Under Obamacare, Medicare Double Taxation Begins in 2013
August 21, 2012
What is it called when a President targets one segment of society? Oh yes, class warfare.
(CNSNews.com) - A provision of President Obama’s health care law imposes a second Medicare tax on investment income for Americans classified as wealthy, effectively raising taxes on investment income and taxing investors twice.
The provision, a little-known part of ObamaCare, levies a 3.8 percent Medicare tax on investment income for couples making more than $250,000 or individuals making more than $200,000 a year.