From hedge fund row in Greenwich to the massive trading floors of Stamford to the country club set of Southport, wealth centers like Connecticut's Gold Coast could now find themselves at the forefront of the national debate over the Affordable Care Act.
With the Bush tax cuts of 2001 and 2003 set to expire at the end of the year, conservatives say that the increases amount to an ill-timed spike for the few creators of wealth in the current economic climate.
[...] that the constitutionality of the law has been upheld by the Supreme Court, Democrats say that the GOP has no choice but to resort to distortions and scare tactics about tax hikes and death panels, when in fact the initiative is better than deficit neutral, expands coverage and protects consumers from the abuses of insurance companies.
Individuals earning over $200,000 and married couples with a household income in excess of $250,000 will likely pay an additional 3.8 percent above the base tax rate on capital gains and dividends starting in 2013 under the law.
First of all, we have no idea what's going to happen with the Bush tax cuts at the end of this year.
The Medicare tax increases for top earners are separate from fines that the federal government plans to impose on Americans who fail to carry health insurance starting in 2014, which Dubay said is part of $500 billion in levies that will result from the legislation over the next decade.
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