Read My Lips: 18 New 'Obamacare' Taxes

Tyler Durden's picture




 

Don't worry, the 'fiscal cliff' will all be taken care of; have no fear, the market AAPL will hold up into the election to sustain Obama's hope-and-change; and, as The Heritage Foundry blog reports, in that change, there are 18 new tax hikes on their way via Obamacare.

Not only did the President and his partners in Congress take $716 billion out of Medicare to pay for Obamacare, but they also raise taxes by $836.3 billion to pay for it, with $36.3 billion hitting Americans in 2013 alone. Here’s the Congressional Budget Office (CBO) and Joint Committee on Taxation‘s (JCT) updated cost of the Obamacare tax hikes and penalties.

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Tue, 08/21/2012 - 12:03 | 2724038 LawsofPhysics
LawsofPhysics's picture

Read my lips; that which cannot be sustained, won't be.

Tue, 08/21/2012 - 12:11 | 2724070 hedgeless_horseman
hedgeless_horseman's picture

 

 

I just forwarded this to our 49 employees as further clarification on why we no longer pay for their health insurance.

We could pay twice, but why?

Tue, 08/21/2012 - 12:13 | 2724076 Manthong
Manthong's picture

It’s just a good thing that new, higher tax impositions always produce the projected treasury revenue results.

Tue, 08/21/2012 - 12:20 | 2724103 malikai
malikai's picture

Just think of all the money we're saving!

Tue, 08/21/2012 - 12:22 | 2724112 Vincent Vega
Vincent Vega's picture

Free healthcare for everybody! ye ha

Tue, 08/21/2012 - 12:27 | 2724123 Dalago
Dalago's picture

"The tree of liberty must be refreshed from time to time with the blood of patriots and tyrants. It is it’s natural manure."  - Thomas Jefferson; letter to William Stephens Smith, November 13, 1787

 

USA needs a healthy revolution towards Liberty, again.

