Posted on 11/02/2009 11:04:13 AM PST by Nachum
WASHINGTON – The typical family would be spared higher taxes from the House Democratic plan to overhaul health care, and their low-income neighbors could come out ahead.
Their wealthy counterparts, however, face big tax increases that could eventually hit future generations of taxpayers who are less wealthy.
The bill is funded largely from a 5.4 percent tax on individuals making more than $500,000 a year and couples making more than $1 million, starting in 2011. The tax increase would hit only 0.3 percent of tax filers, raising $460.5 billion over the next 10 years, according to congressional estimates.
(Excerpt) Read more at news.yahoo.com ...
The list, ping
pay for the mortgages, car payments, cell phones, food, and not health care of others... and get nothing in return.
yea, that sounds fair.
Raise taxes on any business and the general public will pay the price when the business raises the cost of goods. Thereby, a tax increase for everyone. The Health Care bill will raise you taxes beyond belief.
I know the parasites of society wouldn’t understand this but this would apparently affect them as well. Those that are in that income range are usually small to medium size business owners. Wouldn’t they have to up prices of goods or services to compensate?
Or, stop hiring.
Great minds think alike.
“Tax the Rich, feed the Poor, til’ there ain’t no Rich no more.” Then what?
Business needs to really be putting this out there. Tell the people what will happen to the cost of their goods if their taxes go up. They will always attempt to keep their profit level up so they don’t have to layoff. But then again.....that’s the free market system. It will be outlawed one of these days if things don’t change.
As another poster already stated this is going to do more than raise the cost of goods. Layoffs and hiring freezes are also a result of this.
Correct....but as this economy falls further, prices will raise. I use to buy a 100 foot, 5 foot tall roll of horse fencing for $70.00....not it’s $170.00 at Lowes. I don’t know of anyone that is buying now. If that holds true with other items, Lowes will be laying off. I understand the Home Depot has already closed 45 of their stores.
Isn't that pretty much the same thing they said about the alternative minimum tax? A (really) good bout of jimmy carter style inflation and I'll be there.
These people are not “the rich”. They are high earners who already pay the overwhelming majority of taxes as it is. “The rich’ - folks in this category would include Soros, Buffet, Bloomberg etc. - are incorporated and pay no income tax at all. And they’re all democrats or RINOs.
Here endeth the rant.
Its going to hit everyone with big taxes except the illegals and the perpetually nonworking.
I bet if WE decided there should be wealth tax those bastards would rethink their leftist leanings.
And when Atlas shrugs then what? Hey Liberals, pay for your own damn health care!
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