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Reply to "Who is ready to get Raped by the new medicare tax"
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[quote=Anonymous][quote=Anonymous]1) That tax began in 2013, not this year. So if this affects you and you didn't notice it last year, you obviously didn't miss the money. 2) The additional tax is marginal. It doesn't apply until the first dollar of income above those mentioned thresholds. It's not like they levy the tax from the first dollar earned. [/quote] For #1, it started in tax year 2013 so some people won't notice it until when they do their taxes in the next few months. I agree on #2 -- the articles never make clear it's progressive. We make $450-500k, a lot in dividends (I own a business), but the bulk of it will not be subject to that tax because it phases in.[/quote]
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