I’ve written several times about Obamacare’s massive tax increases on the middle class, but saw this from the Motley Fool, a non-partisan financial advisor, in an article entitled “How Obamacare Changed Your Taxes” (link) (emphasis added):
Hitting lower-income workers
Those who earn less than the $200,000 and $250,000 thresholds shouldn’t assume that their taxes will be unaffected by Obamacare. New limitations on flexible spending arrangements will hit taxpayers of all income levels, limiting the amount you can set aside tax-free in a flex plan to $2,500 per year. Previously, there was no technical upper limit, although most employers imposed a $5,000 maximum. But for those who have high levels of predictable medical expenses, the forced reduction in flex-plan use could cost you hundreds of dollars in extra income, Social Security withholding, and Medicare withholding taxes.
Moreover, those who rely on deducting medical expenses won’t be able to get as big a tax benefit from them. Obamacare raised the floor on itemized medical expenses from 7.5% of gross income to 10%. That may not sound like much, but it could reduce your deduction by thousands of dollars and thereby increase your tax bill substantially.
Barack Obama is a broken record (among other things) about how the “rich” should “pay their share”, and yet here is again punishing the middle and lower socio-economic classes. From this we can once again conclude beyond all doubt that he hates wealth and capitalism and prefers punitive taxation and suffocation to a healthy America. Apparently no one is exempt, except maybe the 15 million illegal immigrants here who at this point deserve recognition as the largest group in history to break laws and violate a nation’s sovereignty and get away with it — and in fact be celebrated.