Posted on 07/10/2009 2:21:51 PM PDT by Libloather
Rangel to Unveil Health Bill Monday
By Steven T. Dennis
Roll Call Staff
July 10, 2009, 4:33 p.m.
House Ways and Means Chairman Charlie Rangel (D-N.Y.) said Friday afternoon that the House’s health care bill would be unveiled Monday and would include a $540 billion tax increase on people making more than $350,000 a year.
The tax increase, which would take effect in 2011, would hit the wealthiest Americans, Rangel said. Rates would become progressively higher, with those making at least $500,000 paying one rate and those bringing in $1 million or more paying the highest rate. He said the surtax would be “a very small percentage — 1, 2, 3, something like that,” but did not disclose the precise numbers.
Rangel rejected a proposal pushed by House Majority Whip James Clyburn (D-S.C.) to include a “trigger” that would condition the tax increase on future costs of the health plan. Clyburn has proposed a plan in which tax increases would only go into effect if savings from prevention and other measures did not result from the health care overhaul.
Rangel said they also decided against a series of smaller revenue raisers in favor of a more simplified surtax.
Rangel said he had discussions with the Blue Dog Democrats on regional disparities and other issues, and sought to make changes in keeping with the overall goals of President Barack Obama. Rangel said he tried to show them the depth of changes that Democrats were already making to reform the health care system to improve quality.
So what is the tax rate? 10, 20, 30 percent? What?
All this article says is they plan on soaking the rich.
If the bill ever got through the house (small "h"), it would be DOA in the Senate.
Exactly. We all know where the real money is...
But..but...but until WaxMan Malarkey was passed in the House, I thought we were going to “tax the rich” to “save da planet!” At this rate, “the rich” isn’t going to be “the rich” anymore. Then who will we tax?
Who gave them the authority to spend money we do not have?
Some people go to jail for writing checks without the money in the bank. Someone should pass a bill to stop taxing and stop spending money we do not have. These guys are crooks.
small,1,2,3% to raise 540b. uh huh. So when a business owner gets hit like that he will do what,hire more people? Another plan to put more people out of work.
Worse.
A tax cheat in charge of raising taxes. You gotta love it.
Ok with all of this tax the rich for all of these causes are we up to 100% yet or are we beyond that?
Ok Tax Cheat Charlie
Why not another rate at $5M?
Another at $10M?
Still another at $25M?
And so on?
Let’s make sure the black entertainers and athletes “pay their fair share” too
From which of his favorite islands will the unveiling occur?
Everyone currently pays 1.45% of every dollar earned to pay for the 45 million people on Medicare, which is about 15% of the population. Why not just increase this amount to 9.5% to cover everyone? </sarcasm>
That’s in the bill.
1 million taxpayers X 540K each = 540 Billion .... right
@ 2% to get 540 billion would take a total taxable income of 27 trillion for the top % of earners.
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