What the rich will pay

[liberal N proud]

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_tax_increase/index.htm

[DJ13]

1. Wow, an additional $7,000 on an income of $1,000,000

:rofl:

[Robb]

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!

[bigwillq]

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.

[Cessna Invesco Palin]

3. Yeah, and the way it is now is soooo much better.

:eyes:

[DJ13]

4. No, Im saying its too little

[Cessna Invesco Palin]

10. Oh FFS.

You all-or-nothing folks aren't going to be happy unless you get nothing.

[DJ13]

11. So its too much as far as you're concerned?

Make up your mind.

[leftstreet]

5. LOL

:rofl:

[Skink]

7. Now all we got to do is sneak a Social Security fix like this past em/

[samplegirl]

8. Those poor

Fucking Rich People!!!!!!!!

[inna]

9. Miniscule measure, but at least it's in the right direction

(unlike most things in the Senate Bill).

[ladjf]

12. Less than "peanuts". Anyone who objects to such a trivial expense is a sicko. nt