2.3% Medical Excise Tax Obama and the Feds Want to Keep Secret

2.3% Medical Excise Tax Obama and the Feds Want to Keep Secret

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People are going to hate me for this… or love me. Just know that this seems to be the facts… Painful as it is, an article I was sent had this info….

The receipt (pictured) spells out what Obama and the feds want to keep secret – the middle class is being heavily taxed despite all the fatuous rhetoric of Democrats who invariably play the class warfare card to sell their confiscatory taxation policies.

“The 2.3% Medical Excise Tax that began on January 1st is supposed to be ‘hidden’ from the consumer, but it’s been brought to the public’s attention by hunting and fishing store Cabela’s who have refused to hide it and are showing it as a separate line item tax on their receipts,” the email states.

Source

Now being skeptical of this I went to the IRS website and found this!

Q1. What is the medical device excise tax?

A1. Section 4191 of the Internal Revenue Code imposes an excise tax on the sale of certain medical devices by the manufacturer or importer of the device.

Q2. When does the tax go into effect?

A2. The tax applies to sales of taxable medical devices after Dec. 31, 2012.

Q3. How much is the tax?

A3. The tax is 2.3 percent of the sale price of the taxable medical device. See Chapter 5 of IRS Publication 510, Excise Taxes, and Notice 2012-77 for additional information on the determination of sale price.
IRS.gov

So being more curious I clicked on Chapter 5 of IRS Publication 510 And WALLAH! What do I find under “MEDICAL DEVICES” under “MANUFACTURERS TAXES”? Manufacturers Taxes The following discussion of manufacturers taxes applies to the tax on:

  • Sport fishing equipment;
  • Fishing rods and fishing poles;
  • Electric outboard motors;
  • Fishing tackle boxes;
  • Bows, quivers, broadheads, and points;
  • Arrow shafts;
  • Coal;
  • Taxable tires;
  • Gas guzzler automobiles; and
  • Vaccines.
  • IRS.gov

I think we have definitely been fooled, if we believe that the Affordable Care Act is all about healthcare. It truly does appear to be nothing more than a bill laden with a whole lot of taxes that we the people have yet to be aware of!

Aw great, more good news for your pocket book.