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Yet another tax to pay for socialized medicine | Letter
I am suspicious of what it took to impose yet another tax that we don’t have control of. I suspect it was initiated by the administration in order to help pay for Obama Care.
Obama wants socialized medicine. In order to get it, he needs a new source of money. Under his guidance, the administration found a way of using the Social Security Administration to bypass changing the tax codes and instead used their own definition of the Modified Adjusted Gross Income to impose the additional tax.
The IRS definition of the Modified Adjusted Gross Income does not tax municipal bonds. The IRS definition does not allow taxing of municipal bonds so it wasn't good enough to justify the added cost to implement the new tax.
It’s the reason why the Social Security Administration came up with its own definition of Modified Adjusted Gross Income rather than using the IRS definition adjusted income?
As for the additional costs being yet another tax, what else are we to call it.
Robert L. Style, Kirkland