Obamacare Taxing Your Savings and Investments in the Name of Fairness
Congress can raise taxes because it can persuade a sizable fraction of the populace that somebody else will pay.
– Milton Friedman
This new ObamaCare bargain would for the first time apply the 2.9% Medicare payroll tax to “interest, dividends, annuities, royalties and rents,” so-called passive income that we are told includes capital gains, though the latter wasn’t explicitly mentioned in the proposal. This antigrowth investment tax would apply to singles earning more than $200,000 and joint filers over $250,000 and comes on top of the Senate’s 0.9-percentage-point increase in the payroll tax, which would bring the combined employee-employer share to 3.8%
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There are a lot of details in the Bloodless Coup that some call ObamaCare. There are also many gray areas that are under the whim of the Health and Human Services Secretary, which essentially means that they are under the whim of the Executive Branch. The IRS will be involved with enforcement of some of the provisions of this Power Grab. What are the IRS enforcement powers limited to? There is almost no limit to the powers of the IRS.
The USA is on the edge of possible massive CHANGE. That's what we were promised, was it not?
