Insurers pan president's proposed tax on investment income

The American Council of Life Insurers today blasted a newly floated tax proposal on unearned income — part of a series of suggested changes to the Patient Protection and Affordable Care Act of 2009.

President Barack Obama on Thursday will present a series of changes to his health insurance reform package, including a 2.9% tax on income from interest, dividends, royalties, rents — and annuities.

Single taxpayers with more than $200,000 in income and married couples making more than $250,000 and who file jointly would be affected...

Investment News: Insurers pan president's proposed tax on investment income