Tuesday, January 12, 2010

Tax talk

Amidst more push back on excise tax on high cost insurance (seems the trigger level may rise, and/or be based on actuarial value instead of premiums and/or be adjusted for age) WSJ describes proposal to apply Medicare payroll tax to investment income. Now it applies to wages only. On first blush, this is just a middle ground between House income tax hike and Senate tax on insurance which is not surprising. More broad based than income tax hike in House. So, not as bad as income tax hike, not as good as capping tax exclusion in de facto manner via health insurance tax. More on this later.

Update: nice summary of big picture re taxes. No easy choices left.

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