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Wed Mar 14, 2012, 04:39 PM

President Obama has already signed a law raising taxes on top earners by $210 billion. [View all]

Little known fact, I know. But the healthcare reform bill included a tax increase on the top bracket of wage earners from 35% to 39.6%. It also imposes Medicare taxes on individuals making over $200k or families making over $250k, and capital gains taxes to 20% from 15%. Those two moves alone raise taxes on top earners by $210 billion dollars. And that's over 6 years, not over 10 years the way the CBO usually calculates it's numbers.

http://en.wikipedia.org/wiki/Patient_Protection_and_Affordable_Care_Act#Summary_of_funding

If 39.6% tax on top earners sounds familiar, it should: 39.6% was the top tax bracket circa 2000, before the two rounds of Bush tax cuts.

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Reply President Obama has already signed a law raising taxes on top earners by $210 billion. [View all]
TheWraith Mar 2012 OP
marlakay Mar 2012 #1
Ziggystrange Mar 2012 #2
TheWraith Mar 2012 #4
Ziggystrange Mar 2012 #5
TheWraith Mar 2012 #6
Ziggystrange Mar 2012 #8
dmallind Mar 2012 #7
Nuclear Unicorn Mar 2012 #3