Posted on 07/08/2009 5:04:56 PM PDT by NormsRevenge
WASHINGTON – A plan to raise taxes on the wealthy is emerging as the leading option among House Democrats looking to finance health care legislation that President Barack Obama wants.
Numerous officials say that under the proposal, an income tax surcharge would be imposed on individuals earning more than $200,000, with a higher threshold for couples.
The same officials say earlier options under consideration have been abandoned. Among them was a proposal to raise the payroll tax that finances Medicare. The officials spoke anonymously to discuss private discussions.
(Excerpt) Read more at news.yahoo.com ...
.. under the proposal, an income tax surcharge would be imposed on individuals earning more than $200,000, with a higher threshold for couples.
The tax on health benefits from your employer is part of the package.
And to finance this surtax, those making over $200,000 lay off a couple of employees.
Every dark cloud has a silver lining. The good news is that I’m no longer “wealthy” as a result of Obama’s policies.
How is this going to be Constitutional, whereas “equal treatment under the law” is abandoned, to penalize success? Oh...that’s right....when it’s a tax, equal treatment is meaningless, and the Escalade/Welfare families will just be funded from others’ incomes; as usual.
Well that should take the unemployment level even higher since a good portion of those people making that are small buisness owners. What will this take the top income level to 42% after the Bush tax cuts expire?
That is what my Dh keeps saying. He keeps saying that the bright side of this is that if the Dems do this and he loses his empoyer insurance coverage he’ll just retire early since insurance won’t be avaliable anymore.Starve the beast for a few years! We’ll start a small business or go back to work after the O years.
Economic class is not a protected class like sex or race. Otherwise it would make income tax brackets unconstitutional. That said, the income tax should progressively be cut and abolished and replaced with a National Sales Tax
THAT is how we wound up with the Kenyan Messiah.
With typical media stupidity, the AP authors confuse wealth, a measure of how much you have, with income, a measure of how much you make. A 35 year-old man who finally finishes medical school and has tons of college loans is not wealthy just because he is now able to earn $200,000 for the first time. On the other extreme, a widow with $4,000,000 in the bank which is only earning 4% is still “wealthy,” despite only making $160,000 this year.
200,000 is wealthy?
It’s upper working class here in Silicon Valley.
ping.
Can president Zero or someone show me which country taxes the rich at a higher rate and is prosperous?
This is not rocket science. Even communist China is now creating many Billionaires. Russia and former Soviet
satellites have flat tax.
How stupid are these socialists in the dimocrat party?
PLEASE go for it, Dems. Hell, take it down to $150,000. It will be gratifying to watch you go down in flames in 2010.
To them anyone making more than they do is rich
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.