The Adventures of Taxicus Spendicus Chapter II


When we last left our Masters of Disaster; that dynamic duo Taxicus Spendicus and his trusty Igor, Oil Can Harry (Reid) I had enumerated 5 of the 21 disasterous taxes they had managed to level upon an unsuspecting We the People; well not entirely most are associated with that most unpopular piece of legislation they rammed down our throat through the reconciliation process as well as several outright bribes Obamacare. I will now reveal to you some of the remaining 16 of the total 21 taxes they have imposed through subterfuge and obfuscation!


Are you aware of the Obamacare Hike in Medicare Payroll Tax? Here’s how this little diddy works; currently small business owners pay 2.9% in Medicare Payroll Taxes for themselves and all employees; well under that Obamanation known as Obamacare this goes up to 3.8% for the small business owners who make over $250,000. That’s a 31% increase; and this Regime purports to be for small business; yeah they’re for eliminating small business!


Continuing in the vein of Obamacare and its disasterous effect upon We the People; are you aware of Taxicus Spendicus and Oil Can Harry’s Medicine Cabinet Tax? You’re gonna love this one. Under this provision of Obamacare (remember we have to pass this bill in order to find out what’s in it), Americans are no longer able to use health savings account (HSA), flexible spending account (FSA), or health reimbursement (HRA) pre-tax dollars to purchase non-prescription, over-the-counter medicines (except insulin).


But wait there’s more, there’s also the Obamacare HSA Withdrawal Tax Hike! This imposes a tax on non-medical early withdrawals from an HSA from 10 to 20 percent, disadvantaging them relative to IRAs and other tax-advantaged accounts, which remain at 10 percent.


Since most of the tax increases are associated with Obamacare here’s the Flexible Spending Account Cap – aka“Special Needs Kids Tax” This tax like most associated with this Obamanation takes effect Jan. 2013). What’s it all about; well it imposes cap on FSAs of $2500 (currently unlimited) which is indexed to inflation after 2013. There is one group of FSA owners for whom this new cap will be particularly cruel and onerous: parents of special needs children. There are thousands of families with special needs children in the United States, and many of them use FSAs to pay for special needs education. Tuition rates at some such schools can easily exceed $14,000 per year. Under tax rules, FSA dollars can be used to pay for this type of special needs education.


Here’s one that further exacerbates Obama’s war on business; Obamacare’s Tax on Medical Device Manufacturers! The Medical device manufacturers employ 360,000 but once this tax takes effect Jan. 2013, they will be forced to pay an additional 2.3% excise tax on all items they retail; wonder how many of those 360,000 will lose their jobs once this little beauty goes into effect! Just one more example of how Old Taxicus is out to punish business!


Remember Taxicus saying over and over and over and over ad infinitum; I will not raise taxes on anyone making less than $250,000. Well folks take a lookie here as Grandpappy Amos would say. Under Obamacare Taxicus raises the Medical Itemized Deduction from 7.5% to 10% of AGI which of course takes effect January 2013. Currently, those facing high medical expenses are allowed a deduction for those expenses to the extent that those expenses exceed 7.5 percent of adjusted gross income (AGI). The new provision imposes a threshold of 10 percent of AGI. Do the math folks; Obama’s folks that make $30,000 could previously deduct all medical expenses above $2,250, now they will have to reach $3,000 before any deductions are allowed. But then again aren’t promises made to be broken; in Obama’s world they are right?


Whew, I’m fed up again so I gotta get away from this. I’ll report on the Adventures of Taxicus Spendicus and his trusty sidekick Oil Can Harry soon but for now I gotta go!




Comments 14 comments

Angela Blair profile image

Angela Blair 4 years ago from Central Texas

This things looks worse the more I read about it -- and I thought I was pretty savvy about what it contained. Lord, help us! Super informative Hub. Best/Sis


Partisan Patriot 4 years ago Author

Thanks Angela; just wait there's more, taxes that is!!!!!!!!!!!


