Chronicle, 9/25/11)

• The Columbus Dispatch : ObamaCare’s Medical Device Tax Is Already Having A Negative Impact On The U.S. Economy. “A tax on medical devices and equipment tucked into the 2,400-page 2010 Patient Protection and Affordable Care Act illustrates the negative impact the legislation is already having on the U.S. economy. Quite simply, nothing is free.” (Editorial, “The True Cost,” The Columbus Dispatch, 3/26/12)

In A Recent Survey, Nearly Half Of The Medical Device Company Executives Who Responded Said They Planned To Cut Costs And May Be Forced To Lay Off Workers In Order To Comply With The Tax. “According to the survey of 190 financial executives from the medical device manufacturing industry, 40 percent of respondents said their companies are already contemplating actions such as price increases and cost reductions, including possible layoffs, as a way to stay competitive.” (Chris Reidy, “KPMG Survey: New Tax Could Hit Medical Device Companies Hard,” The Boston Globe , 4/18/12)

• Due To The Tax, “Many Companies Will Owe More In Taxes Than They Generate In Profits, Requiring Companies To Lay Off Employees.” “MDMA is very concerned about the impact a $20B device tax will have on patient care, innovation and small businesses . . . Under the current structure, many companies will owe more in taxes than they generate in profits, requiring companies to lay off employees, cut R&D budgets and slow the development of new therapies that will improve the quality of care for all Americans. Moving forward, these issues must be addressed before the tax takes effect in 2013.” (Medical Device Manufacturers Association, “House Health Care Bill Passes,” MDMA, 3/21/10)

At Least Three Firms Have Already Announced Layoffs In Anticipation Of The Tax.“At least three firms have already announced layoffs in anticipation of the tax, including Michigan-based Stryker Corp, a maker of hip and knee replacements that said it will cut its work force by 5 percent, losing 1,000 jobs.” (N.C. Aizenman, “Medical Device Tax Repeal Bill Gains Some Ground,” The Washington Post , 5/30/12)

Mandates On Business Will Cause Middle Class Americans To Pay More For Their Health Care

Middle Class Americans Will Suffer Due To ObamaCare’s Tax On High-Value Health Plans Which Could Force Employers To Pass On The Extra Cost To Employees. “One such provision is the excise tax on high-cost employer-sponsored health coverage. This provision imposes an excise tax on insurers if the aggregate value of employer-sponsored health insurance coverage for an employee exceeds a threshold amount defined in the bill. The tax is equal to 40 percent of the aggregate value that exceeds the threshold amount. It is imposed pro rata on the issuers of the insurance. Though the statutory incident of the tax is borne by the issuer, a portion of this increase is likely to be passed on to employees in the form of higher prices for insurance policies.” (Joint Committee On Taxation, Letter To Senator Tom Coburn, 3/20/12)

• “This Type Of Response On The Part Of Employers May Result In Higher Income And Payroll Taxes For Employees.” (Joint Committee On Taxation,Letter To Senator Tom Coburn , 3/20/12)

Middle Class Americans Could Be Impacted By An Annual Fee on Health Care Providers. “Another provision that indirectly affects individuals is the annual fee on health insurance providers. Under the provision, an annual fee applies to a covered entity engaged in the business of providing health insurance with respect to United States health risks. The aggregate annual fee is apportioned among the providers based on a ratio designed to reflect relative market share of U.S. health insurance business.” (Joint Committee On Taxation,Letter To Senator Tom Coburn, 3/20/12)

• “The Fee Increases Costs For Affected Health Insurance Providers And May Be Passed On To Consumers In The Form Of Higher Prices.” (Joint Committee On Taxation, Letter To Senator Tom Coburn , 3/20/12)

A 3.8 Percent Medicare Surtax Could Hit The Middle Class In The Future

The Increased Medicare Surtax Is Directed At The “The Rich” But “Remember How The Alternative Minimum Tax Was Supposed To Apply Only To A Handful Of Millionaires?” “Oh, and these new taxes aren’t indexed for inflation, so many middle-class families will soon be considered rich and pay the surcharge as their incomes rise past $250,000 due to tax-bracket creep. Remember how the Alternative Minimum Tax was supposed to apply only to a handful of millionaires?” (Editorial, “Taxes Upon Taxes Upon…,”The Wall Street Journal, 7/11/11)

• “Starting In 2013, The Bill Adds An Additional 0.9% To The 2.9% Medicare Tax For Singles Who Earn More Than $200,000 And Couples Making More Than $250,000.” (Editorial, “Taxes Upon Taxes Upon…,” The Wall Street Journal,7/11/11)

• ObamaCare Coupled The 2.9 Percent Payroll Tax With The New 0.9 Percent Payroll Surcharge, Forcing Americans To Pay A 3.8 Percent Tax Hike. “For first time, the bill also applies Medicare’s 2.9% payroll tax rate to investment income, including dividends, interest income and capital gains. Added to the 0.9% payroll surcharge, that means a 3.8-percentage point tax hike on ‘the rich.'” (Editorial, “Taxes Upon Taxes Upon…,” The Wall Street Journal, 7/11/11)

“Taxpayer Costs Over 10 Years: $210 Billion.“ (Editorial, “Taxes Upon Taxes Upon…,”The Wall Street Journal, 7/11/11)

Employers Will Be Hit With Stiff Penalties By ObamaCare

“About One-Third Of Employers Subject To Major Requirements Of The New Health Care Law May Face Tax Penalties Because They Offer Health Insurance That Could Be Considered Unaffordable To Some Employees, A New Study Says.” (Robert Pear, “Study Points to Health Law’s Penalties,” The New York Times, 5/23/10)

• “If An Employer With 50 Full-Time Employees Offers Coverage And 10 Of Those Workers Receive Premium Credits, Or Subsidies, The Employer Would Face A Penalty Of $30,000. If 30 Workers Receive Subsidies, The Penalty Would Be $40,000.” (Robert Pear, “Study Points to Health Law’s Penalties,” The New York Times, 5/23/10)

ObamaCare Raises Taxes $32 Billion Through To A Tax on High Cost Employer-Sponsored Health Coverage. (“Estimated Revenue Effects Of The Manager’s Amendment To The Revenue Provisions Contained In The ‘Patient Protection And Affordable Care Act,”Joint Committee On Taxation Report, 12/20/10)