The first presidential debate takes place in Denver on Wednesday with a focus on domestic issues, including President Obama’s unpopular health-care law. Obamacare imposes numerous tax increases on Americans, totaling more than $500 billion over a 10-year period.
According to Heritage’s analysis, these higher tax rates on income and investment threaten to slow economic growth. With so much uncertainty already stemming from Taxmageddon, this only adds to the concerns of American families and businesses.
One of the most alarming taxes — a new payroll tax on investment income — goes into effect in January 2013. It was cited by Americans for Tax Reform as one of the “top five worst Obamacare taxes coming in 2013.”
More charts like this one are available in Heritage’s Federal Budget in Pictures.