U.S. House May Include Surtax on Wealthy (4% above $200K)in Health-Care Package

Bloomberg | July 7, 2009 | Ryan J. Donmoyer

[reaganaut1]

No excerpt allowed from Bloomberg.com, story here .

[CodeToad]

$8,000 bucks minimum???

OK, that $8,000 is half a minimum wage person’s salary, or 33% of a low income, or 25% a modest income, or 15% of a good income.

Any idiot falling for this “soak the rich” scheme has no idea how much they will pay as they lose 100% of their income because the federal government took it.

[stuartcr]

That’ll fix’em

Well, I wish you well in your retirement. I will eventually, but I doubt my lifestyle will change much, even with a reduced income.

[animal172]

The people in charge have been doing this to us for more years than I can remember and each election cycle we put them back in office, We are in charge. We just refuse to exercise our power.

[july4thfreedomfoundation]

This is turning into a hellhole of a country.

Back when Reagan was president, and he eliminated many tax deductions in return for lowering the top tax rate to 28%, I thought to myself, “Just wait.....over time, the top rate is going to creep back up to 50% WITHOUT those deductions.”

And here we are.....

[olivia3boys]

Is this an individual income or a household income? Anyone know?

That makes a big difference. There are lots of professional households where both husband and wife make $100K each.

[quesney]

“Dunno. Bro’s in ElPaso and can’t give his house away. He’s desperate to get out of there.”

Why?

[Plutarch]

Geez, States like California get outsized amount of money from The Rich, and now the Feds want in it too.

This has been tried before:

This is a British cartoon from 1776, commenting on the Ministry's short-sightedness regarding the colonies. Same now with "the rich". Not so many Golden Eggs when marginal tax rates get towards 60%.

Numerous ministers surround a goose are about to cut of the head. You can see one man holding a basket of golden eggs. At the bottom a dog pees on a map of North America. Published in 1776. The text reads:

In Gotham once the Story goes
A lot of Wise-acres arose
Skill’d in the great Politic Wheel
Could pound a Magpie, drown an Eel,
With many Things of worthy Note
At present much too long to quote,
Their district was both far and wide
Which not a little swelld their Pride
But above all that they possess’d
Was a fine Goose, by all confess’d,
A Rara Avis to behold
Who laid each Day an Egg of Gold
This made them grow immensely rich
Gave them an avaritious Itch,
The Case belongs to many more
They not contented with their Store
Would Methods vague and strange pursue
To make the Harmless Bird lay Two,
This Glorious purpose to obtain
About her Neck they put a Chain,
And more their Folly to compleat
They Stampt upon her Wings and Feet,
But this had no Effect at all,
Yet made her struggle, flutter, squall,
And do what every Goose would do
That had her Liberty in view,
When one of more distinguis’d Note
Cry’d D__n her, let us Cut her Throat,
They did, but not an Egg was found
But Blood come pouring from ye Wound.

[fightinbluhen51]

Before you figure in state, local, and ancillary taxes!

[model B]

A tax on income is not a tax on wealth....

_______________________________________________

a very astute and well written post!

[Dubya-M-DeesWent2SyriaStupid!]

So it is official everyone but one type of class is screwed. The upper/middle class and the wealthy. The only ones movin on up to the east side will be the welfare recipients with their free mortgage,gas,food, caddie escalades, and cell phones. And dare if we complain we are racists.

[varyouga]

I thought nobody making less then 250k was going to get a tax increase?

No tax increase, my FRiend.

It's a new tax so it doesn't count.

[Jim Noble]

A surtax on wealth would hurt the Dems big backers in Hollywood and New York.

A surtax on income, as opposed to wealth, would hurt the strivers who represent undesirable competition for the rich.

[Jim Noble]

although if my wife and I earned 200K, we would consider ourselves to be extremely wealthy

Well, then, you and your wife are dopes.

It would take many, many years of >$200K earnings to make you wealthy, coupled with very limited spending and wise investments.

It could be done, though.

Most people who make $200K pay $50K in taxes and blow the rest.

[Wisconsinlady]

‘!@#^!(@^#(%^$*^%$^%*#@!@%#&^!%#^&!%$$#(*!&^(@#^*!&^@*#^!*&%

I agree. In fact I’m making up new swear words in my head because all the usual ones just don’t cut it anymore.

[Waco]

Just think,,,,if we weren’t in a recession and the jobless rate was not at record levels,,,,,the Commie cRATS would still be pushing more taxes for fairy tales,,,there feel better now??

[socialismisinsidious]

Socialized Medicine aka Universal Health Care PING LIST

FReepmail me if you want to be added to or removed from this ping list.

**This is a high volume ping list! (sign of the times)**

[Freedom'sWorthIt]

Every sentence they write about and we respond about any increase in taxes should include “in this terrible recession”.

ONLY IDIOTS raise taxes for any reason = during a dreadful recession where in my state the unemployment rate is 13.5% and not long ago was 4.5%.

[soycd]

>I thought nobody making less then 250k was going to get a tax increase?

That is what obama and the dems said. They lied. No surprise here.

The rats will run out of other peoples money long before they run out of manufactured votes.

obama lied, America died.

[LurkedLongEnough]

if my wife and I earned 200K, we would consider ourselves to be extremely wealthy.

Could you recommend something on sale where you are? (We wanna get outta Dodd's domain) Here's our city data in Connecticut:

Estimated median household income in 2007: $99,831

Estimated median house or condo value in 2007: $755,182