Wehrwolfen
Senior Member
- May 22, 2012
- 2,750
- 340
by Jim Hoft
March 16, 2013
Obamacare – It’s a tax.
The media finally got around this week to report on how Obamacare will cause your taxes to go up.
Yahoo reported:
The Affordable Care Act, colloquially known as Obamacare, completely changed how people get health care. With a big expansion of health insurance through mandatory coverage requirements, tens of millions of uninsured Americans will find themselves needing to get enrolled…
…Going forward, though, Obamacare imposes additional Medicare taxes on certain individuals. In particular, two groups will be affected:
•Joint filers with wages or other work-related earnings greater than $250,000 and singles earning more than $200,000 will have to pay an additional 0.9 percentage points in Medicare tax, bringing their total to 2.35% for employees or 3.8% for self-employed workers. Employers are supposed to handle this requirement in their withholding, but for two-earner couples, that may prove impossible, as your employer will have no knowledge of what your spouse earns.
•Those with total adjusted gross incomes of more than $250,000 for joint filers, or $200,000 for singles, will have Medicare taxes imposed on their investment income as well. On whatever amount of investments exceeds the $250,000 gross-income level, you’ll have to pay the full 3.8% surtax yourself.
Read more:
http://www.thegatewaypundit.com/201...ports-on-how-obamacare-will-raise-your-taxes/
March 16, 2013
Obamacare – It’s a tax.
The media finally got around this week to report on how Obamacare will cause your taxes to go up.
Yahoo reported:
The Affordable Care Act, colloquially known as Obamacare, completely changed how people get health care. With a big expansion of health insurance through mandatory coverage requirements, tens of millions of uninsured Americans will find themselves needing to get enrolled…
…Going forward, though, Obamacare imposes additional Medicare taxes on certain individuals. In particular, two groups will be affected:
•Joint filers with wages or other work-related earnings greater than $250,000 and singles earning more than $200,000 will have to pay an additional 0.9 percentage points in Medicare tax, bringing their total to 2.35% for employees or 3.8% for self-employed workers. Employers are supposed to handle this requirement in their withholding, but for two-earner couples, that may prove impossible, as your employer will have no knowledge of what your spouse earns.
•Those with total adjusted gross incomes of more than $250,000 for joint filers, or $200,000 for singles, will have Medicare taxes imposed on their investment income as well. On whatever amount of investments exceeds the $250,000 gross-income level, you’ll have to pay the full 3.8% surtax yourself.
Read more:
http://www.thegatewaypundit.com/201...ports-on-how-obamacare-will-raise-your-taxes/
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