Affordable Care Act Debate

Topics: Health insurance, Health care, Indirect tax Pages: 2 (529 words) Published: February 11, 2013
I feel the Affordable Healthcare Act hurts us Americans more than helping us. I believe that with the way our economy is struggling that adding another $940 billion into our defecit is harmful. With this Affordable Healthcare Act in place our taxes will rise. When many Americans are having a hard time making ends meet raising taxes is the last thing we need. The money that is saved not paying taxes can go back into the economy. I know personally when I have extra money it is often spent rather than saved. Taxes will rise because medicare taxes will rise. The wealthiest Americans, those making $200,000 per year or $250,000 for a couple per year will see their Medicare taxes rise from 1.45% to 2.35%. As I argued before a tax hike means less money in our pockets to put back into the economy. It is hard to stimulate the economy to dig ourselves out of this whole we have sunk in when people are having more taxes taken from their paychecks. Speaking of less , the individuals who do not purchase this insurance and do not qualify for Medicaid or subsidies (approximately 1.2% of the population) will be taxed $95 or 1% of income whichever is higher in 2014. It will increase to $325 or 2% of income in 2015 and $695 or 2.5% of income in 2016. These taxes mean less money in our pockets. Us individuals aren't the only ones who this healthcare act will hurt, it will also hurt medical-device manufacturers and importers who will pay a 2.3% excise tax. If you remember the recent excise tax on tanning services this is very similar to that. When the excise tax was put on tanning services it raised the price for monthly memberships at my local tanning salon and many others I have visited. This means less people are able to afford to go tanning, leading to less employees needed to operate these tanning salons. More taxes equate to less jobs that the business is able to provide. Not only would we see this on our check stubs weekly we would also see the negative on...
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