New Taxes for 2016… Are You Prepared? Thank a Democrat Because These Unbelievable Taxes Are 100% On Them!
WARNING!!! If you don’t want surprises April 15 best you visit your tax adviser to find out how much is your tax liability. Then if needed you can make adjustments to reduce them.
These taxes were baked into the cake with The Affordable Care Act.
As a brief reminder for those who forgot or for many that didn’t know, here is what happened, quietly, on January 1, 2016:
Medicare tax went from 1.45% to 2.35% (That’s more money coming out of your paycheck and going to the government… affects anyone with a job.)
Top Income tax bracket went from 35% to 39.6% (All tax brackets increased. With the high taxation for having a job leaving such a small amount of bring home money, we’re almost better off to live off the government.)
Top Income payroll tax went from 37.4% to 52.2% (Hiring people just cost businesses even more money. This will slow down businesses from hiring people.)
Capital Gains tax went from 15% to 28% (Selling your house and gaining a profit from what you purchased it for is the most common capital gain.)
Dividend tax went from 15% to 39.6% (People won’t be as inclined to invest their money into companies because of this which will greatly hurt businesses from being able to raise cash for growth, to name just one problem with this.)
Estate tax went from 0% to 55% (When your parents die, 55% of the value of their estate goes to the Government which will force the children to sell properties and assets to pay this tax. By the way, the rich will use “Trusts” to avoid estate taxes so it’s always been the middle class that have been hit the hardest with Estate Taxes.)
A 3.5% Real Estate transaction tax was added (this makes every house sold 3.5% more expensive, and this tax goes to the government.)
Remember these facts:
- These taxes were all passed solely with Democrat votes. Not a single Republican voted for these new taxes.
- These taxes were all passed in the Affordable Care Act, Obamacare.
If you think that it is important that everyone in the U.S. should know this.
Now you know why working American’s want to end ObamaCare!