Re: 13 new tax hikes in health bill

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Sedley

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Re: 13 new tax hikes in health bill

in response to

13 new tax hikes in health bill

BUSHleague

posted on Oct 30, 2009 02:17PM

A lie right from Nelson' release

Surtax on Individuals and Small Businesses (Page 336): Imposes an income surtax of 5.4 percent on MAGI over $500,000 ($1 million married filing jointly). MAGI adds back in the itemized deduction for margin loan interest. This would raise the top marginal tax rate in 2011 from 39.6 percent under current law to 45 percent—a new effective top rate.

This applies to individuals making over $500k a year ($1 million jointly) Has nothing to do with small businesses