Medical Excise Tax...........PLEASE READ......YOU are paying....

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BIG WAGS
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2013/04/05 21:47:00 (permalink)

Medical Excise Tax...........PLEASE READ......YOU are paying....


More of the Obamanation ...... The chief liar is revealed again....and congress did not know?
Medical Excise Tax on Retail Receipts
This is an image of a sales receipt from Cabela’s, a popular sporting goods store.

“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.
[cid:1.2668148953@web162502.mail.bf1.yahoo.com]

I did some research and found directly from the IRS's website information that PROVES this to be true and an accurate portrayal of something hidden in Obamacare that I was not aware of!

Now being sceptical 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<http://www.irs.gov/uac/Medical-Device-Excise-Tax:-Frequently-Asked-Questions>    Chapter Five http://www.irs.gov/publications/p510/ch05.html

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<http://www.irs.gov/pub/irs-pdf/p510.pdf>

I think we have definitely been fooled, if we believe that the
Affordable Care Act is all about health care. 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!


#1

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    scaremypsu
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    Re:Medical Excise Tax...........PLEASE READ......YOU are paying.... 2013/04/10 06:35:39 (permalink)
    I assume this is some email that you were forwarded and not your post?
     
    check out link below, you should research before you post
     
    http://www.omaha.com/arti...130108/MONEY/701089985

    #2
    BIG WAGS
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    Re:Medical Excise Tax...........PLEASE READ......YOU are paying.... 2013/04/10 20:01:14 (permalink)
    Yes I see your link.
    However, you didn't look up the IRS documents.
    The tax IS being paid by the manufacturer.
    Do you really think the manufacturer won't relay that on to you ????
    #3
    scaremypsu
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    Re:Medical Excise Tax...........PLEASE READ......YOU are paying.... 2013/04/11 09:40:07 (permalink)
    I am not debating the validity of the tax or who pays it, there are numerous excise taxes that we pay on a daily basis including arms, ammunition, fishing equipment, binoculars ect.  Personally I find that an excise tax on medical equipment to help fund the new health care bill logical (that is obviously my opinion).  However,  I am just suggesting that before you post emails that are forwarded to you, it would be wise to do a little research to see if they are in fact true.  I can bet that that 99 percent of those emails BS.
    #4
    DarDys
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    Re:Medical Excise Tax...........PLEASE READ......YOU are paying.... 2013/04/13 11:14:12 (permalink)
    Excise or value added taxes typically go to the sector they are associated with, such as the outdoor sporting equipment VAT's that go to hunting and fishing agencies via roberst and Pittman.  Keeping with that philosophy, VAT's on on medical equipment would go for healthcare funding.  However, should VAT's on sporting equipment go to medical?

    The poster formally known as Duncsdad

    Everything I say can be fully substantiated by my own opinion.
    #5
    scaremypsu
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    Re:Medical Excise Tax...........PLEASE READ......YOU are paying.... 2013/04/14 18:28:36 (permalink)
    No, sporting goods should not pay for health care, Is there any credible sources that says it does?
    #6
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