SEARCH BLOG: HEALTH CARE
Those wonderful electric scooters [see previous post] may be covered by Medicare, but here's the latest on the latest "back door" way of doing business in Washington....
Health-care reform's 'back-door' taxThat's a payroll tax and an income tax. But it is only for those who don't really earn their money... the way union bosses do.
WASHINGTON (Fortune) -- The big talk on Capital Hill may be about health-care reform, but as part of this massive undertaking, the Democrats are quietly reshaping the tax system too. Tucked inside President Obama's latest health-care proposal is a major change to the Medicare tax.
Since its conception, the Medicare tax has always been tied to payrolls. Every paycheck, employers and employees each chip in 1.45%, regardless of how much someone makes. Under Obama's proposal -- which should be very close to what Congress winds up enacting -- a Medicare tax would now be applied to investment income too: Individuals who earn more than $200,000 and couples over $250,000 would pay an additional 2.9% surtax on unearned income from interest, dividends, annuities, royalties and rents.
Read the rest....
If you don't earn the money, simply receive it... from investing in business, or providing rental housing for those who can't afford to buy, or from the sale of your creative products... then you pay this tax. Follow the hidden message?
Check your wallets.