Bo-Tax? Reid's New Nip/Tuck Tariff

President Obama campaigned on the promise that he wouldn't raise income tax on anyone earning more than $250,000 a year. Since his election, the President has even repeated his pledge. While some say he has already broken that promise by raising taxes on cigarettes by over 200 percent, anyone getting a nose job will feel like they are getting a snow job as well. Section 9017 of Senate Majority Leader Harry Reid's (D-Nev.) ill-named " Patient Protection and Affordable Care Act" adds a tax on cosmetic surgery procedures: There is hereby imposed on any cosmetic surgery and medical procedure a tax equal to 5 percent of the amount paid for such procedure (determined without regard to this section), whether paid by insurance or otherwise. There's no income limit or floor that would exempt people from this tax. Not surprisingly, Speaker Nancy Pelosi (D-CA) and Vice President Joe Biden have been silent on the new levy.

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Tags: Barack Obama, Harry Reid, tax increases, Bo-Tax, Nip/Tuck Tariff To share or post to your site, click on "Post Link". Please mention / link to the ARRA News Service. Thanks!