Taxed Enough Already? Not for Obama and the Democrats.

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 — not your income tax, not your payroll tax, not your capital gains taxes.  Not any of your taxes.

As seen in that great new video from the House Republican Conference, those were the words of then Sen. Barack Obama, and that promise was a cornerstone of his campaign. It was rhetoric which allowed him to come off, to so many, as a guy who would govern from the center.  Obviously, those who paid attention to the people who shaped Barack Obama’s worldview and to his own words outside of the campaign bubble knew what was coming.

Now, in the 16 or so months which have passed since Barack Obama’s inauguration in January 2009, he and the Democratic Party leadership have signed into law more than $670 billion in gross tax increases.  $670 billion.  That works out to be more than $2,000 in gross tax increases for every living man, woman and child in the United States of America.

Furthermore, among the tax increases are 14 distinct violations of the president’s promise that Americans earning less than $200,000 for individuals and $250,000 for families would not see a single dime of increased taxes.  I guess that, because he never told America to read his lips, it was just fine to lie through his teeth.

Thanks to the folks at the Committee on Ways & Means Republicans, here’s a handy list of the new and increased taxes imposed by this administration and by congressional Democrats, broken down by the newly enacted laws in which the new taxes and tax increases appear.

Have fun, and happy Tax Day.

SCHIP Bill

  • Tobacco tax increase and expanded enforcement authority. A gross tax increase of $65.51 billion over ten years.  Affects middle class families.

American Recovery and Reinvestment Act (the so-called “stimulus” bill)

  • Repeal guidance allowing certain taxpayers to claim losses of an acquired corporation. A gross tax increase of $6.97 billion over ten years.

UI Benefits, NOL Relief & Homebuyer Credit

  • Federal Unemployment surtaxes extended through June 2011. A gross tax increase of $2.57 billion over ten years.  Affects middle class families.
  • Delay of rules to reduce the double-taxation of worldwide American employers until 2018. A gross tax increase of $20.12 billion over ten years.

HIRE Act

  • Delay of rules to reduce the double-taxation of worldwide American employers until 2021. A gross tax increase of $5.94 billion over ten years.

Health Care Reform Bill

  • New tax on individuals who do not purchase government-approved health insurance. $17 billion in new taxes over the next ten years.  Affects middle class families.
  • New tax on employers who fail to fully comply with government health insurance mandates. $52 billion in new taxes over the next ten years.  Affects middle class families.
  • New 40 percent excise tax on certain high-cost “Cadillac” health plans. $32 billion in new taxes over the next ten years.  Affects middle class families.
  • New ban on the purchase of over-the-counter drugs using funds from FSAs, HSAs and HRAs. $5 billion in new taxes over the next ten years.  Affects middle class families.
  • Increased Medicare tax on wages and self-employment income by 0.9 percent and impose a new 3.8 percent surtax on certain investment income (for individuals over $200,000 and couples over $250,000). $210.2 billion in new and increased taxes over the next ten years.
  • Increased, from 7.5 percent to 10 percent of income, the threshold after which individuals can deduct out-of-pocket medical expenses. A gross tax increase of $15.2 billion over the next ten years.  Affects middle class families.
  • Imposed a new $2500 annual cap on FSA contributions. $13 billion in new taxes over the next ten years.  Affects middle class families.
  • New annual tax on health insurance. $60.1 billion in new taxes over the next ten years.  Affects middle class families.
  • New annual tax on brand name pharmaceuticals. $27 billion in new taxes over the next ten years.  Affects middle class families.
  • New 2.3 percent tax on certain medical devices. $20 billion in new taxes over the next ten years.  Affects middle class families.
  • New 10 percent tax on indoor UV tanning services. $2.7 billion in new taxes over the next ten years.  Affects middle class families.
  • New tax on insured and self-insured health plans. $2.6 billion in new taxes over the next ten years.  Affects middle class families.
  • Penalty doubled for non-qualified HSA distributions. A gross tax increase of $1.4 billion over the next ten years.  Affects middle class families.
  • Eliminated the deduction for expenses allocable to Medicare Part D subsidy. A gross tax increase of $4.5 billion over the next ten years.
  • Limited the deduction for compensation to officers, employees and directors of certain health insurance providers. A gross tax increase of $600 million over the next ten years.
  • Required information reporting on payments to corporations. A gross tax increase of $17.1 billion over the next ten years.
  • Imposed additional requirements for section 501(c)(3) hospitals. A gross tax increase of $400 million over the next ten years.
  • Made “black liquor” ineligible for cellulosic biofuel producer credit. A gross tax increase of $23.6 billion over the next ten years.
  • Codified economic substance doctrine and imposed penalties for underpayments. A gross tax increase of $4.5 billion over the next ten years.
  • “Other revenue effects.” $60.3 billion in new taxes over the next ten years.
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Comments

  1. Yeh I'm the Taxman says:

    Let me tell you how it will be
    There’s one for you, nineteen for me
    ‘Cause I’m the taxman, yeah, I’m the taxman

    Should five per cent appear too small
    Be thankful I don’t take it all
    ‘Cause I’m the taxman, yeah I’m the taxman

    If you drive a car, I’ll tax the street,
    If you try to sit, I’ll tax your seat.
    If you get too cold I’ll tax the heat,
    If you take a walk, I’ll tax your feet.

