Larry Kudlow on Health Care

Economics of ObamaCare worse than constitutional mistakes

ObamaCare inflicts broad damage on job creation and new business formation. And across-the-board ObamaCare tax increases are inflicting heavy punishment on investment--right when the US economy desperately needs more capital as a way of solving a steep productivity decline

Because of ObamaCare, there's an additional 0.9% Medicare tax on salaries and self-employment income, a 3.8% tax increase on capital gains and dividends, a cap on health care flexible spending accounts, a higher threshold for itemized medical expense deductions, and a stiff penalty on employer reimbursements for individual employee health policy premiums. Each of these tax hikes is anti-growth and anti-job.