“Botax” Expected to Raise $5 Billion Over Next Ten Years
Posted by Cosmetic Surgery Review on November 25, 2009
Millions of Americans who set their sights on procedures such as Botox, rhinoplasty, tummy tuck, hair transplants and breast augmentation will now be responsible for paying this cosmetic surgery tax, now known as “botax” on every procedure.
According to WebCPA.com, the cosmetic surgery tax will raise $5 billion over the next decade, and the bill will also include an increase in the Medicare payroll tax for couples earning more than $250,000 a year and for individuals earning over $200,000 – an increase of .5 percent.
Nova Cosmetic Center, a cosmetic and aesthetic center in Orlando, claims that the excise tax is actually a discriminatory tax because “this will not have considerable consequences on the wealthiest patients, but, as usual, affects the middle class. Working women, soccer moms and scores of others who carefully save and budget to improve their appearance and self esteem will be penalized for doing so.”
Dr. Angela Cuzalina, a cosmetic surgeon based in Tulsa, Oklahoma and the president-elect of the American Academy of Cosmetic Surgery also points out out that “You’d be surprised how price sensitive people are to this…It’s a tax against women and the baby boomer generation having these procedures.” (Source: KaiserHealthNews.com)
Many plastic surgeons say that this will be a “devastating” move because many practices are only just beginning to recover from the effects of the recession. Some cosmetic surgeons and industry professionals are urging patients to contact their State Senator and fight for no government interference in medical care.
Procedures that will be affected by the “botax” include aesthetic treatments such as teeth whitening, Botox and dermal filler injections, some skin tightening treatments, face lifts, hair transplants, and all cosmetic surgery procedures.