Are you ready for the new taxes coming from the Supreme
Court ruling on Obamacare? If not, you
need to get ready!
The Affordable Care Act, also known as Obamacare, has been
one of the heated aspects of President Obama’s time in Office. The Supreme Court deemed it constitutional on
Thursday and it will impact individual taxpayers.
Starting in 2013 an extra 0.9% Medicare tax will be charged
on salary above $200,000 for an unmarried individual, $250,00 for a married
joint-filing couple, and those who file separate status will pay the extra tax
Are feeling taxed to the max?
President Obama promised time and time again that his health
care proposal would not cause new taxes and the ruling by the Supreme Court
that this is, in fact, a tax causes interesting views of the political
environment heading into a November election.
“In fact, Obama repeatedly argued that the new law wasn't a
tax. Yet the Justice Department's advocate before the Supreme Court, Solicitor
General Donald B. Verrilli Jr., argued that not only was the individual mandate
a valid exercise of Congress' power under the commerce clause, it was a
constitutional exercise of Congress' tax power. As Verrilli put it in his
initial brief: "The practical operation of the minimum coverage provision
[i.e., the individual mandate] is a tax law. It is fully integrated into the
tax system, will raise substantial revenue, and triggers only tax consequences
Do you feel that you have been lied to? How will you vote
Feel free to stop any Liberty Tax office to help prepare
yourself for the new health care laws.