Q: How would the American Health Care Act (aka Trumpcare, aka Wealthcare) cut taxes for super rich people?

Q: How would the American Health Care Act (aka Trumpcare, aka Wealthcare) cut taxes for super rich people?

A: It would do this in multiple ways, including repealing two taxes introduced by the Affordable Care Act (Obamacare): Repealed Tax #1 is an additional 3.8% tax on investment income for people with income over $250k (married)/$200k (single) and Repealed Tax #2 is an additional 0.9% Medicare tax on income above $250k (married)/$200k (single). Over 10 years, Tax Cut #1 is worth $157 billion and Tax Cut #2 is worth $117 billion.

- originally published in the 6/25/2017 newsletter

Stephanie Lee