Health care law's tax hikes are coming: Who pays? - 13 WTHR Indianapolis

Health care law's tax hikes are coming: Who pays?

Posted: Updated:
WASHINGTON, DC -

Who will get thumped by higher taxes in President Barack Obama's health care law? The wealthiest 2 percent of Americans will take the biggest hit, starting next year. And the pain will be shared by some who aren't so well off - swept up in smaller tax changes to help finance coverage for millions in need.

For the vast majority of people, however, the health care law won't mean sending more money to the IRS.

And roughly 20 million people eventually will benefit from tax credits that start in 2014 to help pay for insurance.

In this election year, Obama is campaigning on the benefits for the uninsured, women and young adults. His rival, Mitt Romney, vows to repeal "Obamacare," saying reforms are needed but not at this cost.

Decision 2012 Election Guide

(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

Powered by WorldNow
Links to the FCC website to view WTHR and/or WALV’s on-line public inspection files:
WTHR: https://stations.fcc.gov/station-profile/WTHR   ||   WALV: https://stations.fcc.gov/station-profile/WALV
Individuals with disabilities may contact Jill Pursell at publicfile@wthr.com, or 317.655.5602, for assistance with access to the public inspection files.
Powered by WorldNowAll content © Copyright 2000 - 2013 WorldNow and WTHR. For more information on this site, please read our Privacy Policy and Terms of Service.