Asked by Maddie Lofton on Apr 27, 2024
Verified
In order to help pay for the costs of extending health insurance to previously uninsured people, the PPACA imposes new taxes, including the following, except
A) an increase in the Medicare payroll tax for individuals earning more than $200,000 ($250,000 for married couples) per year.
B) an increase in the capital gains tax for individuals earning more than $200,000 ($250,000 for married couples) per year.
C) a tax levied on indoor tanning.
D) a tax on junk foods and soda.
Medicare Payroll Tax
A tax collected from both employees and employers to fund the Medicare program, which provides health insurance to individuals aged 65 and older and to some younger people with disabilities.
Capital Gains Tax
A tax on the profit realized from the sale of a non-inventory asset that was greater than the purchase price, typically stocks, bonds, precious metals, and property.
Junk Foods
Foods with low nutritional value, typically high in fats, sugars, salt, and calories.
- Identify and critique the funding mechanisms for the PPACA, including taxes and employer mandates.
Verified Answer
Learning Objectives
- Identify and critique the funding mechanisms for the PPACA, including taxes and employer mandates.
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