News
CNBC | Restored Payroll Tax Pinches Those Who Earn the Least
Jack Andrews and his wife no longer enjoy what they call date night, their once-a-month outing to the movies and a steak dinner at Logan's Roadhouse in Augusta, Ga. In Harlem, Eddie Phillips's life insurance payment will have to wait a few more weeks. And Jessica Price is buying cheaper food near her home in Orlando, Fla., even though she worries it may not be as healthy.
Econ Comments & Analysis
AEI | Tax hikes you may have forgotten about
The Affordable Care Act (ACA) has a lot to do with tax policy, and the new taxes it created are starting to add up. A 2.3 percent medical device excise tax will raise $1.7 billion in revenues this year, while the new unearned income Medicare contribution tax on high-income savers will raise $20.5 billion. A tax on pharmaceuticals that took effect in 2011 will also raise $2.9 billion this year.
