hey....we were we aware that a "The 3.8 percent surtax on investment income, meant to help pay for healthcare, goes into effect in 2013." as part of Obamacare?
or was this another nugget that was in the bill that we had to pass in order to find out what was in it?
note the use of the term "surtax"...which by definition is a tax levied on a tax which is imposed to fund Obamacare-a tax...brilliant!...I like this definition- "Surtaxes can be imposed on other taxes. They are usually imposed on the grounds of moral justification; they only affect persons who are already paying taxes rather than extending taxation to new areas or persons who are not previously being taxed."
or redistribution
IRS aims to clarify investment income tax under healthcare law
Fri, Nov 30 2012
WASHINGTON | Mon Dec 3, 2012 6:14pm EST
WASHINGTON (Reuters) - The Internal Revenue Service has released new rules for investment income taxes on capital gains and dividends earned by high-income individuals that passed Congress as part of the 2010 healthcare reform law.
The 3.8 percent surtax on investment income, meant to help pay for healthcare, goes into effect in 2013.
It is the first surtax to be applied to capital gains and dividend income.so probably not the last...foot in door theory
The tax affects only individuals with more than $200,000 in modified adjusted gross income (MAGI), and married couples filing jointly with more than $250,000 of MAGI.
The tax applies to a broad range of investment securities ranging from stocks and bonds to commodity securities and specialized derivatives.
The 159 pages of rules spell out when the tax applies to trusts and annuities, as well as to individual securities traders.
Released late on Friday, the new regulations include a
0.9 percent healthcare tax on wages for high-income individuals.
Additional Medicare Tax
A new Additional Medicare Tax goes into effect starting in 2013. The 0.9 percent Additional Medicare Tax applies to an individual’s wages...
almost missed this one too..
if we go off the fiscal cliff, we can sure raise a lot of money after the 1st
...which should have us softly landing in a pool full of money and entitlements...right?
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