    Don’t ask me what I want it for
    If you don’t want to pay some more
    ‘Cause I’m the taxman, yeah, I’m the taxman

    Now my advice for those who die
    Declare the pennies on your eyes
    ‘Cause I’m the taxman, yeah, I’m the taxman
    And you’re working for no one but me

  2. Boston Blackie says:

    That works out to be more than $2,000 in gross tax increases for every living man, woman and child in the United States of America.

    That’s IF every man, woman and child paid taxes.

    This is the main reason that I took a vaction day yesterday to attend the Boston Tea Party event. Though the lame stream media tried to downplay it as a bust with a showing of a few thousand, the Boston Police put the crowd estimate at 13-15 thousand. Not bad for a Wednesday 10 A.M. event. The crowds surely would have been double if Sarah had spoken during the lunchtime so workers could attend during their breaks.

  3. Game on? says:
  4. Gail B. says:

    I thought slavery was abolished before I was born!

  5. Have it your way says:

    You can get the new O’bama Happy Meal at McDonald’s now.. You order it and the guy behind you pays for it. Sadly.. you can’t eat it until 2013.

  6. Scriv says:

    I would like to see a breakdown of the taxes we pay on what we buy. After dolling out what we give in income taxes, we pay the sales tax (some states don’t). We are all very aware of these direct taxes, but what of the taxes we pay that are included in the cost of the item we are purchasing.

    Lets use an example of a bag of apples.

    The farmer pays taxes on the land he farms, the labor that he has, the equipment and chemicals he uses to farm, the energy he consumes in running the farm, and probably a few more areas that I am missing here.

    Then there are taxes paid in the place that the apples are “proccessed” (bagged, washed, prepared for distribution). They are similar- labor, energy, property, and taxes paid on the equipment and supplies needed to do their job.

    The shipping firm used for delivery pays a similar set, and so does the store that you visit to buy those apples. How many different taxes are being paid with the sale price of those apples? We are all very aware of the 30% (plus or minus from income taxes and direct sales tax) that we hand over, but this may show 50% or more of the money spent on that bag of apples going to the government in some way. This is just my speculation at this point, but I am sure there is an economy buff that could lay it out.

    All in all, our founders started a revolution for much less. We need to wake up. Hope all you folks had an opportunity to attend a tea party or rally today, it’s time to stand up and be heard!

    Thanks for the Ways and Means info, Jeff. I printed out the pdf from their site and passed it out at our local tea party today.

  7. Anonymous says:

    Scriv,

    it’s Whiskey Rebellion time.
    Our 18th century forefathers would be so ashamed of us.

    PS. Don’t forget the municipal sewage taxes for when we are finally done with those apples.

  8. whats_up says:

    and yet income taxes are at a historical low in this country. But the good Conservatives keep saying that they are not, what gives here, perhaps some of my conservative brethren can explain to me their gap in logic.

  9. John Buyon says:

    the lady in the video says we are over taxed !!! BULLSHIT ALERT

    no that’s wrong as any right winger tells you 50 percent of the population pays 90 percent of the income taxes.

    Americans are not under taxed, they are under served.
    they pay their 20-25% in taxes and it is wasted on military, and useless subsidies and unnecessary entitlements that no one asked for.

    they cant see the government helping them because years of conservative propaganda makes the people think that 25% of tax dollars go to foreign aid, and 50% go to welfare.

  10. Oh Canhedump says:

    Leave it to a Canadian to say the military is a waste….. and a post he made just a few days ago said nothing is more important.
    BIPOLAR ALERT!!!!!

  11. John Buyon says:

    first I am a canadian and an AMERICAN
    Yes military is more important than anything else but should the military be given endless wars, and get 40% of the budget, at a time when we aren’t engaged in a cold war, or a world war?

    by the way I never understood who america is scared of?
    Iran and North Korea?
    these crippled countries, that could be destroyed by 6 nuclear bombs, if they don’t implode in on themselves?

  12. Anonymous says:

    To the dual citizenship genius,

    It’s looking like we will implode on ourselves before those two sorry countries.

  13. Doh ! says:

    Tax evasion advice to hookers and child peddlers. 5.8 Billion dollars much better spent than on defense.

  14. A colossal waste says:

    “Americans are not under taxed, they are under served.”

    Do you think before you type, comrade?

    Do you think giving them more money, will improve service?

  15. Anonymous says:

    Somebody enlighten me. Why would an AMERICAN citizen ever want a secondary citizenship to Canada? Just curious. Seems very backwards.

  16. Janai says:

    You Sir/Madam are the enemy of confusion eevwrhyere!

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