New taxes derived from the roll-out of Obamacare will impact Americans everywhere beginning January 1st, 2013. The increase, estimated to be in the range of $268 billion, impact consumers, taxpayers, manufacturers, investors, and small-business owners:
- A 2.3% excise tax on gross sales of medical device manufacturers.
- A cap of $2,500 on Flexible Spending Accounts – many Americans use FSAs to pre-tax costs related to basic medical needs.
- A new, 3.8% surtax on investment income, in addition to tax increases on capital gains and dividends, for those with incomes of $250,00 or more (small business owners); for single filers, it’s $200,000.
- A tax increase on anyone who has deductible medical expenses, by increasing the threshold of adjusted gross income from 7.5% to 10% of AGI for claiming those expenses as a deduction.
- Wages or profits exceeding $200,000 single / $250,000 married couples will face a higher 3.8% Medicare payroll tax, up from 2.9%.
For more detailed information, see Americans For Tax Reform.