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Saturday, July 7, 2012

More on the Roberts Tax Increase Kicking in on Jan. 1, 2013

Wall Street Journal:  About That Investment Tax ..., by Laura Saunders:

The word is out: Two new taxes on the affluent and wealthy will take effect as scheduled next year as a result of the Supreme Court's decision upholding the health-care overhaul. One is a new 3.8% tax on net investment income, and the other is a 0.9% increase in the Medicare tax on wages and self-employment income. Both levies apply to joint filers with adjusted gross incomes above $250,000 ($200,000 for singles). A recent Wall Street Journal article discussed the basics (Get Ready for the New Investment Tax, June 30), but many questions remain. Here are some answers.

  • Inflation indexing
  • Effect on Americans abroad
  • AMT interaction
  • Executive compensation
  • Gray areas
  • Chance of repeal

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Comments

"Robert's tax increase?" This was voted by our senate and our house of rep. and signed by our president. I'm sorry, the article was written by the WSJ where rich people do not have to pay taxes and receive government support through bailouts.

Posted by: Nick Paleveda MBA J.D LL.M | Jul 8, 2012 9:33:29 AM

"Obama Tax Increase" is what it really is. He authored it, pushed it through congress and signed the final bill.

Posted by: TaxDudeSC | Jul 9, 2012 11:30:00 AM