tax on 'unearned income'? This is supposed to hit the rich trust babies, but I'm wondering what it will do to my mother on retirement and living off what she put away during her working life.
Thoughts?
Does anyone have more information on this alternate funding idea for Obamacare?
http://inthesetimes.com/working/entry/5394/house_in_revolt_over_excise_tax_white_house_asks_unions_to_celebrate_it/
I would assume it would hit all that are hit by the alternate minimum tax...
" With the White House seeming to harden their position, Courtney says, "There's definitely potential for a big impasse." He foresees the upcoming meeting between President Obama and unions on Monday as an effort by the President to convince unions to support this historical health care reform. At the same time, knowledgeable sources say, House leaders and the White House may be open to compromise, and the House leadership, at least, is looking for alternative funding sources that could be acceptable to the Senate, such as raising Medicare taxes on unearned income; the current system essentially exempts wealthy heirs living off of investment income from paying anything towards Medicare revenues.
It's not clear which side (unions and House vs. Senate and White House) will blink in this game of excise tax "chicken," as one labor source dubs it, but the meeting Monday between the unions and President is at least a sign that the White House is concerned about the political toll ..."
Thoughts?
Does anyone have more information on this alternate funding idea for Obamacare?
http://inthesetimes.com/working/entry/5394/house_in_revolt_over_excise_tax_white_house_asks_unions_to_celebrate_it/
I would assume it would hit all that are hit by the alternate minimum tax...
" With the White House seeming to harden their position, Courtney says, "There's definitely potential for a big impasse." He foresees the upcoming meeting between President Obama and unions on Monday as an effort by the President to convince unions to support this historical health care reform. At the same time, knowledgeable sources say, House leaders and the White House may be open to compromise, and the House leadership, at least, is looking for alternative funding sources that could be acceptable to the Senate, such as raising Medicare taxes on unearned income; the current system essentially exempts wealthy heirs living off of investment income from paying anything towards Medicare revenues.
It's not clear which side (unions and House vs. Senate and White House) will blink in this game of excise tax "chicken," as one labor source dubs it, but the meeting Monday between the unions and President is at least a sign that the White House is concerned about the political toll ..."