Obamacare includes such an assortment and volume of negative guidelines that it’s hard to keep track of all of them. 200,000 or even more. The income threshold is not indexed for inflation, so more and more middle-income families will be hit by the taxes hike as time goes on. It adds a fresh tax to investment income.
The increased payroll tax rate is also applied to high-earners’ investment income for the very first time from 2013. It will hit capital benefits, dividends, rents, and royalties, discouraging investment and harming economic growth. It puts new limitations on those with FSAs and HSAs. Starting in 2012, Obamacare restricts the products that consumers may purchase with a Health Savings Account (HSA) or Flexible CHECKING ACCOUNT (FSA)-such as over-the-counter medications-and escalates the penalty for such non-qualified uses of HSAs.
It adds a new taxes on those who purchase medical devices. 28.5 billion tax hike on medical device manufacturers. The industry will pay for this taxes by reducing careers and moving additional costs to consumers. It penalizes marriage. Obamacare creates new taxpayer-funded subsidies for the low and middle classes to purchase health coverage, but the structure of the subsidies allows two individuals to declare more in subsidies by itself than if wedded. This discriminates against married couples and discourages relationship at almost all age and income levels.
It violates religious liberty. The Section of Human being and Health Services included the full range of contraceptives, including abortion-inducing drugs, among the women-specific preventive services that Obamacare requires insurers to include with no cost-sharing. This mandate violates Americans’ conscience rights and spiritual liberty. Its slim exemption for spiritual employers shall force many who find the products morally objectionable-including spiritual charities, private hospitals, and schools-to purchase them.
It places Medicare decisions in the hands of the unelected board. The Independent Payment Advisory Board, a table of 15 unelected officials, will have the power to cut Medicare spending without congressional authorization. These unaccountable government appointees can restrict seniors’ usage of providers, treatments, and services. It puts a premium taxes on health insurance providers. It creates a new unsustainable entitlement program. On top of Social Security, Medicare, and Medicaid, Obamacare created a new long-term care entitlement called the CLASS program. It is unsound actuarially, unworkable, and unsustainable. It places over fifty percent of most Americans on the nationwide federal government program.
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Hong Kong fell 2.4 percent while Sydney and Shanghai shed 2.6 percent. Manila and Wellington were down around two percent also. Although Chinese and US negotiators are set to reconvene in Washington in early September for another round of talks after last week’s discussions in Shanghai, investors are not expecting a reprieve soon, analysts said. Rodrigo Catril, older strategist at National Australia Bank or investment company. SHANGHAI/BEIJING (Reuters) – China’s official Communist Party newspapers said on Tuesday the United States was “deliberately destroying international order”, day after Washington branded Beijing a currency manipulator in a quickly escalating trade dispute a.
In a strongly-worded editorial, the People’s Daily also said the United States was holding its own citizens to ransom, without mentioning the latest U.S. The responsibility of big countries is to supply the world with stability and certainty while creating conditions and opportunities for the normal development of most countries, based on the editorial.