The country has been transfixed by the fiscal cliff's tax and spending drama. But a host of other Obamacare taxes are quietly waiting in the wings, ready to kick in Jan. 1.
The bulk of the new levies will be borne by high-income earners, but some middle-class taxpayers and the medical device industry will begin shelling out for health reform, too. Continue Reading
The tax that's drawn the most heat in Congress is the one on medical devices — a 2.3 percent levy on most medical products that aren't sold over the counter. But the bigger story is in the Medicare tax hikes that high-income earners will see both on wages and investment income. That would be a heavy tax hit, but only for the wealthiest couples — about $2,500 for some couples making as much as $400,000 a year.
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