In regards to the Catastrophic Medical Care Act of 1988 which became effective Jan. 1, I believe the majority of senior citizens who are on Medicare have very little knowledge of what the ”act” will cost them when they file their income tax in 1990.
The initial surtax, payable in 1990 on 1989 returns, is $22.50 for each $150 of tax liability. An $800 ceiling on an individual or $1,600 for a couple in the first year of the surtax can increase to a possible maximum of $1,025 for an individual or $2,100 for a couple by 1993. This is in addition to a general increase of $4 in the present monthly premium for all beneficiaries and increasing by $10.20 in 1993.
Our representatives in Congress must be made aware of the rising tide of dissatisfaction with this new law which creates a new class of senior citizen taxpayers and utilizes a questionable practice in tax legislation.
