You probably think I am daft for writing that, but that is exactly what happened when the House voted to replace Obamacare and replace it with something saner. Rolling back Obamacare also rolled back the taxes the Democratic Party imposed.
Americans for Tax Reform added up the taxes repealed and the total was a trillion-dollar boost to the economy over the next decade.
The repeal-and-replacement of Obamacare:
-Abolishes the Obamacare Individual Mandate Tax which hits 8 million Americans each year.
-Abolishes the Obamacare Employer Mandate Tax. Together with repeal of the Individual Mandate Tax repeal this is a $270 billion tax cut.
-Abolishes Obamacare’s Medicine Cabinet Tax which hits 20 million Americans with Health Savings Accounts and 30 million Americans with Flexible Spending Accounts. This is a $6 billion tax cut.
-Abolishes Obamacare’s Flexible Spending Account tax on 30 million Americans. This is a $20 billion tax cut.
-Abolishes Obamacare’s Chronic Care Tax on 10 million Americans with high out of pocket medical expenses. This is a $126 billion tax cut.
-Abolishes Obamacare’s HSA withdrawal tax. This is a $100 million tax cut.
-Abolishes Obamacare’s 10% excise tax on small businesses with indoor tanning services. This is a $600 million tax cut.
-Abolishes the Obamacare health insurance tax. This is a $145 billion tax cut.
-Abolishes the Obamacare 3.8% surtax on investment income. This is a $172 billion tax cut.
-Abolishes the Obamacare medical device tax. This is a $20 billion tax cut.
-Abolishes the Obamacare tax on prescription medicine. This is a $28 billion tax cut.
-Abolishes the Obamacare tax on retiree prescription drug coverage. This is a $2 billion tax cut.I came up with a total of $1,489,000,000,000 in tax cuts or nearly $1.5 trillion.
That is a lot of money to let the people keep.
Job well done -- well, halfway done. Time to get the Senate to repeal-and-replace Obamacare.
On November 8, 2016, the American people said, "Trump the Establishment!"
Now read the book that explains how and why the press missed this historic the election.
It is available on Kindle, and in paperback.
And then read the original, "Trump the Press," which chronicled and mocked how the media missed Trump's nomination.
It is available on Kindle, and in paperback
Autographed copies of both books are available by writing me at DonSurber@GMail.com
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