Back in October Joe Biden warned America that the Obama Administration was going to raise taxes by a trillion dollars.
He wasn’t kidding.
On January 1, 2013 American producers can expect a trillion dollar Obamacare tax hike.
Americans for Tax Reform reported:
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On January 1, regardless of the outcome of fiscal cliff negotiations, Americans will be hit with a $1 trillion Obamacare tax hike.
Obamacare contains twenty new or higher taxes. Five of the taxes hit for the first time on January 1. In total, for the years 2013-2022, Americans face a net $1 trillion tax hike for the years 2013-2022, according to the Congressional Budget Office.
The five major Obamacare taxes taking effect on January are as follows…
Read the rest here.
And, that doesn’t include the tax hikes you can expect if Congress and Obama do not reinstate the Bush tax cuts before January 1.