Top Five Worst Obamacare Taxes Coming in 2013
The Obamacare Medical Device Tax – a $20 billion tax increase [the devices covered are available here] . . .Other taxes during an Obama Second term.
The Obamacare “Special Needs Kids Tax” – a $13 billion tax increase . . .
The Obamacare Surtax on Investment Income – a $123 billion tax increase . . .
The Obamacare “Haircut” for Medical Itemized Deductions – a $15.2 billion tax increase . . .
The Obamacare Medicare Payroll Tax Hike -- an $86.8 billion tax increase . . .
A pillar of President Obama’s re-election campaign is a hike in the top two marginal income tax rates. By and large, small employers pay their small business taxes using individual tax rates. If individual tax rates are raised, so are small business tax rates. The top income tax rate is scheduled to rise from 35 percent in 2012 to 39.6 percent in 2013. According to IRS data, a clear majority of all small business profits face taxation at this top marginal income tax rate. . . .
The death tax in 2012 has a top rate of 35 percent, and a “standard deduction” of $5 million ($10 million in the case of a married couple or surviving spouse). President Obama’s plan proposes raising the rate to 45 percent and slashing the exemption to $3.5 million. . . .