From Newsmax:
A stealth provision in President Obama’s latest healthcare proposal dramatically increases taxes on the wealthy — extending Medicare taxes for the first time to “unearned” investment income.
The new 2.9 percent tax would apply to interest, dividend, annuity, royalty, and rent payments.
Under current law, Medicare payments come from salaries alone and are limited to a percentage of the first $106,800 of a person’s income.
But Obama wants a Medicare tax to be paid on the investment income…
Read full article...
More on taxes:
Tax withholdings plunge to record lows
Tax alert: White House could raise taxes on the middle class
Top economist Laffer: White House budget "is the perfect plan for catastrophe"
