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99%'er only : Define medicare investment tax?
Any 99% er can show how savvy they are by giving a brief answer.
Thank you!
I appreciate the answer, Alan. I also found the same thing regarding its passage. Lots of sources cite it as a tax planning issue for 2013.
Qris : Googling that gives a reference to the IRS(which as always only makes sense to an accountant) or canadian government sites.
3 Answers
- KiniLv 79 years ago
I dont know what Medicare has to do with the 99%. Most of them are not over 65 or on Medicare. Here is a website that explains the tax on investment income.
It says the current tax is 2.9% and in 2013 it goes up by .9% which is negligible but it is needed for future Medicare solvency and benefits taxpayers when they turn 65.
- qrisLv 59 years ago
1% er only - define "lame attempt at entrapment" Most people, ala the 99%, are smart enough to realize whatever answer was given that did not agree with "your" definition would be ridiculed by you, even if it is the proper definition.
Here's a better question define "mining depletion tax refund" let's see if you are savvy enough to know what that costs the federal government
- Anonymous9 years ago
It is a tax on high earner's investments to cover the costs of medicare.
It was passed by the House and I don't know if it ever was approved by the Senate. It is not part of Obamacare.