On January 1, regardless of the outcome of fiscal cliff negotiations, Americans will be hit with a $1 trillion Obamacare tax hike.
Obamacare contains twenty new or higher taxes. Five of the taxes hit for the first time on January 1. In total, for the years 2013-2022, Americans face a net $1 trillion tax hike for the years 2013-2022, according to the Congressional Budget Office.
The five major Obamacare taxes taking effect on January are as follows:
The Obamacare Medical Device Tax
The Obamacare Flex Account Tax
The Obamacare Surtax on Investment Income
The Obamacare “Haircut” for Medical Itemized Deductions
The Obamacare Medicare Payroll Tax Hike