A new report released by the Joint Economic Committee and authored by Sen. Jim DeMint (R-SC) argues that the tax burden of President Obama’s health care law is far larger than previously acknowledged – and that extending the burden out beyond the current windows of analysis reveals a heavy increased tax burden on America’s middle class.
The report can be found here. In an op-ed DeMint wrote for Investor’s Business Daily, he explains the rationale behind the report:
You probably already know that ObamaCare is full of what Democrats these days call “revenue enhancements” — job-killing tax increases on everything they can think of to pay for their health care takeover.
What you might not know is that the largest tax increases in the ObamaCare legislation are not indexed for inflation.
For example, the “high-earners” surtax hits individuals who make more than $200,000, and couples who earn more than $250,000. People making that much will comprise about 3% of the country in 2013.
But as time goes by, and inflation drives up income, today’s “high-earner” threshold will “medium” earners and, eventually, “almost everyone” earners.
A new report released by the Joint Economic Committee and authored by Sen. Jim DeMint (R-SC) argues that the tax burden of President Obama’s health care law is far larger than previously acknowledged – and that extending the burden out beyond the current windows of analysis reveals a heavy increased tax burden on America’s middle class.
The report can be found here. In an op-ed DeMint wrote for Investor’s Business Daily, he explains the rationale behind the report:
You probably already know that ObamaCare is full of what Democrats these days call “revenue enhancements” — job-killing tax increases on everything they can think of to pay for their health care takeover.
What you might not know is that the largest tax increases in the ObamaCare legislation are not indexed for inflation.
For example, the “high-earners” surtax hits individuals who make more than $200,000, and couples who earn more than $250,000. People making that much will comprise about 3% of the country in 2013.
But as time goes by, and inflation drives up income, today’s “high-earner” threshold will “medium” earners and, eventually, “almost everyone” earners.
