Investors with a steady stream of income from stocks and other assets could be excused for feeling a little queasy as the health care reform measure nears approval in Washington.

The latest version of the bill pays for the health care expansion largely on the backs of investors who face a smorgasbord of new taxes on interest, dividends, capital gains and other investment income.

That prospect drew jitters from market pros who see Wall Street already under enough fire from Sen. Christopher Dodd's financial reform measure making its way through Congress.

Health care, expected to be voted on over the weekend, is just adding to an increasingly investor-hostile environment from the government.

"Investors want as little as possible out of Washington. To the extent that you have health care and the Dodd bill out there, there's nothing positive from an investor's standpoint," said Uri Landesman, head of global growth strategies at ING Investment Management in New York. "I can assure that investors want all these bills to fail."

Though the new taxes don't take effect immediately, their potential impact quickly drew concern and helped send the major averages lower in Friday trading.

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