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View Diary: was there a 0.9% medicare tax hike in yesterday's bill (27 comments)

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  •  By this I mean, (1+ / 0-)
    Recommended by:
    tr GW

    If I make $100,000 from my job and $20,000 from my investments, do I pay the 3.8% on the $20,000??

    •  Yes (0+ / 0-)

      Though -

      I think it depends on exactly how you take the $20K.... I don't believe it's applied to say -- 401(k) or IRA contributions, but I might be wrong about that.

      I guess everyone's got their own blog now.

      by zonk on Mon Mar 22, 2010 at 11:29:10 AM PDT

      [ Parent ]

      •  Well, (1+ / 0-)
        Recommended by:
        tr GW

        That's a big damn mistake.  Lots of the moderate and Republican orformer Republican voters, like me, have savings for college.  We scrape to get it done so we don't have to take out loans.  And yet, now we're going to get taxed on that.  Trust me, this is a big problem.  The reason I'm so skeptical is that the right wingers haven't jumped on this earlier.  

      •  No. That is only on those making more than (2+ / 0-)
        Recommended by:
        tr GW, Losty


        If, as MMColo asks, $100k from job, $20k from investments, no 3.8% tax.

        But on a $200k single income, +$20,000 investment, then yes.

        For the first time, the Medicare payroll tax would be applied to investment income, beginning in 2013. A new 3.8 percent tax would be imposed on interest, dividends, capital gains and other investment income for individuals making more than $200,000 a year and couples making more than $250,000.

        John Boehner thinks of himself as Ceasar. How about we change his name to Orange Julius?

        by second gen on Mon Mar 22, 2010 at 11:43:06 AM PDT

        [ Parent ]

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