While we watch the grotesquely malformed law infect the country, a 'tax bomb' went off January 1, 2013.
A new 3.8% tax will be owed on all 'unearned' income and an additional .9% tax will be applied to 'earned' income during this tax year. The taxes apply to those grossing $125,000 per married filing separately, and $250,000 per couple filing jointly. No inflation adjustments will be allowed, so those affected will grow as incomes rise.
Code-named the 'medicare tax' this tax is over and above the current taxes on medicare, remember, its a stiff new tax hike just for playing the Obamacare game.
Obama publicly claimed the medical system killer would 'reduce' medical costs, and no one would lose their current coverage. Ha! Instead people are losing their employer coverage. Even Medicare was raided to fund the failure, and none of the promises made are coming to pass.
