All Americans will pay more taxes in 2013 according to the latest tax bill passed by Congress. Despite Obama’s constant claims that the middle class will not be taxed, it is now a fact that they will face higher taxes.
The Social Security tax will increase to 6.2%. This means that a wage-earner could pay up to a maximum of $200 a month more depending upon salary. So much for the falsehoods of Obama!
But it gets worse. The most obnoxious part of the law is the 3.2% medical device tax. This will have a negative impact on the middle class and retirees. Medical device companies only have about a 3 to 5% profit margin. A 3.2% tax means they will have to raise prices, which is a hidden tax, or lay off employees. Already a Michigan medical device manufacturer has announced layoffs of about a thousand employees.
“A medical device is an instrument, apparatus, implant, in vitro reagent, or similar or related article that is used to diagnose, prevent, or treat disease or other conditions, and does not achieve its purposes through chemical action within or on the body. “ (Wikipedia) They can range from tongue depressors to wheelchairs.
This means everybody who goes to a hospital or a doctor’s office will have to pay more. The kid who gets a splint to fix a broken army will pay more for the splint. The elderly who find it difficult to walk and need a walker will pay more for the walker. The heart attack patient will pay more for the pacemaker implanted to regulate the heart. The list is enormous.
To add insult to injury, there is a .9% payroll tax surcharge for ObamaCare. All wage earners will have less tax home pay in 2013 unless they receive a substantial salary increase that is greater than the tax increases. The anemic economy makes that unlikely because companies now have the added expense of ObamaCare. The middle class has been hoodwinked by Obama.