“Some say shift the tax burden to business and industry, but business doesn’t pay taxes. …Only people pay taxes, all the taxes. Government just uses business in a kind of sneaky way to help collect the taxes. They’re hidden in the price; we aren’t aware of how much tax we actually pay.”–Ronald Reagan, Address to the Nation on the Economy, February 5, 1981
That’s completely gratuitous; they don’t really need the money, they just want everyone to be complicit in the Dead Baby Industry. Like all vampires, they simply can’t get enough dead babies.
You see, the crafters of this legislation were smart. They realized that if they included one huge tax increase in the health care bill it would make headlines all over the country, so they chopped up the taxes into a bunch of smaller pieces in order to make them easier to swallow [you mean “hide” and “decieve”–Ed.]. In fact, one review of the Senate version of the health care bill identified at least 19 tax increases. When you put all of the tax increases together they add up to the biggest tax increase in the history of the United States.
Just a few of them from Boston.com:
Section 9008 – Imposition of annual fee on branded prescription pharmaceutical manufacturers and importers – This piece of the legislation imposes a $2.3 billion excise tax on the pharmaceutical industry. The tax is allocated across the industry and is based on market share, not on income. This tax starts immediately and is non-deductible for the corporation being taxed. These companies will still be required to pay their federal income taxes.
Section 9009 – Imposition of annual fee on medical device manufacturers and importers – This section imposes a $2 billion excise tax on the medical device industry. The fee is allocated across the industry based on market share, not on income. This tax starts immediately and is non-deductible for the corporation being taxed.
Section 9010 – Imposition of annual fee on health insurance providers – Another excise tax. This one is assessed on the health insurance industry in the amount of $6.7 billion per annum and is also based on market share. How can the imposition of $11 billion in excise taxes (section 9008, 9009 and 9010) on the health care industry reduce costs to consumers? Does anyone else suspect these companies will have to pass these costs over to consumers?
When MSNBC anchor Joe Scarborough asked O’Donnell about the overhaul bill on his radio show, O’Donnell said ObamaCare raises taxes by almost $500 billion.
Obama’s historic tax increase nearly doubles the previous record-setting tax that O’Donnell helped craft as Democratic Chief of Staff to the Senate Finance Committee during the Clinton administration.
Even O’Donnell conceded that proposing the largest tax increase in American history during a painful recession and double-digit unemployment was a foolish misadventure.
“We liberal Keynesians do not raise taxes in recessions,” said O’Donnell. “We raise taxes when you’re making money. That’s when we raise taxes. And we love to do it.” …
SCARBOROUGH: But how fascinating, though; Lawrence, the liberal, has given Republicans a great talking point. Largest tax increase ever, in the middle of a recession, when real unemployment’s in double digits–that’s probably where the debate’s going to be and not on the Slaughter Rule this fall.
Not if we can stop it.