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House Plans to Tax Millionaires to Fund U.S. Health-Care Plan
Ryan J. Donmoyer and Kristin Jensen
Bloomberg News
Wednesday, July 15, 2009
July 15 (Bloomberg) — House Democrats plan to fund the broadest U.S. health-care expansion in four decades by increasing taxes on the wealthiest Americans, imposing a surtax of 5.4 percent on couples with more than $1 million in income.
The legislation unveiled yesterday would place additional taxes on households with more than $350,000 a year in income and calls for further increases if the measure doesn’t hit a target for cost savings. The provisions are intended to raise $544 billion over 10 years.
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House leaders said the plan, which includes mandates to purchase coverage and a public health-insurance option, would cover 97 percent of Americans by 2019. President Barack Obama praised their work, saying it will “begin the process of fixing what’s broken” in the system.
“We can’t continue to put more and more money into health care,” said Representative Henry Waxman, a California Democrat who runs the House Energy and Commerce Committee. “We cannot go home for recess unless the House and the Senate pass bills to reform and restructure our health-care system.”
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13 Responses to “House Plans to Tax Millionaires to Fund U.S. Health-Care Plan”
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July 15th, 2009 at 5:11 am
This tax would eventually be taken from all incomes, not just the rich. This plan must not be passed. “Give an inch and they take a mile.”
July 15th, 2009 at 6:24 am
My question is, how can they continue to tax people when the entire financial system collapses?
I know many don’t see it coming yet but this financial system we currently work under isn’t going to be around much longer, and I don’t mean we are moving to a one world currency… it goes much deeper than that but in a positive way.
Peace
Bill Reply:
July 15th, 2009 at 11:21 am
“My question is, how can they continue to tax people when the entire financial system collapses?”
They are about to show you.
July 15th, 2009 at 6:24 am
http://www.collective-evolution.com
July 15th, 2009 at 7:12 am
This means me. I am a millionaire now since everybody has been clicking my ad at the upper right hand side of Alex Jones’ Prison Planet web site. Have YOU clicked it? If not, you should. Just look for me, MAX, the little orange HOMEGAIN gorilla.
July 15th, 2009 at 7:15 am
There aren’t enough “rich” people to fund this madness. So guess who’s going to carry the biggist part of the burden. Got an e-mail survey about it from a congressman yesterday. What a load of crap!!! You could only answer HIS biased questions. No comments. Doesn’t matter. Impossible to contact him anyway. He’s on the runaway govt. train that can only be stopped by a crash.
July 15th, 2009 at 7:42 am
This is amazing to me. And what’s more it really comes down to taxation without representation because you will be hard pressed to find any of our representatives who have actually read any of this bill let alone the cap and trade bill.
Add to that the news I saw last night that a company like Goldman Sachs earned over 2 billion in profit last year and didn’t pay any tax and I’m left scratching my head.
My plan is to get out of debt asap and get some money into wealth securing assets and commodities because I have a feeling that the worse isn’t over.
You know. The thought suddenly occurs to me that this makes wanting to reach the American dream of wealth and security less appealing. Why try if the government is going to take half of what you earn? Shot for mediocrity. Depend upon big brother. Maybe that’s the desired effect.
July 15th, 2009 at 12:18 pm
TAX THE RICH !
good stuff. hooray for Obama – making americans healthy with money from the wealthy. Brilliant. Who can complain?
July 15th, 2009 at 2:16 pm
Wake up and smell the roses people! If your broke you don’t keep writting checks you can’t cash. If you tax the “Rich” until they are not rich anymore then who is left to pay the bill. Have you seen a british person with anything but yellow teeth. Welcome to a government health system. Obama is leading America down a path we may never recover from.
July 15th, 2009 at 6:19 pm
this is great stuff go OBAMA WE NEED HEALTH INSURANCE…
July 15th, 2009 at 8:51 pm
The lawmakers in this country don’t have a good record for being honest with the people, and based on the recent activities of the congress and senate I do not feel confident that this proposed medical bill will be beneficial to the general public and would even speculate that it will be a hidden tax on the working man.
July 16th, 2009 at 3:40 am
The lawmakers in this country don’t have a good record for being honest with the people, and based on the recent activities of the congress and senate I do not feel confident that this proposed medical bill will be beneficial to the general public and would even speculate that it will be a hidden tax on the working man.
Sorry… forgot to say great post – can’t wait to read your next one!
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