From the Foundry at the Heritage Foundation
It’s about time for us to uncover our eyes and take a hard look at what 2013 did to our finances.
Did you feel the pinch of the 13 tax hikes that hit Americans this year?
Before you review the list below, put these two on your watch list for 2014:
- Obamacare’s individual mandate. Beginning in 2014, it’s mandatory to purchase health insurance. If you don’t, you’ll pay a penalty that dramatically increases over time. It starts at $95 or 1 percent of your income (whichever is greater). It rises to $325 or 2 percent of income in 2015, and $695 or 2.5 percent of income in 2016.
- Obamacare tax on insurance companies. If you liked seeing your premiums go up, you’ll love this new tax on health insurers—which they are most likely to pass on to you.
As you start reviewing your tax information for 2013, here’s what you’re contending with.
The 13 Tax Increases of 2013 – Click here for the list.
Right Reason 
January 1, 2014 at 7:22 pm
This is JUST AS WAS PROMISED to us by Obummer . It was partially used in his 2008 Election, and reinforced in 2012 re-election. It’s quite simple….
REDISTRIBUTION OF WEALTH!
It’s happening – but Even though I am a strong Conservative, O-Care & the “ASS-FUNNEL” affect me most. If you are among the TOP EARNERS, you are taking the brunt of these changes. Us “Older retirees” who collect Social Security, take advantage of Medicare, and don’t have 7-digit Net Worths find ourselves pretty much unaffected by most of these changes……
Except for the NON-ILLEGAL ones, that will FLATTEN AMERICA over time – pure INFLATION and HOUSING (Housing in MANY WAYS). The OLD MIDDLE CLASS slides down the pole, from “Not so middle” as “Lower Middle”. From HIGH MIDDLE to Middle. From WEALTHY to High MIDDLE
I USED to think that “Millionaire” was a goal – but there are so many of them now, that they will be DE-CLASSED through taxation to the point where …….
MIDDLE-CLASS BECOMES AVERAGE, AND NOT VERY MUCH AFTER ALL!