Taxpayers with an adjustable gross income (AGI) over $200,000 who file individually or $250,000 for married couples filing jointly could be subject to this tax. As Pelosi said, we had to pass the bill before we could find out what was in it.
Section 1402 of the Health Care and Reconciliation Act of 2010, which amends the Patient Protections and Affordable Care Act, outlines the new unearned income Medicare tax, and goes into effect January 1, 2013.
The provision imposes a 3.8 percent tax (identical to the combined employer/employee tax rates on earned income) on income from interest, dividends, annuities, royalties and rents which are not derived in the ordinary course of trade or business.
Add this to the other new taxes contained in the so called “Health Care Bill” and the expiration of the Bush tax rates and you have an economy going over the cliff in 2013.
I cannot say it often enough. Protect yourself with gold and silver, at least 6 months of dried foods and water filters, and a secure home. When you realize you need all this it will be too late. If you have not started a plan, do it today!