By Susan Duclos
[UPDATE 7/1/12] Updated embedded list with effective dates, pages it can be found on, and reflective of the individual mandate excise tax, the largest middle class tax in U.S. history, (Number 17 on the new list) found HERE.
Americans for Tax Reform provides a list and details to 21 tax increases that have been signed into law by Barack Obama since he took office.
Details at ATR, but the list itself is;
1. A 156 percent increase in the federal excise tax on tobacco
2. Obamacare Individual Mandate Excise Tax (takes effect in Jan 2014)
3. Obamacare Employer Mandate Tax (takes effect Jan. 2014)
4. Obamacare Surtax on Investment Income (Tax hike of $123 billion/takes effect Jan. 2013)
5. Obamacare Excise Tax on Comprehensive Health Insurance Plans (Tax hike of $32 bil/takes effect Jan. 2018)
6. Obamacare Hike in Medicare Payroll Tax (Tax hike of $86.8 bil/takes effect Jan. 2013)
7. Obamacare Medicine Cabinet Tax (Tax hike of $5 bil/took effect Jan. 2011)
8. Obamacare HSA Withdrawal Tax Hike (Tax hike of $1.4 bil/took effect Jan. 2011)
9. Obamacare Flexible Spending Account Cap – aka “Special Needs Kids Tax” (Tax hike of $13 bil/takes effect Jan. 2013)
10. Obamacare Tax on Medical Device Manufacturers (Tax hike of $20 bil/takes effect Jan. 2013)
11. Obamacare "Haircut" for Medical Itemized Deduction from 7.5% to 10% of AGI (Tax hike of $15.2 bil/takes effect Jan. 2013)
12. Obamacare Tax on Indoor Tanning Services (Tax hike of $2.7 billion/took effect July 2010)
13. Obamacare elimination of tax deduction for employer-provided retirement Rx drug coverage in coordination with Medicare Part D (Tax hike of $4.5 bil/takes effect Jan. 2013)
14. Obamacare Blue Cross/Blue Shield Tax Hike (Tax hike of $0.4 bil/took effect Jan. 1 2010)
15. Obamacare Excise Tax on Charitable Hospitals (Min$/took effect immediately)
16. Obamacare Tax on Innovator Drug Companies (Tax hike of $22.2 bil/took effect Jan. 2010)
17. Obamacare Tax on Health Insurers (Tax hike of $60.1 bil/takes effect Jan. 2014)
18. Obamacare $500,000 Annual Executive Compensation Limit for Health Insurance Executives (Tax hike of $0.6 bil/takes effect Jan 2013)
19. Obamacare Employer Reporting of Insurance on W-2 ($min/takes effect Jan. 2012)
20. Obamacare “Black liquor” tax hike (Tax hike of $23.6 billion/took effect immediately)
21. Obamacare Codification of the “economic substance doctrine” (Tax hike of $4.5 billion/took effect immediately)
ATR provides the bill name and page number as well as explanations and charts, so click on over.
Also notice how many of those tax increases are not set to go into effect until after the presidential election in 2012?
Hat Tip Drudge @Twitter.
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