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liberal N proud Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Mar-22-10 09:35 PM
Original message
What the rich will pay
This is going to hurt you more than me kid.



NEW YORK (CNNMoney.com) -- High-income households will be paying more into Medicare as a result of the health reform package President Obama will sign into law Tuesday.

They may pay more still if the Senate approves changes to that package.

But first, what's certain: The Medicare payroll tax is going up for individuals making more than $200,000 in wages, and couples making more than $250,000.

Currently, the Medicare payroll tax is 2.9% on all wages -- with the worker and his employer each paying 1.45%.

Under the new law, starting in 2013, high-income individuals will pay another 0.9 percentage points -- so their share will total 2.35% of their wages.

A single person making $250,000 would pay an additional $450 a year into Medicare relative to what he pays today, according to calculations by Deloitte.

If he made $1 million, he would pay an additional $7,200.

Couples making $500,000 in wages would pay an additional $2,250. If they made $1 million, they would pay an additional $6,750.

If the so-called reconciliation bill that the House passed on Sunday is eventually approved by the Senate, high-income households would also be subject to a new 3.8% Medicare tax on investment income starting in 2013.

http://money.cnn.com/2010/03/22/news/economy/medicare_t...
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DJ13 Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Mar-22-10 09:37 PM
Response to Original message
1. Wow, an additional $7,000 on an income of $1,000,000
:rofl:
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Robb Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Mar-22-10 09:38 PM
Response to Reply #1
2. You laugh, but you've illustrated the point perfectly.
Of course it's no biggie to them. But it's still $7K in the pot that wasn't before.

(flourish) Tah-dah!
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bigwillq Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Mar-22-10 09:49 PM
Response to Reply #2
6. But they think it's too much
They object to any tax on them. They would rather make us pay more.
That tax is not enough, imo.
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Cessna Invesco Palin Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Mar-22-10 09:38 PM
Response to Reply #1
3. Yeah, and the way it is now is soooo much better.
:eyes:
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DJ13 Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Mar-22-10 09:46 PM
Response to Reply #3
4. No, Im saying its too little
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Cessna Invesco Palin Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Mar-22-10 10:54 PM
Response to Reply #4
10. Oh FFS.
You all-or-nothing folks aren't going to be happy unless you get nothing.
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DJ13 Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Mar-22-10 10:57 PM
Response to Reply #10
11. So its too much as far as you're concerned?
Make up your mind.
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leftstreet Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Mar-22-10 09:47 PM
Response to Original message
5. LOL
:rofl:
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Skink Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Mar-22-10 09:54 PM
Response to Original message
7. Now all we got to do is sneak a Social Security fix like this past em/
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samplegirl Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Mar-22-10 10:08 PM
Response to Original message
8. Those poor
Fucking Rich People!!!!!!!!
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inna Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Mar-22-10 10:23 PM
Response to Original message
9. Miniscule measure, but at least it's in the right direction

(unlike most things in the Senate Bill).
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ladjf Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Mar-23-10 11:44 AM
Response to Original message
12. Less than "peanuts". Anyone who objects to such a trivial expense is a sicko. nt
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