Putting Our Nation'S Fiscal House In Order
I thank the gentlelady from Tennessee for leading this session and our chairman of the RSC. Indeed, it's true: as of January 1, 2013, in fact, Congresswoman, there will be five new burdens, new tax burdens, on the American people related…
I thank the gentlelady from Tennessee for leading this session and our chairman of the RSC. Indeed, it's true: as of January 1, 2013, in fact, Congresswoman, there will be five new burdens, new tax burdens, on the American people related to the enormous cost of the Federal takeover of our health insurance and in certain respects of our health care.
For one thing--and this is really, really a sad thing--right now, families with special needs children can use pretax dollars. They can protect those dollars to spend them on care and even education for their special needs children in flexible savings accounts. As of January 1, 2013, one of the new tax burdens on those families and on every family that relies on a flexible savings account will be that they will be limited to $2,500 per year. That's it.
Now, tuition at some of the schools for our special needs children run to many thousands of dollars a year, $10,000 or more. It used to be that families could use those dollars for their special needs children. Now they won't be able to. Does that seem fair? It certainly doesn't to me.
We will post a link, because I'm not sure they are right, but we will post a link. Dividend taxes are going to go up on our seniors, on our fixed income families, on our savers. That's another burden, the new taxes that are going to be related to health care, and there are three others other than the flexible savings.