Obama Tax Increases on January 1, 2016
As a brief reminder for those who forgot, or for many that didn’t know.
Here is what happened, quietly, on January 1, 2016
Medicare tax went from 1.45% to 2.35%
Income tax bracket went from 35% to 39.6%
Income payroll tax went from 37.4% to 52.2%
Gains tax went from 15% to 28%
Dividend tax went from 15% to 39.6%
Estate tax went from 0% to 55%
A 3.5% Real Estate transaction tax was added.
Remember these facts:
These taxes were all passed solely with Democrat votes.
Not a single Republican voted for these new taxes.
These taxes were all passed in the Affordable Care Act; aka, Obamacare.