First Tax Day To Include Obamacare Costs
It's D-Day for President Obama's health law as millions of American tax filers face the deadline for reporting their status under Obama's new entitlement program and their vulnerability to new taxes used to fund it.
Americans have been paying the biggest new taxes associated with the law since the beginning of the year: a .9 percent income tax and a 3.8 percent tax on investment income, both for top earners.
While the estimated cost of those taxes is $318 billon over the next decade, like this year's other big tax hike, the 48 percent jump in the payroll tax rate for all workers, they occur automatically and don't create sticker shock except for those who count every penny in every paycheck.
Americans are also already living with two other costly tax increases in the law.