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Healthcare Bill Includes Tax on $1 Million+ Earners (5.4% surtax)
CNBC ^ | 7/14/2009 | Staff

Posted on 07/14/2009 12:07:26 PM PDT by Red in Blue PA

The healthcare overhaul proposal offered Tuesday by U.S. House of Representatives' Democrats will include an extra 5.4 percent tax on those earning more than $1 million.

One congressional aide said that would bring the top tax rate for the wealthy to 45 percent. An additional tax of 1 percent would be levied on those couples earning more than $350,000. Those with $500,000 incomes would pay an extra 1.5 percent, according to the legislative documents.

Increases could be triggered in 2013 to 2.0 percent and 3.0 percent, respectively. The millionaires' tax would remain at 5.4 percent, according to legislative documents.

(Excerpt) Read more at cnbc.com ...


TOPICS: Front Page News; News/Current Events
KEYWORDS: bho44; democrats; economy; healthcare; helathcare; obama; obamacare; taxes
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Officially a Welfare Society!
1 posted on 07/14/2009 12:07:26 PM PDT by Red in Blue PA
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To: Red in Blue PA

C’mon, like Biden says, do your part — pitch in — help out! Scalp the achievers so their greed can be used for the benefit of the loafers... er, I mean, those less fortunate. Spread that wealth. Whatsa matta wich you, you noah unnerstand?


2 posted on 07/14/2009 12:10:34 PM PDT by From The Deer Stand
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To: Red in Blue PA

Well, I wonder how many millionaires will suddenly have two or three children making $999,999 a year. There’s a hundred ways to skin a cat(and all of them are fun).


3 posted on 07/14/2009 12:12:39 PM PDT by DadOfFive (...wake me when it's over.)
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To: Red in Blue PA

These idiots just assume the “filthy rich” are going to simply absorb this hit and not pass it on to the economy in terms of increased unemployment, higher prices and further stagnation.


4 posted on 07/14/2009 12:12:49 PM PDT by ScottinVA (Impeach President Soros!!!)
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To: From The Deer Stand

“C’mon, like Biden says, do your part — pitch in — help out! Scalp the achievers so their greed can be used for the benefit of the loafers... er, I mean, those less fortunate. Spread that wealth. Whatsa matta wich you, you noah unnerstand?”

That’s right, Biden — “skin in the game”....”patriotic”... remember all that pre-election terminology?


5 posted on 07/14/2009 12:14:46 PM PDT by ScottinVA (Impeach President Soros!!!)
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To: Red in Blue PA

Oh great, a “progressive” surtax. Let’s review history for a minute. The high marginal tax rates of the 50’s led to businesses attracting talent by offering nontaxable benefits, like health insurance. Which removed smart shopper/free market link between the customer and the provider, which led to the out of control costs of medical care we enjoy today. The joy of unintended consequences. Government plans to solve this problem by raising marginal tax rates, to generate revenue to pay for costs that are too high because the marginal rates were too high. AAHHHHHHHHH! What distortions will this new round of taxes cause?


6 posted on 07/14/2009 12:15:08 PM PDT by JTHomes
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To: Red in Blue PA

Let them be the first to pitch in, eh? Let’s see how much tax will be imposed on these tax evading critters. And they will have to participate in the same system. The same groups of doctors and waiting lines. Guaranteed non- perks for them. Then let’s see how it fairs.


7 posted on 07/14/2009 12:15:13 PM PDT by BigFinn (Isaiah 32:8 But the liberal deviseth liberal things; and by liberal things shall he stand.)
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To: Red in Blue PA

And how long before they decide they aren’t getting enough, and have to “correct” the level from $350K to $300K, then to $200K, then to $50k?


8 posted on 07/14/2009 12:16:06 PM PDT by Cementjungle
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To: Cementjungle

In the end, everyone was a Kulak.


9 posted on 07/14/2009 12:17:27 PM PDT by massgopguy (I owe everything to George Bailey)
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To: DadOfFive
Well, I wonder how many millionaires will suddenly have two or three children making $999,999 a year.

The same amount who will suddenly be audited.

sw

10 posted on 07/14/2009 12:18:08 PM PDT by spectre (Spectre's wife ) (Who will lead us?)
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To: Red in Blue PA
Those old time Virginia guys Ground the nose off a tax collector on a Grinding wheel and sent him back!
11 posted on 07/14/2009 12:19:07 PM PDT by Cheetahcat (Zero the Wright kind of Racist! We are in a state of War with Democrats)
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To: Red in Blue PA

Just like that the Democrats can squeeze an extra $54,000.00 out of each person.


12 posted on 07/14/2009 12:22:23 PM PDT by VeniVidiVici (ABC-AP-MSNBC-All Obama, All the time.)
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To: Red in Blue PA

got to love it....surtax the tax....massachusettes does (or did) that...when i lived there in the 80’s we paid a 7% surtax on the state income tax we paid....wooohooo...


13 posted on 07/14/2009 12:34:10 PM PDT by tatsinfla
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To: Cementjungle

Exactly! Well said.


14 posted on 07/14/2009 12:53:25 PM PDT by Dubya-M-DeesWent2SyriaStupid!
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To: JTHomes
“Government plans to solve this problem by raising marginal tax rates..”

Exactly. It worked so well for California. Whoops...

New York? Whoops...

15 posted on 07/14/2009 12:54:23 PM PDT by Gabrial (Obama Lied - The Republic Died)
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To: ScottinVA

Why are you so concerned for millionaires, are you one? They don’t create jobs with all their extra money, they but $6,000 umbrella stands and throw ridiculously expensive sweet 16 parties for their kids. They can afford the extra tax.


16 posted on 07/14/2009 1:27:00 PM PDT by We Won 77
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To: We Won 77
First of all, who are you or anyone to say what they can or can't afford or what they should do with their money. Second of all, who do you think makes the $6k umbrella stand or caters the 'sweet 16' parties?

You have no right over another man's property just as another man has any right to yours.

It only stands to reason that where there's sacrifice, there's someone collecting the sacrificial offerings. Where there's service, there is someone being served. The man who speaks to you of sacrifice is speaking of slaves and masters, and intends to be the master. - Ayn Rand

17 posted on 07/14/2009 1:29:57 PM PDT by mnehring
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To: We Won 77
Why are you so concerned for millionaires, are you one? They don’t create jobs with all their extra money, they but $6,000 umbrella stands and throw ridiculously expensive sweet 16 parties for their kids. They can afford the extra tax.

The people who make those umbrella stands, and cater those sweet 16 parties will care... and so will the minimum wage people who (used to) work for them. Do you really think money is better in the hands of the government than in the hands of people who go out and spend it?

18 posted on 07/14/2009 1:30:26 PM PDT by Cementjungle
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To: We Won 77

LOL! Slithered away from the DU for a little while eh?


19 posted on 07/14/2009 1:36:36 PM PDT by eyedigress
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To: Red in Blue PA
President Barack Obama met with key Democrats in a White House session in which he told a powerful Senate chairman he wants legislation by week's end in his committee.
20 posted on 07/14/2009 1:41:35 PM PDT by rawhide
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