IRS Issues 159 Pages of Obamacare Rules
It took the Internal Revenue Service (IRS) 159 pages to explain one new Obamacare tax on investments that will be used to pay for Obamacare.
Only individuals and families making more than $200,000 and $250,000, respectively, will be impacted by the tax, which “applies to a broad range of investment securities ranging from stocks and bonds to commodity securities and specialized derivatives.”
According to the IRS, if a person makes $180,000 in wages and earns $90,000 from investment income for a modified adjusted gross income of $270,000, the 3.8% tax would apply to the $70,000 and the taxpayer would pay $2,660 in surtaxes."
This is just one of many Obamacare taxes and rules that will require an army of new IRS officials to be hired to explain, enforce, and collect the various taxes.