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NEW YORK (CNNMoney) -- No one knows for sure what the Supreme Court will do with health care reform. But unless it strikes down the whole law, millions of wealthy families can expect a tax increase come January.
Two big Medicare tax changes were enacted to help pay for the new federal subsidies that millions of Americans will get when they buy health insurance. The tax changes themselves were not among the specific provisions of the law being challenged at the court...
How much more households will pay depends on which Medicare increase they'll be subject to since the Affordable Care Act calls for two changes. Some households will only be subject to one, and some will be subject to both.
The first involves the Medicare tax on earnings. Today, workers pay 1.45% of their wages into Medicare. Starting next year, high-income individuals will pay another 0.9 percentage points on their earned income over $200,000 ($250,000 if married).
The second change pertains to investment income, which to date has never been subject to the Medicare tax. But next year high-income households will start paying a 3.8% tax on at least a portion of their investment income, such as capital gains, dividends and rental income.
Originally posted by spyder550
.9 percent on some of the least taxed people in the world - cry me a river.