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

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  •  No (0+ / 0-)

    The 3.8% is on any "unearned income" -- right now, there is no payroll tax (essentially, the Social Security and Medicare taxes everyone has on their paychecks) applied to non-payroll income.  

    What this basically does is apply the payroll tax everyone pays on their wages to income derived from investments.

    I guess everyone's got their own blog now.

    by zonk on Mon Mar 22, 2010 at 11:28:14 AM PDT

    [ Parent ]

    •  I know (1+ / 0-)
      Recommended by:
      tr GW

      But what about my example above.  I have $100,000 in earned income and $20,000 in dividends.  Do I pay the 3.8% on the $20,000 even though my total income for the year is only $120,000??  This will affect a lot of people who have savings for stuff like college.

    •  No. Only on unearned income to individuals (1+ / 0-)
      Recommended by:
      tr GW

      making more than $200k, couples over $250k

      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 11:43:59 AM PDT

      [ Parent ]

      •  See this article (1+ / 0-)
        Recommended by:
        second gen

        which says the same thing.here

        •  So, the Republicans Lie Again (2+ / 0-)
          Recommended by:
          Boris Godunov, second gen

          This morning on Mike Rosen here in Denver he stated that the 3.8% begins on the first dollar of un-earned income.  Not true.  The fact that they are separating out any of this is just another attempt to confuse.  Until a taxpaying husband and wife get to $250,000 in income, whether earned or unearned, they pay none of these taxes.  Typical, obfuscate and confuse.  If you make $249,000 in unearned income and no earned income, you get no tax increase.  Good.

          •  Yep. The only reason I had this answer at the (0+ / 0-)

            ready was because I was researching it, due to a wingnut claiming the same thing.

            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 01:54:28 PM PDT

            [ Parent ]

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