Old Poolman profile image

Old Poolman 4 years ago from Rural Arizona

There is just no end of surprises that were buried deep within the pages of this bill. Don't forget the tax you will pay if you sell your home which I think starts in 2014. Do you think this bill would have passed if anyone had actually read it before they voted?


Partisan Patriot 4 years ago Author

You’re right Old Pool Guy

As for the 3.8% tax on home sales I’ve been trying to sell my home in the Midwest since November 2011 but because of the outstanding Job the Regime has done on the economy can’t seem to find any buyers.

They had to hide what was in this bill as you say because no sane responsible congressperson or senator would have voted for it; that’s right the Democrats controlled the House and Senate when it passed so I just answered my own question.

Anyway I’ll leave you with this famous quote; its’ origin seems to be unknown at least to me:

"Remember, the government cannot give anything to anyone that they have not first taken away from someone else."


The Frog Prince profile image

The Frog Prince 4 years ago from Arlington, TX

A fraud is a fraud and this law was passed fraudulently by a Democratic Congress onto the American people. No one even got to read the bill before it was passed so that should tell the American public just how underhanded it was. Just like one Barack Hussein Obama.

The Frog


Partisan Patriot 4 years ago Author

Amen Brother Froggy, Amen


Old Poolman profile image

Old Poolman 4 years ago from Rural Arizona

Bottom line, this healthcare bill had very little to do with healthcare. The main intent of this bill was to raise more revenue for the government without calling it taxes, and it worked.


Partisan Patriot 4 years ago Author

Correcto-Mundo Old Pool Guy

That's the purpose of these hubs to enumerate all 21 of the new or improved taxes associated with this Obamanation!!!!


Old Poolman profile image

Old Poolman 4 years ago from Rural Arizona

PP - You are doing a job that needs to be done. Sadly, the very one's who need to read this hub will never see it. They are far to busy talking about the new "free" healthcare their glorious leader got for them.


Partisan Patriot 4 years ago Author

Thanks Old Pool Guy

The problem with your very valid point, “the very ones who need to read this hub will never see it,” unless they make it part of the dialog on the Real Housewives of Orange County or part of the monologues on Leno, Letterman, Fallen or Kimble the dufuses that follow Her Furor will never get the message; soak the rich is their battle cry. Poor dumb Bas#&*@s, what did they go to college for if not to become rich or do they go about their daily lives striving to become poor!.

Guess critical thinking has reached critical mass for most of them!!!!!


breakfastpop profile image

breakfastpop 4 years ago

Patriot, I am hoping that Obama caught the attention of people who were planning on voting for him when he called Romney a felon. His campaign went as low as they could go with this accusation. Oh wait, they still could go lower. In any case we are all going to be taxed up the ying yang and that should be a huge turnoff to sane people. Up and awesome.


Guumba 4 years ago

This all started with FDR. More and more Americans have had their hand out since he was President. I honestly believe each and

every Democrap President since FDR has attempted to outdo

the previous Democrap President with giveaways. I have lost any and all confidence in most Americans. This is one sad society!!!!!


Partisan Patriot 4 years ago Author

Pop

The real hard core degenerates that will vote for him regardless will not be turned off by his latest slander; the other hopefully sane Americans who are truly undecided; although for the life of me I can’t figure out how you could be sane and undecided; should realize his attacks on Romney are just his latest attempt to shift the dialog away from his abysmal record.

As for taxes; most that support him are too stupid to figure it out until that pot of water they’re sitting in begins to boil a few years from now and there’s no way out! Problem is they will have dragged the rest of us kicking and screaming into that same pot of water with his re-election!


Partisan Patriot 4 years ago Author

Guumba

Unfortunately I agree whole heartedly with your assessment; this is one sad society!!!!! Given 4 more years and the Eagle will not rise from the ashes left behind by this Regime if in fact the Regime leaves at all in 2016!

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