The Hidden Obamacare Taxes That Will Crush The Middle Class By - TopicsExpress

The Hidden Obamacare Taxes That Will Crush The Middle Class By Money Morning Staff Reports -------------------------------------------------------------------------------- Get ready to be blindsided by a barrage of new taxes. $1 trillion worth... Theyll be coming courtesy of the Affordable Care Act, otherwise known as Obamacare. And they wont just be affecting those who make over $250,000. The bulk of these taxes will be passed on directly to the middle class. Thats because while a majority of these stealth taxes were designed to be taxes on businesses, theyre actually transferred directly to ordinary citizens. MORE: How much extra will you have to pay? To see how Obamacare taxes will directly affect your paycheck, go here. They include the investment income surtax, a Medicare payroll tax, even a tanning tax on those who utilize indoor tanning services. Many of those [hidden] taxes, especially those on hospitals, insurers and medical device manufacturers, will ultimately be passed on through higher health costs, said Michael Tanner an expert on the healthcare law. In fact, analysts estimate Obamacare will cost the average taxpayer nearly $6,000 in extra taxes as early as next year. Obamacare Tax Hikes Stoke Outrage Many of the Obamacare taxes are already in effect, others will hit January 1. But they are already infuriating millions of Americans. While even Obamacare detractors applaud the requirement that insurance companies cover pre-existing conditions and put a stop to lifetime caps on benefits, they say these laudable benefits dont compensate for the bills high cost - especially in new taxes. According to most experts, Obamacare will create a total of twenty new taxes or tax hikes on the American people. In fact, the Obama administration has already given the IRS an extra $500 million to enforce the rules and regulations of Obamacare. The new taxes dont bode well for millions of middle-class Americans. Incomes for the rich have soared this decade but middle class workers have seen their wages stagnate and even drop since the 2008 Great Recession. Many fear Obamacare with its high insurance costs and new taxes, could provide the middle class a fatal blow.