Hidden Taxes Hurt Just as Much

By January 8, 2010Health Care, Taxation

Coinciding with the new TV spot from Employers for a Healthy Economy (see post below), Investor’s Business Daily editorializes on the billions of dollars of new taxes in the pending health care legislation. From “Hidden Taxes Hurt Just as Much“:

The federal takeover of the nation’s health care system that Democrats are brewing up in Washington will have to be financed by someone. The administration wants to put it on the backs of the middle class in the form of a 40% excise tax on the value of health insurance coverage that exceeds $8,500 a year for individuals or $23,000 for families.

This isn’t just another soak-the-rich scheme. This is going to hit the middle class — the schoolteachers, the steelworkers, the everyday folks of whom Bruce Springsteen sings so passionately.

That’s why House Democrats and labor unions oppose it.

As does the National Association of Manufacturers.

The editorial coincides with the Obama Administration’s reaffirmation of its support for the excise tax. The New York Times reported last evening, “House Democrats Push Back on Cadillac Tax“:

Representative Carol Shea-Porter, Democrat of New Hampshire, who spoke out forcefully against the proposed exicse tax, said afterward that it could hurt middle class families.

“I was standing up for my constituents,” she said in a statement. “I have serious concerns about the excise tax proposal and the effect that it could have on middle class families in New Hampshire and across the country.”

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