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Here Come The Healthcare Taxes

Posted on March 23 2010 9:30 am
Liz Blaine is a financial analyst, author and freelance writer on finance, economics and politics. Follow her on Twitter and her blog Liz Blaine.
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By: Jeanne Sahadi

If the so-called reconciliation bill that the House passed on Sunday is eventually approved by the Senate, high-income households would also be subject to a new 3.8% Medicare tax on investment income starting in 2013.

What qualifies as investment income, also known as “unearned income”? Capital gains, dividends, interest, annuities, royalties and rents are some examples.

Raising the Medicare tax on wages would raise an estimated $87 billion over 10 years. But if it’s combined with a new Medicare tax on investment income, the revenue collected would jump to $210 billion, making it the biggest single revenue raiser to help pay for health reform.

Read the full article at CNN

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