Tax Hikes Likely No Matter Who Wins White House – Yahoo! Finance

Regardless of who wins the White House this November, the new health-care law will raise taxes on high-income Americans next year-and that could have implications for stocks and other assets.

Starting Jan. 1, there will be an additional 3.8 percent tax on investment income-including capital gains, dividends and rental income. It will apply to married couples with adjusted gross income of $250,000 or more and for individuals above $200,000.

There will also be a 0.9 percent tax next year on all salaries and wages earned above those same threshold amounts.

The new taxes, part of the 2010 health care law now widely known as Obamacare, are expected to help fund Medicare.

via Tax Hikes Likely No Matter Who Wins White House – Yahoo! Finance.

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