Posted on 03/08/2023 9:10:28 AM PST by ChicagoConservative27
President Biden fired the opening shots of the battle over spending and taxes that will consume Capitol Hill this year when he proposed on Tuesday a 5 percent Medicare surtax on people who earn more than $400,000 a year.
The White House is hailing the proposal, which is part of Biden’s budget plan, as something that will extend Medicare’s solvency by 25 years, but Republicans are slamming it as a “massive” tax hike and key Democrats are ducking for cover, declining to say whether they will back it.
The proposal reopens the fierce political battle that wracked Capitol Hill more than a decade ago when Democrats included a 0.9 percent Medicare tax on earnings and a 3.8 percent tax on investment income for wealthier individuals in the Affordable Care Act.
That bill sparked a huge controversy ahead of the 2010 midterm election and lawmakers are girding for another intense fight over Biden’s Medicare tax plan and other proposed tax hikes in the White House budget, which is expected to be released on Thursday.
(Excerpt) Read more at thehill.com ...
Capital Gains have NEVER before been considered “income” for Social Security/Medicare taxation purposes!
Same ole government mismanagement with wars and diverting funds for Americans to potential voters and overseas corporations....then....big shocker....
“Tax the Rich”
Which soon becomes tax everyone.
They tax the rich so much they end up paying money for their medicare coverage, and they have ZERO choice in health care options because they are Medicare.
So no, I don’t support the continued taxation insanity. STOP THE SPENDING insanity.
If youre a dimocrat I really don’t see the problem with “spending” money on anything. You simply print more money. Given that reality why even bother to tax individuals. Print money in lew of tax revenue. Thats pretty much they way it’s being done right now.
The dimocrats get in a huff over something that’s easily fixed.
They have declared war on us, and don’t you dare reciprocate.
As I understand it, Brandon want to tax unrealized capital gains as well.
Surtax on people who earn more than $400,000 a year.
It’s his one liner on all the taxes he wants to impose clueless about cutting wasteful spending.
College loans paid off by tax payer ..........................
Uh, remove a zero for a more accurate number.
The higher the inflation, the higher the capital gains.
I paid Medicare tax all my working life. Now I am required to pay out the wazoo for that very Medicare I have already paid for. My policy is only a few dollars less expensive than my former group policy at work. All I get in the mail is junk from people concerned about my health care. All I see on TV are ads for this medication or that medication. Why the obsession with healthcare? Are Americans that unhealthy, or is this a scam by the medical cartel? I work out pretty hard, and am mostly more fit than I was years ago. I don’t want or need all the obsessive healthcare. I have had doctor’s offices completely flip out if I actually offered to pay for their services. They make a fortune off Medicare.
He’s a known liar. Everyone who works will end up paying more.
Pelosi & Schumer started that idea.
High end earners already pay up to 5x as much for their Medicare premiums as low end earners.
Agree he’s a idiot on the lose a chimp in a china shop would do less damage.
He has no idea about governing only spending our money.
When Medicare was first instituted the FICA rate should have gone to 8%. But then of course with the Democrats everything is free.
He’s a jaded old politician who’s been in government for 50 years. He doesn’t give a rat’s furry behind about the people he’s supposed to be serving. All he cares about is getting re-elected. He’s too old and entrenched.
Getting re-elected and bigger money scams to keep Hunter the bag man.
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