How to pay for the democRATS health care bill – surtaxes

From Fox Business News:

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

One congressional aide said that would bring the top tax rate for the wealthy to 45%.

An additional tax of 1% would be levied on those couples earning more than $350,000. Those with $500,000 incomes would pay an extra 1.5%, according to the legislative documents. Increases could be triggered in 2013 to 2.0% and 3.0%, respectively. The millionaires’ tax would remain at 5.4%, according to legislative documents.

The House Ways and Means Committee has scheduled debate and votes are due begin Thursday.

No TweetBacks yet. (Be the first to Tweet this post)

Comments