A Pamphlet from Don Stuart, Preserve Our Nation, LLC
Pamphlet #40 - 11/18/2013

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Affordable Care Act
Taxes and More Deficits

The Patient Protection and Affordable Care Act, aka ObamaCare, is a new tax on the American people to eventually institutionalize Single-Payer Health Care and you know it.

What price are we willing to pay to retain our Liberties and Religious Freedom? This is the price we will pay to lose our Liberties. Is it worth it?

ObamaCare Budget : Congressional Budget Office - July 2013
10 Year Revenue: $ 1,391 Billion
10 Year Cost: $ 2,766 Billion
10 Year Deficit:($ 1,375 Billion)

As taken from the Congressional Budget Office (CBO) update on July 30, 2013, ObamaCare will cost taxpayers $1,375 Billion (2014-2023) above the new ObamaCare taxes/penalties listed below. This $1.375 Trillion over budget will be added to the Federal deficit, Fiscal Years 2014 to 2023.

ObamaCare again ask the young to pay high premiums now for insurance and also to pay the 10 year deficits as we pass ObamaCare debt to our children. What's another Trillion added to the federal deficit for our children and their children to pay?

ObamaCare is projected to cost $2,766 Billion over the next 10 years but will generate only $1,391 Billion in Taxes during the same period and that is, if fully implemented. If the targeted implementation is not achieved, then the cost will increase, the defict will grow and premiums will increase. There is also $25 Billion set aside to bailout the insurance companies.

Here is a summary of the new 10 year taxes contained in Affordable Care Act, aka ObamaCare.
  • New Taxes on Investment Income ($123 Billion)
  • Medicare Payroll Tax Increases ($86 Billion)
  • Excise Tax on Health Insurance Plans, Cadillac Plans ($80 Billion)
  • Mandated Tax on individuals and Employers ($65 Billion)
  • Health insurers Tax ($60 Billion)
  • Biofuel Tax ($24 Billion)
  • Drug Company Tax ($23 Billion)
  • Medical Device Tax ($20 Billion)
  • Medical Expense Tax Deduction Limit Increase to 10% ($15 Billion)
  • FSA new limits ($13 Billion)
  • Non-Prescription purchase not allowed from HSA, FSA, and HRA accounts ($5 Billion)
  • Tax Deduction of paid employer drugs with Medicare Part D eliminated ($4.5 Billion)
  • Elimination of any tax deduction the IRS feels is intended to just reduce taxes owed ($4.5 Billion)
  • Tanning Services Tax ($2.7 Billion)
  • Doubling of penalty of HSA withdrawals ($1.4 Billion)
  • Limit on Health Insurance Executive Pay Tax ($0.6 Billion)
  • Blue Cross / Blue Shield Tax ($0.4 Billion)
  • Charitable Hospitals Tax ($0.1 Billion)
  • W-2 Insurance Reporting ($0.1Billion)

This total amount of taxes collected is over $500 Billion by the end of 2023. Who is going to actually pay these taxes? Yes, you are! That is those who do not qualify for full subsidies.

The tax revenue does not end here but includes the following other revenues.
  • There is another $716 Billion taken from Medicare over the next 10 years. This will be generated by reducing provider's payments in several Medicare programs.
  • Businesses with 50 or more employees that pay the penalty for not providing insurance at $2,000 per full-time employee (non-tax deductible) could amount to $13 Billion per year or $130 Billion over the next ten years. This penalty can rise to $3,000 per employee if any employee receives coverage through the exchange, which is very likely.
  • Individuals who opt to paying penalty instead of purchasing insurance could amount to over $45 Billion over the next 10 years. The penalty in 2014 is highest of 1.0% of Adjusted Gross Income or $95 per adult. The penalty beginning in 2016 is higher of 2.5% of Adjusted Gross Income or $695 per adult not covered.
  • Every insurance policy holder will have to pay $63 in tax for year 2014, 2015 and 2016. This includes all policies even those provided by an employer except Union members where the Union Health Insurance is self-administrated (which most of them are). This will generate $25 Billion dollars to be paid to the insurance companies as a BAILOUT if they underpriced their policies or don’t have enough young adults sign up. The insurance companies still get their money to cover policies expenses plus administrative cost and profits.

In addition to taxes and other revenues, policy premiums will be rising as insurance companies adjust their premiums for the lopsided effects of ObamaCare sign up. As more young individuals opt out, the financial analysis of premium pricing will change and must be revised. So look for premiums to rise in September and October 2014 for year 2015. This will repeat again in 2015 for year 2016.

ObamaCare anticipated the adjustment in policy prices and that is why the $25 Billion bailout fund was setup. The fund is cover for insurance companies before they can adjust their prices during annual renewal. In essance, the insurance policy prices will be running a year behind the implementation prices where participation rates were promised by ObamaCare.

Our only way out of this is for ObamaCare be repealed. But what will protect us in the future from this happening again: another program to force us to buy a health care product we don’t want?

The only answer is an Amendment to the U.S. Constitution. We can only change the rules in the Constitution via Amendments.

Our mission at Preserve Our Nation is to change the rules under which Washington operates, The United States Constitution.

…add Amendment to protect a citizen's freedom to choose a private or public health-care plan of their choice or none at all and make paying cash for health care an individual RIGHT.

Getting the elite Washington establishment, Congress, to pass Amendments and send them to the States for ratification is not going to happen. Why would Congress allow us to put restrictions on them?

The solution is to solicit the States to convene a “Convention of the States” to propose Amendments that would then be sent by Congress to all States for Ratification. Congress would have no choice but to send the Amendments to the States. It’s in the Constitution.

The cost to accomplish this is large and could take up to seven years for ¾ of the States to ratify the Amendments.

We need to build resources today to fund a 50 State campaign to call for a Convention and then to campaign for passage in each State.

Help us. Consider contributing to our cause. Review our proposed Amendments and issues.

Learn what you can do to help save our Nation! Visit our Website Home Page!
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