Another day, another unpleasant surprise from Obamacare, President Obama’s signature achievement. The taxes the law is imposing on the US economy are twice as high as initial estimates.
The Joint Committee on Taxation recently released a 96 page report on the tax provisions associated with Affordable Care Act. The report describes the 21 tax increases included in Obamacare, totaling $1.058 trillion – a steep increase from initial assessment, according to the Tax Prof Blog. The summer 2012 estimate is nearly twice the $569 billion estimate produced at the time of the passage of the law in March 2010.
There’s a list of the taxes at the link.
And the Democrats want to raise taxes by anther trillion.