Shocking!: The NYT is Breaking a Report That House Democrats Plan a Massive Tax Increase
By Brandon MartinAt this stage in the game, this should be a surprise to no one! This is the kind of news that gives this recession a second wind.
“Breaking News Alert
The New York Times
Friday, July 10, 2009 — 7:40 PM ET
—–House Democrats Plan to Tax the Wealthy for Health Reform
To pay for a sweeping overhaul of the health care system, House Democrats will propose a surtax on individuals earning $280,000 and up and couples earning more than $350,000, the chairman of the tax-writing Ways and Means Committee said on Friday.
In all, the proposal is projected to generate roughly $550 billion over 10 years, which would cover about half of the estimated cost of the $1-trillion-plus health care
legislation.But it remains unclear if the Senate would approve such an across-the-board income tax on the wealthy.
Read More:
http://www.nytimes.com/?emc=na”
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[...] were interested in partially funding proposed health care legislation through a new surtax. The media initially reported that it would be a tax only on the wealthiest Americans, consistent with [...]