Stealth tax increases via ObamaCare Increased Heavily across the Board.
“Hello 2015” From Our Northern Advisor Regarding New Taxes
A reminder for those who forgot or for many that didn’t know…Our Northern Advisor 1-10-15
Here is what will happen on January 1, 2015: –Top Medicare tax went from 1.45% to 2.35%. -Top Income tax bracket went from 35% to 39.6%. -Top Income payroll tax went from 37.4% to 52.2%. -Capital Gains tax went from 15% to 28%. -Dividends tax went from 15% to 39.6%. -Estate tax went from 0% to 55%. -Remember these facts: -These taxes were all passed only with democrat votes, no republican voted for these taxes. -These taxes were all passed under the Affordable Care Act, aka Obamacare.
Roger: Without doing the math it appears that including state, local and energy taxes, the total annual tax bill for most will now exceed 50% headed for 60%. I’m not sure but it is likely we are the highest in the western world. I know German income taxes, which many would expect would be quite lofty are 30% versus the newUSA income tax of 39.6%.
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