There are plenty of tax changes in the new health care reform bill, but the group of taxpayers that will be hit hardest are families making $250,000 or more per year. As this CNN Money.com article explains, they will get hit with pretty significant Medicare tax increases.
Currently, the Medicare payroll tax is 2.9% on all wages -- with the worker and his employer each paying 1.45%.
Under the new law, starting in 2013, high-income individuals will pay another 0.9 percentage points -- so their share will total 2.35% of their wages.
A single person making $250,000 would pay an additional $450 a year into Medicare relative to what he pays today, according to calculations by Deloitte.
If he made $1 million, he would pay an additional $7,200.
