AS A BRIEF REMINDER FOR THOSE WHO FORGOT OR FOR THE MANY THAT DIDN'T KNOW,
HERE IS WHAT HAPPENED, QUIETLY, ON JANUARY 1, 2016
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%
Dividend tax went from 15% to 39.6%
Estate tax went from 0% to 55%
A 3.5% Real Estate transaction tax was added.
These taxes were all passed in the Affordable Care Act, aka Obamacare.
HERE IS WHAT HAPPENED, QUIETLY, ON JANUARY 1, 2016
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%
Dividend tax went from 15% to 39.6%
Estate tax went from 0% to 55%
A 3.5% Real Estate transaction tax was added.
These taxes were all passed in the Affordable Care Act, aka Obamacare.