If anything, Romney's numbers, which are based on prior government estimates that go out only to 2019, might be low. “If you go out to 2022, it will raise [taxes] $800 billion to $1 trillion,” says Marc Goldwein, senior policy director at the Committee for a Responsible Federal Budget in Washington.
Included in the legislation are several major revenue raisers on individuals or companies to pay for the expansion of health-care coverage.
• First is a surcharge of 0.9 percent on the Medicare taxes paid on wages of $200,000 a year for those filing singly or $250,000 for those who are married and filing jointly.
• In addition, there is a 3.8 percent tax on unearned income of over $250,000, such as dividends and capital gains.
According to the congressional Joint Committee on Taxation, these taxes alone are estimated to raise $210 billion over 10 years or about 40 percent of the new revenue. Since Romney gets most of his income from passive investments, based on his income of $42 million over a two-year period, he would owe an additional $1.6 million.
• Another major tax increase is new taxes or fees on medical devices, drug manufacturers, and importers of medical devices. The Congressional Budget Office estimates this group would bring in an additional $107 billion over 10 years.