Industry thrives on investment. Individuals who back companies with their earnings and help them grow, allow companies to expand, create jobs, create wealth and produce.
So does anyone think that an extra 3.8 percent surtax on investment income and capital gains in order to pay for the politicians’ health care takeover just might affect investment?
And how much will it cost to expand the bureaucracy in order to enforce and clarify the mess ObamaCare has foisted upon us?
The tax applies to a broad range of investment securities ranging from stocks and bonds to commodity securities and specialized derivatives.
The 159 pages of rules spell out when the tax applies to trusts and annuities, as well as to individual securities traders.
Released late on Friday, the new regulations include a 0.9 percent healthcare tax on wages for high-income individuals.
Gee! Only 159 pages of rules to clarify one portion of the several thousand-page new law?
Gird your loins, America. It’s just the beginning.