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But first tonight our top story there is a big big job killer tax heading your way.
I'm talking about the massive obamacare tax which is set to slammed both small business and had -- now starting next year obamacare will oppose a new 100 billion dollar sales tax on health insurance.
That's larger than the device tax in the prescription drug tax combined.
My first guest tonight says many small businesses will be forced to close their doors and many private sector jobs will be -- as a result.
Take a look at this map if you happen to live in any of these states California Texas look at all of them you could be hard hit.
Republican congressman doctor Charles was -- -- Louisiana joins me now.
His recent legislation the jobs in premium protection act would stop the Obama care sales tax from going into effect.
Congressman welcome back to the show always good to see you.
I I -- back up a little bit because I think that there's so many obamacare taxes people get lost.
Okay this is a big what this is a sales tax on insurance.
And this is gonna go right to our viewers bottom lines consider this.
Families will pay 7200.
In higher premiums over ten years 7200.
Guys because of this simple tax you say it will kill jobs how.
This is a tax that's gonna hit health insurance premiums for everyone.
It's gonna cause premiums to go up probably the first year a family could actually see 500 dollars higher costs and premiums and health insurance.
And you're right with you figure over the ten year period.
So small businesses are getting hit from every different angle with cost.
And this particular obamacare taxes going to be put it very onerous for our small business owners.
In fact yesterday I had a roundtable discussion with a number of small businesses from my district.
There at all different sectors.
I don't understand congressman you're saying that this is gonna cost jobs why don't people lay folks off because of this tax.
It's gonna be simply just gonna it's gonna be burdened salmon at the end of the day.
The estimates are that we -- lose a 125000.
Jobs because of this tax alone what do you make of that.
Well at a time when we have sluggish economic growth and high unemployment in small businesses are struggling in this environment.
This is a particularly bad hit to them so if you take this coupled with the employer mandate.
Small businesses are -- with a very uncertain but environment and all these things are gonna lead to further job loss.
Now you've got legislation that you're putting forward to stop this I -- to ask you though you know.
At the end of the day.
-- gonna get rid of the tax it's one of those things that supports the bill look we can't afford it already if we start pulling out all these taxes.
That the costs will just be so burdensome what will never get rid of the sixteen trillion dollars in debt.
Well this tax along with the others and Obama care or basically being used to expand.
The coverage under Obama care and we know there are multiple problems with the with the implementation of this law I think over time.
What you're going to see is this this new health law is gonna collapse under its own -- But when you have I think it's 21 new taxes in this bill.
All of these taxes now hitting business -- families on top of what's going on with taxes in this in this economy this is not a good thing.
Well I wouldn't get take you back to something that you just said that I've heard before and I think it's really interstate you say obamacare will collapse under its own weight.
How's -- gonna happen.
Well I think -- The tax burden is causing further revolt.
I think what you're going to see your real problems with the implementation of this states are having trouble putting these exchanges together other states are not going to do it.
I think it at every step of the way they're missing deadlines on the implementation.
-- compliance rate I think it's gonna be interesting to see who gets along and goes a lot on this thing I think you've got an absolutely right.
You know -- have been talking a lot about.
The -- different things that people have to do H&R block now feels like they've got to educate people -- what they're gonna end up paying because.
They realize that a lot of their customers who were low income are gonna end up losing their refunds because of it.
There's so many unintended consequences.
Are you hearing from your constituents about -- are they upset.
They're very upset and this is a big cause of uncertainty especially for small businesses.
This health insurance taxes gonna cause a big spike in premium cost.
Yeah small businesses it's gonna cause a spike four of those you know families are paying their share that premium cost.
This is not helpful at a time when health care costs are going up.
The uncertainty is large for businesses and we're dealing with high unemployment in this country.
I -- to throw one more fact in here Medicare Advantage recipients.
This new -- just this one little tax of the 21.
-- cost them 3500 dollars almost 4000 dollars over ten years they're gonna be paying extra KO.
It's just unconscionable and and I want to say thank you for coming on congressman -- -- your former surgeon.
-- doctor you know what you're talking about we really appreciate your time.
Well thank you it's great to be with you thank you so much.
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