ObamaCare Survives The Supreme Court!
The Supreme Court just issued their ruling stating that ObamaCare is partly constitutional and partly non-constitutional, but the constitutional right of Congress to levy taxes trumps the Commerce Clause.
This was an extremely tight 5-4 ruling with Chief Justice Roberts siding with the 4 more liberal justices.
For now, the most immediate effect facing farmers is the imposition of the Medicare Surtax on earned income and unearned income starting January 1, 2013.
Even if Romney gets elected, any repeal of this will happen after January 1 and who knows if it would affect this part of the bill or not.
Paul Neiffer
Paul Neiffer is a certified public accountant and business advisor specializing in income taxation, accounting services, and succession planning for farmers and agribusiness processors. Paul is a principal with CliftonLarsonAllen in Walla Walla, Washington, as well as a regular speaker at national conferences and contributor at agweb.com. Raised on a farm in central Washington, he has been immersed in the ag industry his entire life, including the last 30 years professionally. Paul and his wife purchase an 180 acre ranch in 2016 and enjoy keeping it full of animals.
[…] Neiffer: ObamaCare Survives The Supreme Court! “For now, the most immediate effect facing farmers is the imposition of the Medicare […]