According to Americans for Tax Reform, there is a $1 trillion tax hike hidden in the fiscal cliff that has been kept under the radar. The Congressional Budget Office estimates new or higher ObamaCare taxes will total a net $1 trillion over the next ten years starting in 2013. The taxes are permanent due to being written into the legislation and come in the form of a medical device tax, surtax on investment income, an increase in the Medicare payroll tax rate, the medical itemized deduction "haircut" tax, employer and individual mandate non-compliance tax and more. The numbers below...
Which is probably WHY little Timmy Geithner was so ready to say the WH was "absolutely" ready to go over the cliff. But doesn't the House still hold the purse strings? Or is Obozo going to bypass that too?
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