By Dan Weil,Business News
Obama flips the bird to those who pay taxes
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.
But Obama wants a Medicare tax to be paid on the investment income accrued by individuals making more than $200,000 a year and couples making more than $250,000.
The plan doesn’t make it clear if capital-gains income is subject to the 2.9 percent tax. If it is,the wealthy would face a capital-gains tax rate of 22.9 percent. That’s because the rate already is slated to increase to 20 percent next year from 15 percent currently.
In addition,households with income above $250,000 would see another 0.9 percent added to their Medicare tax on their normal working income. It would put their rate at 2.35 percent.
The new healthcare overhaul is expected to cost $950 billion.
If you keep on taxing the so called rich people and they leave,then were is all this money going to come from ? He is out of touch with America
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Our eyes are wide opened to the tricks,deceit that "OOO"and our crooked legislators are trying to pull over on us. We're not going to be fooled anymore. We know their DOUBLE SPEAK.
IMPEACH "OOO"AND VOTE OUT THE CROOKS IN 2010.
http://www.impeachobamacampaign.com/
It doesn't surprise me about knowing what will happen to My Country. They want to turn this Country into a Third World Country. They want us on our hands and knees. I pray that we the Voters Vote them ALL The hell out. I blame Both sides. How dare the GOP act so spineless. This is what ticks me off the most. They know something but they are not saying. Get them all out of Office. I feel we need a Revolt. That is the only way to get our Points across. Let us Pray that it is not to late.