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Networks Ignore Taxes from Obamacare
The Affordable Care Act (President Obama’s signature legislation) has increased the tax burden on taxpayers and companies, a fact ignored in recent broadcast news reports.
Obamacare created or hiked at least 13 taxes, Forbes reported Feb. 17. Forbes contributor and tax lawyer Robert Wood said that for the average American, “it’s easy to be overwhelmed” by all the new taxes and forms that come with Obamacare.
In addition to three new IRS forms, Wood wrote that Obamacare taxes included a 40 percent excise tax on high-end “Cadillac” plans, a $63 fee on all plans to help insurance companies cover “the costs of high-risk pools,” and a “tax penalty” of $95 or 1 percent of income per adult without health insurance up to $285 per family for 2014.
But the morning and evening news shows of ABC, CBS and NBC failed to mention Obamacare would raise taxes at all in 87 percent of stories and news briefs that mentioned both healthcare and taxes between Nov. 17, 2014 and Feb. 17, 2015.
Washington Post reporter Jason Millman wrote on Feb. 17, that the tax penalty for not having insurance will increase to $325 or 2 percent of income per person for the 2015 tax year, and that “it’s likely that a lot of people who will have to pay don’t know it yet.” Millman said that most people will not find out they owe this money until they file their taxes, after it is too late to do anything to avoid the penalty.
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