These small “surprise” taxes are so annoying

[Anonymous]

I’m new to having a high enough income to owe them. 0.9% “additional Medicare tax”, 3.8% “net investment income tax” ON TOP of the main Medicare and capital gains taxes.

Come ON!!! There goes my expected $1500 refund, now I’ll owe $500. I over withheld $1k every month on my w4 last year thinking I’d finally get something back instead of owing thousands.

[Anonymous]

So should the additional Medicare tax be applied to low earners instead? I'm confused as to what is your actual gripe.

[Anonymous]

Be grateful that you have a good paying job. Taxes are small price to pay.

[Anonymous]

3.8% NIIT was added to fund Obamacare.

[Anonymous]

This is how Democrats turn into Republicans.

[Anonymous]

Anonymous wrote:So should the additional Medicare tax be applied to low earners instead? I'm confused as to what is your actual gripe.

It’s not indexed to inflation so it’s still applies to the same income levels as it did in 2013. So more and more “rich” people qualify each year

[Anonymous]

This is a good problem to have. You are rich. Nobody is going to feel sorry for you. You could have read up on this or paid an accountant or financial planner and you chose to be surprised. Plus, you probably aren't paying FICA on all your income (since some of it is above the cap), so let that ease your pain.

[Anonymous]

Anonymous wrote:3.8% NIIT was added to fund Obamacare.

Based on what? The CRS refers to it as "unearned income Medicare contribution."

https://crsreports.congress.gov/product/pdf/IF/IF11820

[Anonymous]

If you are new to having them you haven’t truly experienced them yet. Try being taxed an extra 4.7% on the last $3M of income. It’s no longer $2k in extra tax, but $141K in extra taxes.

[Anonymous]

Anonymous wrote:This is how Democrats turn into Republicans.

OP here, I've been conservative since I started working so no change w/ me.

[Anonymous]

Be grateful instead of selfish.

[Anonymous]

Anonymous wrote:This is a good problem to have. You are rich. Nobody is going to feel sorry for you. You could have read up on this or paid an accountant or financial planner and you chose to be surprised. Plus, you probably aren't paying FICA on all your income (since some of it is above the cap), so let that ease your pain.

+1
And get some perspective.

[Anonymous]

Anonymous wrote:If you are new to having them you haven’t truly experienced them yet. Try being taxed an extra 4.7% on the last $3M of income. It’s no longer $2k in extra tax, but $141K in extra taxes.

Boo hoo. Seriously, this is why people hate the rich. Try not to be a clueless doink.

[Anonymous]

It’s a way of increasing taxes on the wealthy without changing the basic tax rates. Smoke and mirrors!

[Anonymous]

Anonymous wrote:Be grateful instead of selfish.

+1
Seriously. And get some perspective. Paying slightly more taxes because you make more money is not something to complain about.