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Patriot Update

$1 Trillion Obamacare Tax Hike Hitting on Jan. 1

Saturday, December 29, 2012

On January 1, regardless of the outcome of fiscal cliff negotiations, Americans will be hit with a $1 trillion Obamacare tax hike. Obamacare contains twenty new or higher taxes.

Major Obamacare taxes taking effect on January 1 are as follows:

The Obamacare Medical Device Tax: Obamacare imposes a new 2.3 percent excise tax on gross sales for manufacturers.

The Obamacare Flex Account Tax: The 30-35 million Americans who use a pre-tax Flexible Spending Account (FSA) at work to pay for their family’s basic medical needs will face a new government cap of $2500.

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