IRS Issues 159 Pages of Obamacare Rules

It took the Internal Revenue Service (IRS) 159 pages to explain one new Obamacare tax on investments that will be used to pay for Obamacare.
Only individuals and families making more than $200,000 and $250,000, respectively, will be impacted by the tax, which “applies to a broad range of investment securities ranging from stocks and bonds to commodity securities and specialized derivatives.”

According to the IRS, if a person makes $180,000 in wages and earns $90,000 from investment income for a modified adjusted gross income of $270,000, the 3.8% tax would apply to the $70,000 and the taxpayer would pay $2,660 in surtaxes.”

GET MORE STORIES LIKE THIS

IN YOUR INBOX!

Sign up for our daily email and get the stories everyone is talking about.

Email

Previous post

Obama Administration Wants to Steamroll GOP

Next post

Boehner, GOP Leaders Purge Conservatives from Powerful Committees

Join the conversation!

We have no tolerance for comments containing violence, racism, vulgarity, profanity, all caps, or discourteous behavior. Thank you for partnering with us to maintain a courteous and useful public environment where we can engage in reasonable discourse.