- The Foundry: Conservative Policy News from The Heritage Foundation - http://blog.heritage.org -

Chart of the Week: Obamacare's Barrage of Tax Hikes Coming in 2013

Posted By Rob Bluey On September 30, 2012 @ 9:51 am In Obamacare,Scribe | Comments Disabled

The first presidential debate takes place in Denver on Wednesday with a focus on domestic issues [1], including President Obama’s unpopular health-care law. Obamacare imposes numerous tax increases on Americans, totaling more than $500 billion over a 10-year period.

According to Heritage’s analysis, these higher tax rates on income and investment threaten to slow economic growth. With so much uncertainty already stemming from Taxmageddon [2], this only adds to the concerns of American families and businesses.

One of the most alarming taxes — a new payroll tax on investment income — goes into effect in January 2013. It was cited by Americans for Tax Reform as one of the “top five worst Obamacare taxes coming in 2013 [3].”

More charts like this one are available in Heritage’s Federal Budget in Pictures [4].

Article printed from The Foundry: Conservative Policy News from The Heritage Foundation: http://blog.heritage.org

URL to article: http://blog.heritage.org/2012/09/30/chart-of-the-week-obamacares-barrage-of-tax-hikes-coming-in-2013/

URLs in this post:

[1] focus on domestic issues: http://www.debates.org/index.php?mact=News,cntnt01,detail,0&cntnt01articleid=38&cntnt01origid=27&cntnt01detailtemplate=newspage&cntnt01returnid=80

[2] Taxmageddon: http://www.heritage.org/issues/taxes/taxmageddon

[3] top five worst Obamacare taxes coming in 2013: http://www.atr.org/five-worst-obamacare-taxes-coming-a7217

[4] Federal Budget in Pictures: http://www.heritage.org/federalbudget/

Copyright © 2011 The Heritage Foundation. All rights reserved.