Wednesday, December 9, 2009

New US Federal Tax on Cosmetic Surgery

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Perhaps you've heard of the current healthcare bill before the US Senate, Page 2045 Sec. 9017, Excise Tax on Elective Cosmetic Medical Procedures included in the Patient Protection and Affordable Care Act. This dense legalese translates to a tax on all cosmetic procedures as partial payment for the healthcare overhaul our current administration is attempting to implement. The provision would add a five percent tax to "cosmetic surgery and medical procedures" to help cover the $849 billion price tag for health care reform. The tax would cover any cosmetic medical procedure deemed "not necessary to ameliorate a deformity arising from, or directly related to, a congenital abnormality, a personal injury resulting from an accident or trauma, or disfiguring disease. The US government is trying to apply a sin tax akin to that on cigarettes and tobacco on cosmetic surgery.

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