When the Affordable Care Act was put into place President Obama promised that it would not be a tax but it had 5 different taxes related to it. These were a total of $494 billion of taxes for the American people. Some of these taxes were the Medical Device Manufacturing Tax, the High Medical Bills Tax, the flexible Spending Account Cap, the Surtax on Investment Income and the Medicare Payroll Tax Increase (Sider).
The Medical Device Manufacturing Tax is a 2.3% excise tax that taxes the revenue of medical device manufacturing companies. This tax also affected the American people as individuals had to be laid off and full-time employees reduced to part-time to cover the cost of this tax (ObamaCare Medical Device Tax). The High Medical Bills Tax is an income tax increase that will effect low to middle income families that have a lot in medical bills to pay. The cost for this will rise between two and three billion dollars annually (Ellis and Kartach). The Flexible Spending Account Cap is a limit on how much a person can put in their flexible spending account. This account is used for mainly healthcare related expenses. This account is not taxed but there is a limit each year for the ...
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...they this can’t happen if we don’t have the money to do so (Turner, Capretta and Miller).
The Affordable Care Act has some positives but they are outweighed by the negatives. These include that the Affordable Care Act website was very difficult to manage when it first came out, many Americans and American business are having to deal with taxes, the American people have also had to deal with increased insurance premiums, you can be insured if you don’t have insurance even for a short period of time, and that many people have lost hours at work so their employers would not have to pay for the employees’ health insurance. With all these difficult problems stemming from the Affordable Care Act I believe we should get rid of the mandate and go back to old system of having people buy their own insurance if they want to and having business the option to provide insurance.
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