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Monday, August 4, 2014

Did you Know a 2.3% Medical Excise Tax that began on January 1st is supposed to be "hidden" from the consumer?

Who knew a fishing rod was a medical device?


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.

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 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 <http://irs.gov/> <http://irs.gov/> 
Chapter Five http://www.irs.gov/publications/p510/ch05.html 

So being more curious I clicked on "Chapter 5 Of IRS Publication 510."

And what do I find under "MEDICAL DEVICES" under "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, broad heads, and points;
Arrow shafts;
Taxable tires;
Gas guzzler automobiles;
<http://www.irs.gov/pub/irs-pdf/p510.pdf>  We have been fooled again, if we believe that the Affordable Care Act is all about health care.  It is a monstrous law that will ration health care while bankrupting the country.  It also appears to be a law with a whole lot of taxes that we the people have yet to be made aware of.

It is a political con to gain more control.  It is also a method to obtain more taxes for the liberals to buy the votes of the ignorant and uninformed and those who want something for nothing.

I guess it’s just like Nancy Pelosi said, "We have to pass it to see what is in it." 
Well, what is next?  What else is there we do not know about? 
Where is the press?  O yes, it's in the tank for Obama.
Please pass this on

1 comment:

  1. Publication 510, Chapter 5....These are manufacturer taxes and have absolutely nothing to do with medical excise tax. If you actually read through your links, you would find 'Taxable Medical Devices' at the bottom of Chapter 5. What does any of this have to do with the ACA?