Monday, April 19, 2010

Health Care Law will raise taxes on the Middle Class

Taxpayers earning less than $200,000 a year will pay roughly $3.9 billion more in taxes — in 2019 alone — due to healthcare reform, according to the Joint Committee on Taxation, Congress's official scorekeeper. --Jay Heflin
President Barry Hussein Soetoro says under his presidency taxes will not be raised on the middle class but the Joint Committee on Taxation, Congress’s official scorekeeper says that taxes will be raised on the middle class. Who do you believe.

You heard all of the promises. President Barry Hussein Soetoro promised the American Middle Class that his health care law would not raise taxes on the middle class not even one cent. Soetoro said that people making less than $200,000.00 a year and joint filers earning less than $250,000 would not see a tax increase under his watch. (see videos)
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(see 1:44min video)



Yet according to the Joint Committee on Taxation, Congress's official scorekeeper the middle class will get a substantial tax increase of $15.2 billion over 10 years. Once the law is fully implemented in 2019, the JCT estimates (see article)

Once the law is fully implemented in 2019, the JCT estimates the deduction limitation will affect 14.8 million taxpayers — 14.7 million of them will earn less than $200,000 a year. These taxpayers are single and joint filers, as well as heads of households.

"Loss of this deduction will mean higher taxes for 14.7 million individuals and families making under $200,000 a year in 201."—Jay Heflin

The president promised that taxes would not be raised one cent on the middle class under his watch well when he’s voted out in 2012 that might be one of the few promises that he kept.