- In his historic health-care bill, for example, there is the new $27 billion “fee” on drug companies that is already in effect.
- Next year, device manufacturers will get hit to the tune of $20 billion, and heath insurers will pay $60 billion starting in 2014—all of which are de facto tax increases because these collections will be passed on to consumers as higher costs.
- As for tax increases on individuals, perhaps he forgot the health-care bill’s new 0.9 percentage point increase in the Medicare payroll tax for families making over $250,000 and singles over $200,000.
- That tax increase takes effect in 2013, as will the application of what will be a 3.8% Medicare surtax (up from 2.9% today) to “unearned income” for the first time. This is a tax hike on investment and interest income, which will reduce the incentive to save and invest.
It’s pretty clear that these are non-trivial tax increases. Obama may call them something other than what they are, and may even believe them to be something other than what they are, but anything that results in the government taking more money from us is a tax. And “us” obviously includes businesses that will, of necessity, charge everyone more for their goods and services, when their taxes rise.
The worst of this fairy-tale from Obama? He claimed that he really hasn’t been scuttling to the center; he’s always been there. That, in his own words, “I’m the same guy.” Yes, you are, Barack: the same old, same old community organizer, socialist radical, pretending to be someone he is not.