Monday, November 19, 2012

Check Out All The New Taxes You're Going To Pay To Pay For Obamacare...

Now that Barack Obama has been reelected, Obamacare will become reality.

This means that a lot more people in the United States will have health insurance.

If the program works as it is supposed to, it also means that the growth of healthcare spending overall will eventually slow.

Both of those are good.

But, in the near term, Obamacare also means a lot of people will be paying more taxes and higher insurance premiums.

(You didn't think Obamacare was free, did you?)

Here are some of the new taxes you're going to have to pay to pay for Obamacare:

    A 3.8% surtax on "investment income" when your adjusted gross income is more than $200,000 ($250,000 for joint-filers). What is "investment income?" Dividends, interest, rent, capital gains, annuities, house sales, partnerships, etc. Thanks to the expiration of the Bush tax cuts, taxes on dividends will rise rise from 15% to a shocking 43.8% on January 1st, unless Congress cuts a deal with respect to the fiscal cliff. (WSJ) Read more....

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