Obama Screws Everybody That Needs A Medical Device...that includes the middle class!

A hat-tip to my friend Fred B. for forwarding the following email.  Looks as though Obama is wiggling his way out of the blame game concerning taxes on not just the middle class but all classes!  Anyone needing to purchase a medical device item will subject to all costs incurred in manufacturing that item regardless of the purchaser's income level.  Obama is attempting to hide the tax by not requiring retailers to identify the tax on the sales receipt...he also has the Internal Revenue Service trying to convince the easily convinced that the consumer will not have to deal with the tax (see question 5 below). ~ Norman E. Hooben

----- Original Message -----

From: link removed

To: link removed

Sent: Saturday, February 16, 2013 3:03 PM

Subject: Fwd: Fw: NEW TAX

NEW TAX THAT OBAMA SAID WOULD NOT COME, AND YET HERE IT IS.

WONDER WHAT THEY WILL DO TO CABELLA'S FOR SHOWING IT ON THE RECEIPTS THEY HAND TO THEIR CUSTOMERS
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.
     
end of email

 

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The following from the IRS 

Medical Device Excise Tax: Frequently Asked Questions

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.
Q4. Who is responsible for reporting and paying the medical device excise tax?
A4. Generally, the manufacturer or importer of a taxable medical device is responsible for filing Form 720, Quarterly Federal Excise Tax Return, and paying the tax to the IRS.

Q5. Will individual consumers be subject to any reporting or recordkeeping requirements?
A5. Generally, no action is required by individual consumers. Because the tax is imposed upon the sale of a taxable medical device by the manufacturer or importer, the manufacturer or importer is responsible for reporting and paying the tax.

Q6. Who is the manufacturer for purposes of the medical device excise tax?
A6. Generally, with regard to the medical device excise tax, the manufacturer is the person who produces a taxable medical device from scrap, salvage or junk material, or from new or raw material, by processing, manipulating or changing the form of a device or by combining or assembling two or more devices.
Full questionaire continues here.