Monday, March 29, 2010

The Debts of the Spenders: The US Health Care Bill

Much of the significant tax impact appears to be delayed, but some of the current highlights include:

- An additional 0.9% Medicare payroll tax on income in excess of $200,000 for singles or $250,000 for married couples.
- An additional 3.8% Medicare "unearned income" tax on investment income to the extent it exceeds the same $200,000 for singles and $250,000 for married couples threshold - calculated as a 3.8% tax on the LESSER of investment income or the excess of the taxpayer's income over the aforementioned thresholds.
- A 40% nondeductible excise tax on insurance companies and plan administrators on high cost ("cadillac") insurance plans, if the premiums exceed $10,200 of individuals or $27,500 for families (limits adjusted for inflation).
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