Tue, 08/21/2012 - 12:29 | 2724130 francis_sawyer
francis_sawyer's picture

18?... Someone goofed... It was 'supposed' to be '19'...

~~~

http://www.youtube.com/watch?v=NqWWOITHnN4

Tue, 08/21/2012 - 15:08 | 2724867 LMAOLORI
LMAOLORI's picture

 

 

 

Agree

 

Sen. Lieberman Caught Passing Inside Info To Hedge Funds

snip

When Senate Democrats finally brokered a compromise over the proposed health-care law, a group of hedge funds were let in on the deal, learning details hours before a public announcement on Dec. 8, 2009.

The news was potentially worth millions of dollars to the investors, though none would publicly divulge how they used the information. They belong to a select group who pay for early, firsthand reports on Capitol Hill.

more

 

http://online.wsj.com/article/SB10001424052970204844504577100260349084878.html

via

Daily Bail

 

Investors in Health Care Seem to Bet on obama

snip

Who is going to win the presidential election?

You might want to ask Mark T. Bertolini. He just bet $5.7 billion on President Obama.

 Mr. Bertolini is the chief executive ofAetna [AET  Loading...        ( )    ], which on Monday agreed to acquire Coventry Health Care, a huge provider of Medicare and Medicaid programs. His $5.7 billion bet makes a lot of sense if you believe that the Affordable Care Act — otherwise known as Obamacare — will not be repealed.

 Mitt Romney has pledged to repeal the act "on my first day if elected," so any gamble that Obamacare stays intact could be fairly described as a wager that President Obama will remain in office.

 

 

Tue, 08/21/2012 - 12:40 | 2724172 spastic_colon
spastic_colon's picture

hmmmm....i know....i can just save money by being healthier under this plan!.....oh wait, no i can't!  i will still be penalized, oh well, another big mac please!

Tue, 08/21/2012 - 18:04 | 2725477 JPM Hater001
JPM Hater001's picture

Thinking about a letter to the Editor for the last paper in 2013-

Jan 1 I will be on the carmichael bridge...un-insured.  If youa ren't sure which one is me I will be the one smoking a big fat joint.

Tue, 08/21/2012 - 12:46 | 2724198 surf0766
surf0766's picture

If I help him , he gonna help me.

Tue, 08/21/2012 - 14:00 | 2724554 A Nanny Moose
A Nanny Moose's picture

Only government solutions would involve raising revenues by taxing something it wishes to discourage. Tobacco, comes to mind.

O'Bamacare is just a response to the failure of government "solutions"

Tue, 08/21/2012 - 14:30 | 2724698 Zymurguy
Zymurguy's picture

#5 - tax on those who don't purchase healthcare ins.

Um, how can you tax something that wasn't purchased in the first place?  Or is it a penalty to attempt to force someone to purchase something against their will?

Obamacare banking on things like penalties and fees.  Shame the CBO doesn't report on the feasibility of these schemes.  They only check the math, not the numbers plugged into the equation.

 

Tue, 08/21/2012 - 15:07 | 2724880 arby63
arby63's picture

I am still curious how big gov is going to squeeze blood from a bunch of turnips.

Wed, 08/22/2012 - 10:01 | 2727028 Ar-Pharazôn
Ar-Pharazôn's picture

funny thing.....

 

i didnt know what turnips are so i translated it with google translator

 

guess what?

 

turnips translated in italian is RAPE

hahahahahahhahaha

Tue, 08/21/2012 - 16:04 | 2725081 yrbmegr
yrbmegr's picture

One word: mortgage.

Tue, 08/21/2012 - 19:03 | 2725596 SAT 800
SAT 800's picture

"ObamaCare is just a failed government "solution"; there, fixed it for ya.

Wed, 08/22/2012 - 10:01 | 2727034 Ar-Pharazôn
Ar-Pharazôn's picture

dont call it solution plz :P

 

that's one of the biggest problem USA will have to face next decades

Tue, 08/21/2012 - 12:49 | 2724209 e2thex
e2thex's picture

Which tax item is PERSONALLY impacting you ?

Tue, 08/21/2012 - 13:40 | 2724466 SoCalBusted
SoCalBusted's picture

All of them

Tue, 08/21/2012 - 16:33 | 2725210 e2thex
e2thex's picture

Thank you. 

None of them.

That was my point.

Tue, 08/21/2012 - 18:05 | 2725481 JPM Hater001
JPM Hater001's picture

You need to pay more attention.

All taxes are paid by the people.

Tue, 08/21/2012 - 19:04 | 2725598 SAT 800
SAT 800's picture

Fool.

Tue, 08/21/2012 - 14:06 | 2724579 A Nanny Moose
A Nanny Moose's picture

Whatever are you saying?

Tue, 08/21/2012 - 16:35 | 2725220 e2thex
e2thex's picture

What don't you understand in my question?

Tue, 08/21/2012 - 15:36 | 2724969 StreetMoney21
StreetMoney21's picture

Very true statment indeed. I looked at the list and none of the increases apply to me. I don't have a caddy plan and my income is less than 200K and I have no employees so I guess I am straight for now. lol. 

Tue, 08/21/2012 - 16:40 | 2725237 e2thex
e2thex's picture

Our taxes will rise regardless of who sits in the oval office in January.  Right now people aren't readin' the copy.   

 

Wed, 08/22/2012 - 10:04 | 2727044 Ar-Pharazôn
Ar-Pharazôn's picture

can you plz shut the fuck up idiot.

 

THE ONLY ONE CATEGORY THAT CREATE WEALTH IS THE MIDDLE CLASS

 

that is CLEARLY the most affected by these taxes

Tue, 08/21/2012 - 12:04 | 2724042 DoChenRollingBearing
DoChenRollingBearing's picture

The Bank of DoChenRollingBearing is buying more gold today.

Tue, 08/21/2012 - 12:09 | 2724060 NidStyles
NidStyles's picture

Buy some for me as well, I'll be buying Silver for the both of us. 

Tue, 08/21/2012 - 13:48 | 2724500 bobnoxy
bobnoxy's picture

Nice technical breakout on top of stellar fundamentals. Looks like a perfect opportunity...for a massive J.P. Morgan short program to kick in.

Tue, 08/21/2012 - 12:14 | 2724085 EvlTheCat
EvlTheCat's picture

Today????  The Bank of DoChenRollingBearing needs a new investment manager..

Tue, 08/21/2012 - 12:23 | 2724117 DoChenRollingBearing
DoChenRollingBearing's picture

Our Bank has been buying gold for decades, with the same investment manager since 1983.  You must be young...

Tue, 08/21/2012 - 13:32 | 2724426 EvlTheCat
EvlTheCat's picture

It was a joke and they say you are only as young as you feel.  Considering the price spike from yesterday to today, a purchase admission deserves a ribbing.

Tue, 08/21/2012 - 12:05 | 2724043 not fat not stupid
not fat not stupid's picture

