Welcome to DU! The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards. Join the community: Create a free account Support DU (and get rid of ads!): Become a Star Member Latest Breaking News General Discussion The DU Lounge All Forums Issue Forums Culture Forums Alliance Forums Region Forums Support Forums Help & Search

Recoverin_Republican

(218 posts)
Wed Jul 18, 2012, 07:28 PM Jul 2012

Few pay more taxes under health care law - USA Today

http://www.usatoday.com/news/washington/story/2012-07-16/health-care-tax/56256676/1

Though the law is projected to raise more than $800 billion in taxes, fees and penalties over a decade, 40% comes from about 3.5 million households with adjusted gross incomes above $200,000. Employers, insurers and health care providers are slated to fork over much of the rest.

That leaves only a few taxes that will fall partially on middle-income taxpayers:

•About 7 million people could pay more because the law makes it more difficult to deduct medical expenses. People with lower incomes are less likely to itemize deductions.

•About 4 million workers could pay more because of a new $2,500 limit on flexible spending accounts, which can be used to shield medical expenses from taxation.

•The tax that rendered the law constitutional, to be assessed on those who fail to buy mandated health insurance, could hit about 4 million people across all income brackets.
<more>
Latest Discussions»Issue Forums»Editorials & Other Articles»Few pay more taxes under ...