Once in office, President Obama broke this pledge a mere 16 days into his administration when he signed a tobacco tax hike into law (industry statistics say that the average smoker earns less than $40,000 per year).
Then Obamacare hit the president’s desk. In signing that jobs-killing bill into law, he broke his promise to middle income families at least seven times.
The individual mandate has an excise tax for non-compliance of at least 2.5 percent of adjusted gross income. There is no exemption for families making less than $250,000 per year.
Oops! Probably just an oversight.
The medicine cabinet tax prevents families from using their health savings accounts (HSAs) or workplace flex-savings accounts (FSAs) to purchase non-prescription, over-the-counter medicines on a pre-tax basis. There is no exemption for families making less than $250,000 per year.
The “special needs kids” or “braces” tax puts a cap of $2,500 for the first time on FSAs. Prior to Obamacare’s passage, families with very high medical bills could put an IRS-unlimited amount in their FSAs to pay for things like special needs tuition or braces on a pre-tax basis. Obamacare changed all that. There is no exemption for families making less than $250,000 per year.
I believe those earning less than $250,000 would be classified as the 99% made infamous by Occupy (insert place here).
Finally, in 2018 Obamacare will levy a 40 percent excise tax on high-cost (“Cadillac”) health insurance plans — which will, of course, have to be built into the health insurance premium, making them even more expensive. As you might have guessed by now, there is no exemption for families making less than $250,000 per year.
Most folks with "Cadillac" plans are union members that have collectively bargained for . . . rich benefit health insurance plans.