PRAISE OBAMACARE AND PASS THE AMMUNITION

Here's the latest silver bullet aimed at Obamare. Another reason to shoot it down quickly.

Starting January 1, 2011, more than 15,000 over-the-counter medications cannot be reimbursed tax-free from Health Savings Accounts (HSAs) or Flexible Spending Accounts (FSAs) without a prescription.

Approximately 10 million Americans are covered under HSA/FSA plans for their families' health care needs. Those families contribute tax free money to HSAs and then can withdraw it to pay for their health care needs, including over-the-counter medications. That will all stop faster than a speeding bullet on January 1, 2011, thanks to Obamacare.


Following is a list, compiled by Congressman John Fleming, M.D., of some of the over-the-counter medications that will soon require a prescription for a tax-free withdrawal from an HSA/FSA under Obamacare.


acid controllers
allergy and sinus medications
antibiotics
anti-gas products
anti-itch and insect bite
baby rash ointments/creams
cold sore remedies
cough, cold and flu
digestive aids
pain relievers
respiratory treatments
stomach remedies

SO WHAT DOES THIS MEAN FOR YOU? The Joint Committee on Taxation estimates that this provision of the all encompassing Obamacare will cost American families $5 billion. Hey, Barack, what happened to "NO NEW TAXES?"

And think about this! We don't have enough doctors to handle what Obamacare will require. How are they going to have time for appointments to prescribe Tums, Maalox, Tylenol, Ibuprofen, and on and on?


Fleming has introduced a bill (H.R. 5126) to roll back these taxes on over-the-counter medications. But I would ask why doesn't Fleming's bill repeal all of Obamacare? Come on, Mr. Fleming, muster up some grit, take aim and fire. It's a huge target.

Now how many Dems do you think will support Fleming's small attempt to kill this provision of Obamacare? I would guess NONE. I urge you to contact your representatives to find out whether they will support H. R., 5126. And then remember their response when you vote in two weeks.

You can reach them through the links on the right side of my blog.

TAX TSUNAMI #2 - LOOK OUT, HERE COMES OBAMACARE

TAX TSUNAMI #2 is as bad or worse than Tax Tsunami #1. Let's take a close look at OBAMACARE TAXES.

Obamacare contains over 20 new or higher taxes. Some will first go into effect on January 1, 2011, the rest will phase in by 2014.

The Special Needs Kids Tax. This provision of Obamacare imposes a cap on FSAs which are flexible spending accounts used by the taxpayer to contribute before tax dollars that can be used for out-of-pocket health care expenses. Currently there is no federal government cap on these accounts. Obamacare imposes a $2500 cap. Under Obamacare you will not be able to contribute more than $2500 to an FSA, no matter what your health care needs are.

One of the problems with this provision? There are thousands of families with special needs children and many of them use FSAs to pay for special needs education, which can easily exceed $10,000 per year.

Under the pre-Obamacare rules families could use FSA dollars to fund the special needs education of their children. Under Obamacare FSA dollars cannot be used to pay for this type of special needs education, NONE OF IT. This will have a huge tax impact on families who have special needs children.

The Medicine Cabinet Tax. Obamacare, oh, how great it will be for us, so Obama promised. But look closely at this provision. You will no longer be able to use a Health Savings Account (HSA), a flexible spending account (FSA) or health reimbursement (HRA) pre-tax dollars to purchase non-prescription over-the-counter medication, even medications that your doctor says you must take due to a chronic condition that can be treated with over-the-counter drugs. This provision will force your doctor to write a prescription for something you could get at the counter. Anybody think a "prescription" for an "over-the-counter" drug is going to save money?

The HSA (Health Savings Account) Withdrawal Tax Hike. Currently you can withdraw funds from your HSA for non-medical reasons and pay a 10% penalty. That's the same penalty you pay if you withdraw funds early from an IRA. But under Obamacare the HSA non-medical withdrawal penalty goes to 20%.

These examples are only a few of the over 20 new taxes coming our way under Obamacare.

What was that he said repeatedly during the campaign? Under $250,000 in income your taxes will not change? There will be no new taxes for the middle income taxpayer? Did he really say those things? You Bet!

But I contend these new Obamacare taxes will hit the middle income taxpayer harder than any other group, in spite of what King Obama proclaimed.

AND THERE IS MORE, SO MUCH MORE COMING AT US IN JANUARY.

WATCH FOR MORE INFORMATION HERE!