Top 10 Healthcare Reform “Myths”: #2- I Will See an Increase in My Taxes as a Result of the Reform Bill

TRUE

Despite what proponents of the bill are trying to tell you, your taxes will more than likely go up as a result of this bill.  If you’re in the $250,000 and over boat ($200,000 for singles), the deal is sealed for you.  Medicare taxes are set to increase for those in the higher brackets, and that’s all of the details the plan gives us.  However, with no funding source set in stone (the administration claims the money will come from “moving things around”) middle-class Americans shouldn’t get to comfortable with their current tax rate because more than likely it’s coming for you too.

Also, all Americans can look forward to a “Cadillac Tax” on expensive health insurance plans right out of the gate.  Also on the horizon?  A 10% tax on indoor tanning services, a.k.a. the tanning bed.  Alternative:  Inhale vigorously in front of a microwave while popping popcorn.  You get cancer twice as fast as in a tanning bed, and it’s totally tax free.  Or, for those who tan not to get cancer, but to get a tan, might a recommend using the actual sun.  It’s free and, once again, totally tax free.  STICK IT TO THE MAN.

Here’s my outlook on the tax situation:  As George H. W. Bush once said, “I promise no new taxes.  Repeat after me, NO NEW TAXES.”  And what did do?  Well, if you’re reading this blog you probably remember that failure, so I’ll let you fill in the blanks.  I put MUCH less stock in the word of Barack Obama and Congress than I did in the word of H.W.

What do you think about the healthcare reform/taxation relationship?

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Thanks for reading!

Rick

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