Howie, it is a fact that income tax rates have not been changed; medicare taxes have not been changed. I don’t know what accounts for what you’re seeing, but it is not tax increases. Something to do with the stimulus checks given directly to people in 2008 and 2009?
Re Medicare taxes: Did you know that people who make their income from hedge funds and other so-called “investment” income do not pay Medicare taxes on that income? They are entitled, however, to receive Medicare for the same dollar premium as a working stiff who earned his/her income from wages.
The Dems have proposed adding Medicare taxes on “investment” income greater than $250,000/year as one means of shoring up Medicare. To me, that’s quite conservative. I’d tax “investment” income from dollar one. Makes no sense to me why a janitor pays more Medicare taxes than a Wall St. manipulator.
Howie, it is a fact that income tax rates have not been changed; medicare taxes have not been changed. I don’t know what accounts for what you’re seeing, but it is not tax increases. Something to do with the stimulus checks given directly to people in 2008 and 2009?
Re Medicare taxes: Did you know that people who make their income from hedge funds and other so-called “investment” income do not pay Medicare taxes on that income? They are entitled, however, to receive Medicare for the same dollar premium as a working stiff who earned his/her income from wages.
The Dems have proposed adding Medicare taxes on “investment” income greater than $250,000/year as one means of shoring up Medicare. To me, that’s quite conservative. I’d tax “investment” income from dollar one. Makes no sense to me why a janitor pays more Medicare taxes than a Wall St. manipulator.