| What would be the tax impact of the Obama Administrations Health Care Plan?
It appears that one of estimates to the cost of Obama's Health Care Proposal would be to impose additional taxes on individual taxpayers with adjusted gross incomes (AGI) greater than $350,000.
Here are some estimated projected surtax increases based on taxpayers AGI amounts.
1) a surtax of 1 percent on married couples with adjusted gross incomes (AGI) between $350,000 and $500,000 (singles between $280,000 and $400,000);
2) a surtax of 1.5 percent on couples with incomes between $500,000 and $1 million (singles earning between $400,000and $800,000);
3) a surtax of about 5.4 percent on couples earning more than $1 million (singles beyond $800,000).
Clearly, these are just estimates at the moment! In conclusion, based on these projections, it seems that the MiddleClass would escape any additional surtax or tax increase!
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