Republicans give rich investors a tax break in Obamacare revamp
Gazette, The (CO)
House Republicans have a plan to remake the U.S. health-care system - with a perk for wealthy investors.
Included in their proposal to repeal and replace the Affordable Care Act is a tax break for the wealthy. The Obamacare replacement bill, unveiled on Monday night and endorsed by President Donald Trump with a tweet on Tuesday morning, eliminates the net investment income tax, a 3.8 percent surcharge on almost all earnings from investments. The net investment income tax is paid only by single people with incomes above $200,000 and married couples earning more than $250,000.
The average hit from the NIIT doesn't get beyond three figures unless you're in the top 1 percent of earners. The tax casts a wide net, though. Investors
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