Related to the WSJ front page headline today: “Obama Backs Health Surtax”
Impact? See the blog post below. Go here for all 50 states.
- Posted July 23rd, 2009 at 11.15am in Enterprise and Free Markets.
Rep. Charlie Rangel of New York and other House Democrats propose to pay for their $1.3 trillion bill to create government-run health care with a 5.4 percent surtax on 2.04 million high-income Americans — about half of them small business owners. Americans would face European-style taxes, paying top rates that – combined with local and state taxes – exceed those of economic competitors such as Germany and Japan. Taxpayers in Italy, Spain and even France pay lower rates. And that’s not all: President Obama would have the power to increase the surtax.