Recent Examples of surtax from the Web
Among the Obamacare tax increases that would be repealed are a 3.8 percent investment income tax and a 0.9 percent Medicare surtax.
What drives the story is repealing high-income surtaxes and reducing Medicaid.
The revised Senate GOP health-care measure released Thursday keeps Obamacare’s 3.8 percent tax on net investment income and a 0.9 percent Medicare surtax, both affecting families who earn at least $250,000 a year.
High earners are also subject to an additional 3.8% net investment income surtax, regardless of whether their dividends are qualified or not.
The top rate for long-term capital gains is currently 20 percent, plus a 3.8 percent net investment income surtax for individuals earning more than $200,000 or couples above $250,000.
Separating the personal rate from the small business rate all but guarantees that the top rate will never return to the Reagan low of 28% that has since climbed to about 44% with the ObamaCare surtax on investment income.
Besides stripping 22 million people of insurance nationwide, the bill would eliminate the net investment tax and the Medicare surtax, both of which are being paid by the wealthiest Americans.
The new repeal bill would keep levies on top earners -- a 3.8 percent tax on net investment income and a 0.9 percent Medicare surtax for individuals earning more than $200,000 or couples above $250,000.
These example sentences are selected automatically from various online news sources to reflect current usage of the word 'surtax.' Views expressed in the examples do not represent the opinion of Merriam-Webster or its editors. Send us feedback.
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