USA Today had a great article on all the different "taxes" in the Affordable Care Act. Though ObamaCare is projected to raise more than $800 billion in taxes, fees and penalties over a decade, 40% comes from about 3.5 million households with adjusted gross incomes above $200,000. Employers, insurers and health care providers are slated to fork over much of the rest. Fewer than 10% of the nation’s 140 million tax filers are likely to pay more. That leaves only a few taxes that will fall partially on some middle-income taxpayers:
•The tax that rendered the law constitutional, to be assessed on those who fail to buy mandated health insurance, could hit about 4 million people across all income brackets. On the other hand, about 18 million people will get tax credits if they buy health insurance plans through new federal or state exchanges.
•About 7 million people could pay more because the law makes it more difficult to deduct medical expenses. People with lower incomes are less likely to itemize deductions.
•About 4 million workers could pay more because of a new $2,500 limit on flexible spending accounts, which can be used to shield medical expenses from taxation.
Taxes for health care law
•Tax on high-cost health insurance plans paid by health insurance companies.
•Annual fee on health insurance providers paid by health insurance companies.
•Increased Medicare tax paid by individuals making more than $200,000 a year or couples making more than $250,000 a year.
•Limited deductions for health expenses paid by individuals claiming $7,500 or more in health expenses.
•10% tax on tanning salon visits paid by people who use tanning salons.
•2.3% tax on medical devices that cost more than $100 paid by manufacturers and importers of medical devices.
•Higher tax on home sales for individuals who make more than $250,000 and couples who make more than $500,000 in profit on the sale of their homes.
"The Affordable Care Act is the largest health care tax cut in history," says Jason Furman, deputy director of the White House National Economic Council. "It will provide a significant net tax cut for middle-class families and the millions of Americans who will seek affordable insurance in the years ahead."
It is doubtful that all these taxes will be implemented.