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.
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