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ObamaCareTax: One of the 1st TAX INCREASES will directly Affect The Average Worker
July 7, 2012 in Campaign 2008, Campaign 2010, Campaign 2012, Capitalism, Economy, Family values, Health care reform, Politics, socialism, Uncategorized | Tags: Barack Obama, Medicare, middle class tax increases, ObamaCare, ObamaCareTax | 3 comments
The first affect of ObamaCare on the average worker will begin January 1st with an increase in their Medicare payroll tax.
Presently, the tax is 2.9%, split equally between the employee and the employer (1.45% each).
Beginning January 1st, there will be a 0.9% increase in the tax to 3.8%….. the entire 0.9% being paid by the employee (Now that’s a surprise).
So on a $500.00 gross check, the employee’s Medicare tax will go from $7.25 to 11.75 per week. That is an additional $234 per year.
And that is just ONE of the tax increases.
