Health Care Funding Plan Would Push Top Tax Rates Over 50% in 33 States

taxfoundation ^

[newbie2008]

As Congress considers a surtax on the nation's top earners to fund an expansion in federal health care, a new Tax Foundation analysis shows that 33 states would see top tax rates exceed 50%. One new funding proposal being floated by the House Ways and Means Committee is a 4% surtax levied on couples with adjusted gross incomes (AGI) over $250,000 and individuals earning more than $200,000.

"Combining top federal and state rates, and factoring in all deductions, the government would be taking over half of every additional dollar from high-income taxpayers in two-thirds of the states under this latest funding scheme," Tax Foundation President Scott Hodge said. "In fact, even in the seven states with no income tax, the lowest top tax rate would be about 46%."

[muawiyah]

Sounds just like the kind of tax rates they lay on folks in Europe ~ most of it goes for medical care ~ supposedly.

[Kansas58]

Well, lots of rich idiots voted for Obama.
Now they will get what they deserve.

Unfortunately, the rest of us will suffer, too, as the rich quit investing, buying, traveling and creating jobs.

[FlingWingFlyer]

Just "spreadin' the wealth around."

I hope none of the ObamaComs currently attending college aren't planning on making "the big bucks" after they graduate. Boy, are they in for a rude awakening.

[rawhide]

Why not just tax all the democrats to pay for this monstrosity? They are the ones wanting it, let them pay. Let the republicans keep their money. Anyone who is a registered democrat pays. Soon, there would be no more registered democrats.

[cranked]

I am not even considered “rich” or even close to being in such a tax bracket, but this is utter ludicrous.

[Mad_Tom_Rackham]

This free health care is beginning to look expensive.

[farlander]

Well, fortunately for you (sarc.), they’ll “lower the costs” so you’ll make less.

I swear to god these people don’t have a single brain cell firing in their skulls.

[jveritas]

The tax rates will go back up to Pre-Reagan era. It is going to be an economic disaster beyond belief if socialism is not defeated.

[this_ol_patriot]

I’ll bet only a few percent would go for actual medical care, the rest would line the pockets of the new bureaucracy.

[jveritas]

Doctor, you are going to end up paying over 70% in taxes for every dollar you earn above $ 200,000 and at least 50% for every dollar you earn below $ 200,000. Every tax payer will be paying much more in taxes, it will be Pre-Reagan tax rates. The evil of socialism strives on stealing the producers money.

[CapnJack]

You could tax the top 10% of earners at a 100% rate and you won't even come close to covering the cost of this fantasy.

This is nothing by a attack on the wealthy for evil means ... pure and simple. An attack on the producers to benefit, not the slugs, but the elected class.

[jveritas]

The next war the left wing lunatics are going to wage will be against the doctors because they believe that the doctors are too greedy and they do not want to lower their salaries for the sake of the what liberals call the common good. Get ready doctor for some nasty stuff coming from the socialists and left wing lunatics against you and your colleagues in the medical profession.

But we should not worry at all because Doctor Obama will be healing us just by looking at us or by just hearing his speech from a teleprompter. (extreme sarcasm).

[Bobalu]

It is INSANE!

Under no circumstances should you or anyone else pay more than 15% total taxes in all forms.

Just what incentive is there left to work hard?????

Get a good education, help other people and yourself...all down the phukin drain with a confiscatory rate like this :-(

Pray for America....