Recently there is a lot of talk about derailing Obamacare by either repealing it or defunding it. For the most part wholesale repeal is not likely especially as many of the popular parts of Obamacare are already operating. Therefore any repeal is more than likely to be partial repeal of various targeted provisions of Obamacare.
What we do not hear talk about is repeal of the most well known Obamacare taxes, first and foremost of which is the 3.8% tax on investment income. Yes, mysteriously silent is any discussion of repealing the 3.8% investment tax.
Assuming any of the proposals for partial repealing or defunding actually make it through the legislative process it appears the American taxpayer ends up losing some of the benefits of Obamacare while still being saddled with the tax detriments of Obamacare.
As we said: You Have To Repeal It To Know What’s Still In It
Horowitz Law Offices represents individuals and businesses for IRS Appeals, Tax Court, Audits and Collection. We also represent clients before the Illinois Department of Revenue (IDOR) for sales tax, use tax and motor fuel tax audits and collections as well as advocating for the various exemptions such as airplane, rolling stock, motor vehicle and heavy machinery.
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