• The Heritage Network
    • Resize:
    • A
    • A
    • A
  • Donate
  • 12 Days of Obamacare Surprises: Taxes

    Photo: Jamie Grill Photography Tetra Images/Newscom

    Not all surprises are good. When it comes to Obamacare, the original projections are turning into unfortunately different realities. For the next 10 days, Heritage is going to highlight one of the various changes in Obamacare projections (i.e. cost, enrollment, etc.) from when the law first passed until now.

    To pay for massive new spending provisions, Obamacare includes 18 new or increased taxes, fees, and penalties.

    In 2010, the Congressional Budget Office (CBO) projected that Obamacare’s provisions would generate $669 billion in additional revenue for the federal government from 2010-2019. This figure includes taxes, penalties, fees, and associated effects on revenue from Obamacare and excludes tax credits.

    In 2012, the CBO updated its projections for the same taxes, penalties, fees, and associated effects to equal $1.24 trillion (excluding tax credits) from 2013-2022—which includes two additional years of Obamacare’s implementation. One of the many reasons the estimate is higher is because the number of people paying the individual mandate tax has increased by 2 million.

    Surprise: That’s an increase of $571 billion worth of taxes, fees, penalties, and effects on the American public, all to pay for Obamacare. Now that’s a crummy Obamacare gift Americans won’t be happy to receive.

    12 Days of Obamacare Surprises:

    2. The small business tax credit

    1. And the individual mandate.

    Posted in Featured, Obamacare [slideshow_deploy]

    7 Responses to 12 Days of Obamacare Surprises: Taxes

    1. glm says:

      I got my Welcome to Medicare letter in the mail early in December with the amount due each month for plain ole Medicare. Before my January statement it has increased 10%. this is before I made my first payment. This does not count part B. It is 62.5% higher than my parents paid for Medicare in 2004 for Medicare alone.

    2. Blair Franconia, NH says:

      Unfortunately, this what the takers, now the majority of the population a.k.a., the proles, voted for. We're not quite
      a banana republic but we're headed there. The complete transition to banana republic status will come with one
      of two things: Either, a.), a military coup, or b.), Obama repealing the 20th Amendment so that he can be like his
      amigo, Hugo Chavez, so he can run ad inifinitum.

    3. This Obama care is gonna end up as an miscarriage.Among all other things Obama has tired to put together.

    4. Obama care, should be called misscarriage care, it will end up the same as all the other things he had tried to put together,

    5. Cliff Nelson says:

      We don't need a new e-mail message from you every day. Too much looses its importance. —
      Cliff Nelson at ccnels2@bex.net

    6. Pingback: 12 Days of Obamacare Surprises: The Independent Payment Advisory Board | The Conservative Papers

    7. Pingback: Obamacare: Deficit Reduction?

    Comments are subject to approval and moderation. We remind everyone that The Heritage Foundation promotes a civil society where ideas and debate flourish. Please be respectful of each other and the subjects of any criticism. While we may not always agree on policy, we should all agree that being appropriately informed is everyone's intention visiting this site. Profanity, lewdness, personal attacks, and other forms of incivility will not be tolerated. Please keep your thoughts brief and avoid ALL CAPS. While we respect your first amendment rights, we are obligated to our readers to maintain these standards. Thanks for joining the conversation.

    Big Government Is NOT the Answer

    Your tax dollars are being spent on programs that we really don't need.

    I Agree I Disagree ×

    Get Heritage In Your Inbox — FREE!

    Heritage Foundation e-mails keep you updated on the ongoing policy battles in Washington and around the country.