UnThreaded | Threaded | Whole Thread (3) | Ignore Thread Prev | Next
Author: fleg9bo Big funky green star, 20000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 4332  
Subject: It's official -- $1 trillion and counting Date: 10/4/2012 11:07 AM
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Recommendations: 2
http://www.atr.org/official-obamacare-trillion-net-tax-hike-...

The Congressional Budget Office (CBO) today came out with new scores for Obamacare. The big statistic that caught our eye was that Obamacare is now officially a $1 trillion net tax increase.

The reason this number is bigger than in the past is because the gimmicks of that law are now running out. Tax hikes were scheduled to start several years after the passage of the bill, creating many "zero" years on a ten-year score. Well, it;'s been several years, so the window dressing chickens are coming home to roost.

In Table 2 of CBO's analysis of repealing Obamacare, they clearly point out how Obamacare is a net tax increase of $1 trillion. If one were to remove the rest of the "zero" years, the net number would be more like $1.1 trillion.

ATR has consistently cataloged all 20 new or higher taxes in the President's healthcare law. Now CBO confirms what we have suspected all along--this is one of the largest tax hikes in U.S. history. When fully phased-in, it should permanently raise net taxes by about two-thirds of a percent of GDP.
____________________

The CBO report is here:

http://www.cbo.gov/sites/default/files/cbofiles/attachments/...

The list of 20 new or higher taxes is here:

http://s3.amazonaws.com/atrfiles/files/files/03232012pr_Obam...

Greece, people. You can see it from here.

--fleg
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (3) | Ignore Thread Prev | Next

Announcements

Foolanthropy 2014!
By working with young, first-time moms, Nurse-Family Partnership is able to truly change lives – for generations to come.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Post of the Day:
Macro Economics

Economic Implications of Cuba
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and "#1 Media Company to Work For" (BusinessInsider 2011)! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement