Federal taxes will go up in response to the affordable care act being enacted. Anytime there are big government expansions people can expect their taxes to go up a little bit in order to compensate for it. Nothing is free after all and we all have to pay our part.
It is said that everyone getting insurance under the affordable care act is not going to raise federal taxes. However, it is hard to see how this is all going to be paid for without taxes being raised. Insurance companies are now charging excessive amounts and the government is picking up most of it for a lot of people.
Obamacare will likely result in higher federal taxes when all is said and done. People that don't have health coverage will have to pay a no-coverage penalty after all. Other fees might exist in the legislation that are set to kick in sometime in the near future. Therefore, American's should be prepared for some kind of increase in taxes.
Obamacare raised some federal taxes on unearned income (investments, dividends, etc.) on incomes over $200,000 for individuals. A 3.8% rate helps pay for increased burdens on low-income families who can't afford to buy their own insurance. This extra revenue is to help offset more poor people who are now required to have health insurance.
Yes there will be taxes raised over time from Obama care. This is a hidden issue with the new plan. Everything comes with a cost and this will not be an exception. So we are going to be taxed to pay for worse medical coverage for the majority of our nation.
Yes, Obamacare will raise federal taxes, because the entire law is a federal tax. Even though people get a product for the tax, in the form of health care, it is a tax nonetheless. If a person chooses not to purchase the product they are forced to purchase, they pay a different tax. Either way, it is a tax.
Obamacare will raise taxes because anyone who doesn't get health insurance will be fined at the end of the tax year. These fines will raise the tax liability for individuals and families who fail to get health insurance, so Obamacare will raise federal income taxes. Anyone who has health insurance won't have to worry and the health care industry will continue to make money thanks to the requirement.