New Taxes on the Wealthy Set to Take Effect
Posted at 1:30 p.m. on Dec. 10, 2012
While lawmakers debate the merits of increasing income tax rates for the wealthiest Americans, the New York Times looks at two new taxes set to take effect in January.
“To help finance Medicare, employees and employers each now pay a hospital insurancetax equal to 1.45 percent on all wages. Starting in January, the health care law will require workers to pay an additional tax equal to 0.9 percent of any wages over $200,000 for single taxpayers and $250,000 for married couples filing jointly.”
“The new 3.8 percent tax applies to the net investment income of certain high-income taxpayers, those with modified adjusted gross incomes above $200,000 for single taxpayers and $250,000 for couples filing jointly.”