How To Prepare For New 1-1-2013 Obamacare Tax Hikes

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While the media focuses on the uncertainty of the so-called “fiscal cliff,” millions of Americans are facing a tax-hike certainty: the 20 new taxes imposed by Obamacare that go into effect on January 1, 2013. You’re likely to be one of those affected.

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With the 2012 clock ticking down, many individuals and small businesses are now scrambling to protect themselves from 20 new taxes.

Incredibly, when The Patient Protection and Affordable Care Act (PPACA) was signed into law no one actually had a clue what was in the bill—not Congress, not even Obama.

During the ensuing months the media tore the bill apart and discovered economic bombshells.

6 million new unemployed

The sea change affecting America is scheduled to hit like a tidal wave during 2013 through 2014 and threatens to plunge the U.S. back into a recession steeper than the current one.

One corporation after another is announcing cutbacks, layoffs, reduction of employees’ hours…or simply moving whole divisions overseas.

The forecast for business expansion during the next several years is mediocre at best, probably not enough to keep up with newly graduated college graduates entering the workforce.

The National Manufacturers Association sees bleak times ahead for employment, and the U.S. economy.

Investor’s Business Daily recently summed up the Association’s position this way: “The National Manufacturers Association forecasts 6 million layoffs and an 11 percent unemployment rate as a result of Obama’s pending tax hikes and regulatory siege.”

Of course the tax hikes and a veritable army of new IRS agents enforcing all the new healthcare taxes will only exacerbate an already flailing economy.

Surprises and shocks

One tax account recently summed up all the new taxes as “…an avalanche of surprises and shocks.” His claim is far from an exaggeration when some of the new taxes are analyzed. They include:

1. A medical device tax

2. A tax to provide for children with “special needs”

3. A surtax on investment income that will hit many investors (including private and public pension plans and the retired on fixed incomes)

4. A rise in the threshold for itemized deductions of medical expenses

5. A Medicare payroll tax increase that has a direct, deleterious effect on small businesses making profits and earnings over $200,000 annually.

All this will be dumped on top of a faltering economy with high unemployment and rising underemployment, unarguably the worst economy since the end of World War Two.

Another shocker: property owners may have a new property tax burden. This complicated tax will affect millions of unsuspecting Americans. Its impact is analyzed in the Wall Street Journal article, “Property Owners Face a New Surtax.“

For details on ways to avoid or reduce the new taxes CLICK HERE TO READ MORE NOW.

Read my popular book ‘MYSTERIES OF THE MULTIVERSE’ – click here to learn more

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