Democrats feeling the heat from ObamaCare taxes

Thirty-seven House Democrats have voted with House Republicans to repeal the 2.3 percent ObamaCare medical device tax, which goes into effect next January if not repealed or struck down with the rest of the bill by the Supreme Court. The Hill reports that the House approved a bill by 270-146 that would cover the estimated $29 billion in lost tax revenue by requiring overpayments of insurance subsidies to be "recaptured," yet another element of ObamaCare's byzantine redistribution system. The Obama administration, which has threatened a veto, almost laughably said the bill would raise taxes on "middle-class and low-income families."  Really?  Returning government overpayments is a tax increase? The medical device tax is an excise tax, meaning that it comes right off top-line revenue, regardless of the maker's bottom-line profit, and it will do nothing to help innovation or improve health care, other than soak a few deep pockets.  As Chair of the House Ways and Means...(Read Full Post)

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