Those who are “whooping it up” over Barack Obama and his Party’s victory won’t care about this list of taxes and other plagues that will be forced on us by Obamacare come next January. Some are blissfully ignorant of what is coming, others have always been content to be serfs, and still others know all this and don’t give a damn – they like hanging out and drinking beer in the park. Nevertheless, those who voted for Barack Obama who still work and have a real life have big surprises coming their way.
The most serious plague of re-electing Barack Obama is that it has put into peril the spiritual life of his Christian and Orthodox Jewish supporters. Someday, they will be called upon to explain their support for those who desecrate God’s laws.
Obamacare will force faith-based medical facilities to close or commit abortions. Obama’s voters have opted for a free phone and a loaf of cheese rather than standing tall for the laws of God.
On a secular and immediately tangible level, Obamacare does not make anything about healthcare free for anyone for very long. The few years of false “healthcare prosperity” that we’ll see in the short run will eventually give way to a harsh new reality.
Less than two months from now, the threshold after which medical expenses are deductible will rise from 7.5% to 10%. This will be a very serious problem for many people – some who voted for Obama and don’t know it.
There are 24 million Americans who have Flexible Spending Accounts; and doubtlessly, many voted for Obama. In less than two months, a new federally-imposed $2,500 annual cap will take the place of the current $5,000. With the price of a set of braces at about $5,000 or more, the applicable medical bills of middle class families will quickly surpass $2,500. It will be bad enough that Susie can’t get her overbite fixed; but when her developmentally-challenged brother Billy needs to go to a special private school their parents must pay for, Billy will be warehoused in a city school with 15 other kids. When this happens, his parents who supported Obama will have to watch him regress.
Do things like this make a difference? Ask the 13.5 million Americans whose Health Savings Accounts already keep them from purchasing over-the-counter medicines with pre-tax income.
To pay for Obamacare, in less than two months, the capital gains tax goes from 15% to 20% with a surtax pushing it to 23.8%; and the top dividend rate zooms from 15% to 39.6% (and its surtax level moves its effective cost to 43.4%.)
Many of those who will be destroyed by these new taxes voted for Obama. Nevertheless, the rest of us will suffer right along with them. Those who believe that the investor class will continue to invest under these circumstances are simply naïve. When the last of them are bled white or have left the country, the curtain comes down on America.
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