Obamacare is a Trojan horse designed to whittle away the middle class with pernicious taxes. Especially hard hit will be seniors and Baby Boomers. The government tried to sell its taxation scheme folded into Obamacare by saying only tanning salons and so-called “Cadillac” high-end insurance plans would feel the crunch. As it turns out, many if not most of the taxes will fall on a middle class reeling from a debilitated economy. The taxes will be hidden in levies exacted on health insurance companies, especially those with large market share. The fees will be used to compensate insurers who take on the most expensive policyholders, according to a report posted by Politico. In short, Insurance companies will pass the fees on to consumers.
Other taxes and fees on hospitals and caregivers will hit the middle class hard. “Many of those [hidden] taxes, especially those on hospitals, insurers and medical device manufacturers, will ultimately be passed on through higher health costs,” Michael Tanner, an expert on Obamacare, told Money Morning. “According to most experts, Obamacare will create a total of twenty new taxes or tax hikes on the American people.” The Obama administration skirted the normal appropriation process to give the IRS $500 million to beef up its taxation enforcement. According to the Government Accountability Office, the transfer outside the purview of Congress and the American people was legal because other government agencies have set a precedent of violating the Constitution. “New federal health insurance taxes, both premium taxes and excise taxes, will also affect older workers and retirees,” writes Alyene Senger. “The higher taxes on prescription drugs (effective in 2011) and medical devices (effective in 2013) will affect seniors especially, as they are more heavily dependent on those very products.”