Tuesday, February 23, 2010
President Obama's Health Care Tax Increases
The tax centerpiece of President Obama's $950 billion health care plan are (1) increasing the Medicare tax by 0.9% for those with incomes over $200,000 (single) and $250,000 (joint), and (2) extending the 2.9% Medicare tax on wages to investment income (interest, dividends, capital gains, etc.) on those "wealthy" taxpayers:
- Bloomberg, Obama Endorses Medicare Tax, More Drugmaker Fees
- Christian Science Monitor, Obama's Health Care Plan Adds New Investment, Medicare Tax on Wealthy
- Future of Capitalism, Obama Goes for Tax Increases
- Greg Mankw, Financing Healthcare Reform
- The Hill, Tax Group Says Obama Healthcare Proposal Breaks Pledge
- Tax Vox, Obama Would Hit Investments With Medicare Tax, Water Down Insurance Levy
- Web CPA, Obama Presents Unified Health Care Legislation
https://taxprof.typepad.com/taxprof_blog/2010/02/predident-obamas-.html
“I can make a firm pledge," he said. "Under my plan, no family making less than $250,000 a year will see any form of tax increase. Not your income tax, not your payroll tax, not your capital gains taxes, not any of your taxes.” Barak Obama, Sept. 12, 2009
Posted by: hs321 | Mar 22, 2010 6:32:28 AM