It is called "The Affordable Health Care Act" but affordable it is not:
"As for small business, the overall tax increase this year is substantial. The new listed top rate of 39.6% doesn't include the
phaseout of deductions that will take the actual rate to 41% or so for many
taxpayers. Add the ObamaCare surtaxes on investment income (3.8%) and Medicare
(0.9%), as well as the current Medicare tax of 1.45% (employee share), and the
real top marginal tax rate on a dollar of investment income from a bank savings
or money-market account will be about 46%.
Throw in state taxes, and the
marginal rates in many places will be in the mid-50%-or-higher-range." (WSJ)
The bottom line is that there is nothing affordable about it. On the contrary, it is very expensive and unsustainable.
Click here for our conversation with Dr Ileana Johnson-Paugh about ObamaCare, a.k.a. The Affordable Health Care Act:
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