Now it’s clear, the Affordable Care Act was the ultimate “progressive” tax increase. Back in the ’80’s taxpayers rose up and forced Congress to index tax brackets so that inflation did not artificially force middle class earners to pay taxes at the same rate as the wealthy. The Obamacare taxes are not indexed, meaning over time, the middle class will pay greater taxes, although their real, after inflation earnings, have not risen.
“Taxes on High Earners: AMT redux?”CNBC | by Kelley Holland
Remember those doomsday predictions about the alternative minimum tax hitting millions of middle-class households?They have not come true, thanks to a patch in the tax law that indexes alternative minimum tax rates to inflation. But there are two newer taxes created by the Affordable Care Act that do not have that feature, and when taxes are tallied up in future years, that lack of indexing may show up on your tax return. Read More
