Tuesday, July 7, 2009

From the TaxProf:

House Democrats to Push for Surtax on Those Earning > $250k


House Ways and Means Committee members are likely to propose a surtax on high-income Americans to help pay for an overhaul of the health-care system, according to people familiar with the plan.

I got out my little calculator (I'm math challenged), and that works out to $10,000.00. Please explain to me why people who have worked hard and are earning over $250,000.00 should fork over an additional 10K to pay for health care for people who choose not to work at all?

How about this for an unintended consequence? People who are earning 249K will just make dang sure they don't earn that extra $1000.00. How many times have you heard people say, "I didn't take the promotion (or work the overtime, have a second job, etc), because it just pushes me into a higher tax bracket and I don't really earn any extra money?

Folks, I have big news for you. $250,000.00 may sound like a ton of money to a third or fourth generation welfare recipient, but it's not all that much money. Really!

1 comment:

Katie Alender said...

And there won't be a cost of living index, I promise you. So this is going to be another big hit to already hard-hit cities like New York and Los Angeles. Wonderful.