It's Starting - IRS Issues 159 News Pages of Rules

The IRS released, late last Friday, 159 pages of new rules for the increase in taxes under ObamaCare. Reuters has the story:
The proposed rules are effective starting January 1. Before making the rules final, the IRS will take public comments and hold hearings in April.

Together, the two taxes are estimated to raise $317.7 billion over 10 years, according to a Joint Committee on Taxation analysis released in June.

To illustrate when the tax applies, the IRS offered an example of a taxpayer filing as a single individual who makes $180,000 in wage income plus $90,000 from investment income. The individual’s modified adjusted gross income is $270,000.

The 3.8 percent tax applies to the $70,000, and the individual would pay $2,660 in surtaxes, the IRS said.

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23 comments on “It's Starting - IRS Issues 159 News Pages of Rules
  1. American voter says:

    Rule #1. Take it all plus 25%.

  2. agbjr says:

    Repeal the odious Sixteenth Amendment and all this goes away.

  3. agbjr says:

    “A just security to property is not afforded by that government, under which unequal taxes oppress one species of property and reward another species.”

    James Madison, Essay on Property, March 29, 1792

  4. Platoon Sergeant Che says:

    Every man, woman and child will pay higher taxes.
    Higher fuel and energy costs
    Higher food costs
    Higher costs for everything
    This is known as the “Hidden tax”
    Add to that the hidden tax in Oba’maCare
    The dishonest government focus on taxing millionaires is appeasement of the naive
    Face it, beginning soon, the dollar will be worth much less as MORE inflation kicks in–a tax!
    America and the people are bankrupt
    For lack of vision the people perish
    America will now suffer under the socialist redistribution plan of a communist usurper

    • truthseeker says:

      So true, yes the people are morally bankrupt and sold their souls for free stuff. It’s hard to feel any sense of hope. We just have to look out for our families and protect ourselves as best we can.

      • Victor Magilke says:

        The only solution to win back the white house seems to be the Republicans will have to give the deadbeats more freebies than the Democrats. What a nightmare our politicians have created. Our founding fathers would be aghast.

  5. SoCal Viking says:

    The best way to suppress an activity is to tax it. This will not enhance the govt coffers, it will just punish the makers to appease the takers. Dem control is more important to them than the strength of this great nation. Time to mobilize the population. Most of us have friends and neighbors and family that need educating on what is really happening to OUR country. Fire the bastards and hire true patriots before we fall like most of Europe.

  6. danclamage says:

    Trouble is, Obamacare will cost us approximately $1T a year, so these new taxes barely scratch the surface of new spending Obamacare entails.

  7. racefish says:

    Well, thank the Lord Obama was reelected. I was starting to think there was some common sense seeping into the electorate but I was wrong.

    Yes, that’s sarcasm.

  8. Dreamer says:

    Canada is starting to look better and better as the scum in Washington screw the working men and women of this country.

  9. louise says:

    I agree with everything the sergeant said. This man is a communist and is here to destroy America. Just pray that he fails. Also pray that those who voted for this man wake up and realize just what he is. When the country goes broke , they will not be getting all the free lunches they are now. Maybe then they will see the light , but it will be too late.

    • tobeornot says:

      maybe the white people won’t get his free lunches but you can bet the yard apes will be living high on the hog.

  10. gk says:

    . . . and how many pages of rules does that make, total?

  11. Joanne says:

    Did the entitlement people vote for him because they don’t pay any taxes, Zero? Who would want anything to do with the IRS, we already pay enough.

  12. Anonymous says:

    The IRS can take their rules and shove them up their @$$!!

  13. Dog says:

    Should make good toilet paper

  14. ecoplastican says:

    I thought obamacare wasn’t a tax.