Tax Man

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Joe Kawfi
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Joined: 07/20/2009

Obama Plans 'Backdoor' Tax to Pay for Health Plan

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.

"If you drive a car, - I'll tax the street;
If you try to sit, - I'll tax your seat;
If you get too cold, - I'll tax the heat;
If you take a walk, - I'll tax your feet......."


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