Home > economics, Political, Politics, Pre Pulse Ramblings > Healthcare law to sock middle class with a $3.9 billion tax increase in 2019

Healthcare law to sock middle class with a $3.9 billion tax increase in 2019


So much for “no taxes on the middle class.”  Hell, anybody paying attention knew it was a lie.

JCT: Healthcare law to sock middle class with a $3.9 billion tax increase in 2019 – The Hill’s On The Money.

Taxpayers earning less than $200,000 a year will pay roughly $3.9 billion more in taxes — in 2019 alone — due to healthcare reform, according to the Joint Committee on Taxation, Congress’s official scorekeeper.

The new law raises $15.2 billion over 10 years by limiting the medical expense deduction, a provision widely used by taxpayers who either have a serious illness or are older.

Taxpayers can currently deduct medical expenses in excess of 7.5 percent of their adjusted gross income. Starting in 2013, most taxpayers will only be able to deduct expenses greater than 10 percent of AGI. Older taxpayers are hit by this threshold increase in 2017.

Once the law is fully implemented in 2019, the JCT estimates the deduction limitation will affect 14.8 million taxpayers — 14.7 million of them will earn less than $200,000 a year. These taxpayers are single and joint filers, as well as heads of households.

  1. davisoftheapes1
    April 13, 2010 at 5:42 pm

    Uhhhhhhh, BULLSHIT! As a person making “Less than” 250K a year, my taxes are supposed to go doooooooooowwwwwwwwwnnnnnnnnnnn.

  1. April 14, 2010 at 5:45 am

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