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...
Exactly. About half the population is acting like those rioting in greece.. they want their cake. But things are spinning up for a real major league crash. 1 trillion a year and revenues that will go down after the new taxes hit is not a prescription for good things in the future.
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