Wealthy Would Get Billions in Tax Cuts Under Obamacare Repeal Plan -
By JESSE DRUCKERMARCH 10, 2017
Two of the biggest tax cuts in Republican proposals to repeal the Affordable Care Act would deliver roughly $157 billion
over the coming decade to those with incomes of $1 million or more, according to a congressional analysis.
The provisions would repeal two tax increases on high earners enacted in 2010 to help pay for the Affordable Care Act: an increase in capital gains taxes
and other investment-related income, and a surcharge on Medicare taxes.
With the 3.8 percent tax imposed by the Affordable Care Act, the top capital gains rate stands at 23.8 percent for the wealthiest Americans.
In total, the two provisions would cut taxes by about $274 billion during the coming decade, virtually
all of it for people making at least $200,000, according to a separate assessment by the committee.
The other is a 0.9 percent surcharge on the Medicare taxes imposed on high-income earners — individuals making more than $200,000 a year
and married couples filing joint returns who earn more than $250,000 a year.