Dammit why did they fool with a health care system that was working just fine. Envy of the world.

Tue, 08/21/2012 - 12:05 | 2724049 Dumpster Fire
Dumpster Fire's picture

I think you have your answer.

Tue, 08/21/2012 - 12:09 | 2724059 john39
john39's picture

not really... in the U.S. we spend much more in relative terms on healthcare, but will mediocre results compared to other countries.  the truth is the big pharma and the insurance companies have created an 'illness managment' system that simply makes money of the chronic bad health of Americans, rather than focus educating people about what is really causing their poor health.  all about money.  insurance companies play along... and the big food industry is right there too peddling crap food to overworked struggling americans who don't have the time or the money to feed themselves properly.

Tue, 08/21/2012 - 12:29 | 2724135 Gully Foyle
Gully Foyle's picture

More like people who don't choose/care to feed themselves "properly".

I rarely see anyone bitch about the organic food scam where people pay double for a product with no benefit over it's non-name brand sibling.

Tue, 08/21/2012 - 12:34 | 2724148 CrockettAlmanac.com
CrockettAlmanac.com's picture

Enjoy your bovine growth hormone, but I prefer my milk neat.

Tue, 08/21/2012 - 12:36 | 2724156 johnQpublic
johnQpublic's picture

supporter of the obama hunger insurance program?

i would like to sell you some hunger insurance. Are you insured against hunger? Perhaps you should be! Without this coverage, you may find it impossible to continue to afford feeding yourself and your family. With this coverage, not only will you be assured of continuing to get at least some food, but so will I. In fact, thanks to this plan, I will get to eat very, very well indeed.

 

 

see cluborlov for the rest

Tue, 08/21/2012 - 12:39 | 2724171 pazmaker
pazmaker's picture

BINGO!!  We have a winner!!!

Tue, 08/21/2012 - 13:54 | 2724524 PSEUDOLOGOI
PSEUDOLOGOI's picture

results compared to other countries? 

Are you so frikin naive?????? 

these "reported results" are total BS as reported by other countries.

For example, in order to count as a live birth in Ukraine, the baby has to live for 30 days...

My birth certificate was issued exactly 30 days after I was born.

Now if I had dies AFTER 30 days, it would count towards infant mortality as Ukraine would report it.

If I had died prior to 30 days, it would have been as if I was never born, therefore never reported in the mortality rate.

This is a DIRECT, personal example I can provide you right off the top of my had.  There are MILLIONS more on every imaginable healthcare statistic being "reported" to WHO and other beurocratic, socialist organizations.

On another point:  The sad thing now is that as a result of Obamacare, the USAA will soon begin fudging it's healthcare reportings and watch how USAA propels to #1 on the WHO list.... why?  well, the obamacare passage has to be justified and celebrated.  and USAA already fudges all the other reported numbers.  let's not leave healthcare behind...

Tue, 08/21/2012 - 14:11 | 2724611 johnjkiii
johnjkiii's picture

A. It is the Government that put in place the rules that "big pharma & the Insurance Companies" operate by. Indeed, the hospitals participate in the same schemes perpetrated by the Fed & State governments. 

B. Neither big pharma & the Insurance Companies are Public Utilities. They operate as for-profit companies for the most part. Kaiser is allegedly a non - profit. They use the same rules to price their product.

C. The problem is based on a faulty business model that fosters overcapacity in every aspect of the industry, yet no-one is held to a basic standard of pricing: Published prices so the consumer can determine where and with whom to do business. If all phases of health delivery were subject to the same economic standard as other businesses, much of the cost duplication would disappear.

D. As an example, hospitals charge an average cost of the entire hospital operation for each patient they treat. These charges are calculated to take into consideration the discounts they are forced to give insurers. If there is a hospital that has a normal 50% occupancy rate, this raises the price to customers. regardless of whether the services they offer are used or not.

Obammy care will drive up insurance costs & taxes, reduce care as do other government run systems and we will gain only experience.

Tue, 08/21/2012 - 12:20 | 2724102 kridkrid
kridkrid's picture

It wasn't working fine, it was a complete mess. The problem with obamacare is that we are simply getting more of what made it a mess in the first place. Someday this war's going to end... (explosion and scene).

Tue, 08/21/2012 - 15:12 | 2724901 redd_green
redd_green's picture

Yeah, the ultimate stupidity, brought to you by the test case RomneyCare:   if someone can't affford insurance, so doesn't buy it, then .... give them a hefty fine.   That's stupidity in action.   Who benefitted?    The big health insurers got a nice subsidy.

Tue, 08/21/2012 - 13:36 | 2724446 El
El's picture

That is what government does. It gets in the way and it breaks things.

Tue, 08/21/2012 - 15:10 | 2724893 redd_green
redd_green's picture

Working just fine?   Heh, yeah,   Get back to your crack pipe.

Wed, 08/22/2012 - 10:06 | 2727056 Ar-Pharazôn
Ar-Pharazôn's picture

envy of the world LOL

 

i live in Switzerland and believe me, i would not change even if you pay me my swiss healthcare!

Tue, 08/21/2012 - 12:06 | 2724051 Robot Traders Mom
Robot Traders Mom's picture

"There are 18 new tax hikes on their way via Obamacare"

 

We'll have 18 new taxes no matter which one of these clowns win in November...

Tue, 08/21/2012 - 12:22 | 2724108 john39
john39's picture

republicans talk a good game about obama care...  but they will do nothing to get rid of it, even if Romney wins....  full fascist control of the health care industry (i.e. your body) is a key component of the fascist takeover.  All holistic options that have any health benefits will be outlawed or made incredibly expensive.  you will love big pharma, er big brother, oh hell... what's the friggin difference?

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