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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.
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