Posted on 07/10/2009 8:32:38 PM PDT by americanophile
WASHINGTON — House Democrats will ask the wealthiest Americans to help pay for overhauling the health care system with a $550 billion income tax increase, the chairman of the tax-writing Ways and Means Committee said Friday.
The proposal calls for a surtax on individuals earning at least $280,000 in adjusted gross income and couples earning more than $350,000, said the chairman, Representative Charles B. Rangel of New York.
It would generate about $550 billion over 10 years to pay about half the cost of the legislation, Mr. Rangel said. As the proposal envisions it, the rest of the cost would be covered by lower spending on Medicare, the government health plan for the elderly, and other health care savings.
With the economy still hobbled and Republicans already sharpening their tax-and-spend attack line, the proposal is perhaps the clearest expression yet of the mandate that Democrats believe they won last November, when voters expanded Democratic majorities in Congress and sent Barack Obama to the White House.
(Excerpt) Read more at nytimes.com ...
As if they can just decline the invitation.
Only a suggestion...if I were to play this like poker...Republicans should pile on the benefits at this point: unlimited sick leave for every American, coverage for illegals, drug and alcohol rehab as many times as you desire with no limits, etc. Pump the costs up and then tell the Democrats that it’s only fair that the rich pay for everything. Then pet care, automatic transmission repairs, and septic tank repairs also come from this same pot of money. We’d eventually get to to a point where a guy making over $200k would have a 50 percent tax situation...and just refuse to stay in the US.
Final in the coffin of the economy.
Democrats are TERMITES! Internally destroying from within!
Problem is that the definition of rich is never defined.
NOPE!!!!
“House Democrats will ask the wealthiest Americans to help pay for overhauling the health care system with a $550 billion income tax increase, the chairman of the tax-writing Ways and Means Committee said Friday.”
I laugh with great disdain and sarcasm at “will ask”.
If “free” healthcare is “a right,” why the hell are we forcing ONLY “the rich” to pay for this so-called “right.” EVERYONE should pay their “fair share.” Freeloaders included.
Tax revenues are plunging and capital flight is accelerating. This tax increase (and many others) will lead to less tax revenue, not more tax revenue. Either individuals will become discouraged about work near the new surcharge limits or they will just flee entirely. The rats are turning the IRS into the Gestapo. We are heading for very dark days. There will not be anyone left to pull the cart as the cart swells from rat demands.
“Democrats will ask the wealthiest Americans to help pay”
... it’s only fair ;o)
They are not going to tax the “wealthiest” Americans. They are going to tax the income of rich working Americans. If the money is not considered income it won’t be touched.
They are not going to tax the “wealthiest” Americans. They are going to tax the income of rich working Americans. If the money is not considered income it won’t be touched.
Continually attacking the people who actually produce, employ people and already pay by far most of the federal income taxes collected... They also use the fewest government services.
It seems like a race on who can cause the most damage to the country in the shortest amount of time... I guess this is what many decades of government education has brought us... Masses that have no clue how wealth is created or maintained.
Amazing! It slices, it dices. It rotates your tires, changes your oil and gives you a colonic at the SAME TIME! Is there nothing that taxing the rich can’t do? Too bad billy Mays is dead or he could help sell this wonder tool.
Atlas will shrug. John Galt, is that you?
Buy more ammo.
I think I recently read that 140,000 Taxpayers in California account for 25% of all Tax Receipts for the State.
We have 36.75 Million residents. Some of them are actually Citizens.
Liberalism, it knows no bounds when it comes to insanity.
I thought the top 5% were paying for everything already?
...I’m sure liberal Democrats and their rich friends will be left out of any tax increases....
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