Here we go--the forces of class envy, the "soak the rich" crowd who believe we ought to hamstring the most productive Americans in order to provide healthcare to everyone else--are moving forward with their plan to place an income tax surcharge on wealthy Americans (atop the already rising rates that will accompany the Obama Administration desire to let Bush tax cuts expire).
House Democrats should find some tougher sledding in the Senate, but I'm just not sure that the country hasn't decided that the rich ought to be punished for the present state of the economy.
Saturday, July 11, 2009
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"That would raise about $550 billion over the next decade, Democrats said -- about half the cost of reforms that are expected to cost about $1 trillion. The surtax percentages could rise two years later, they added, if lawmakers think additional cash is needed to cover the cost of health-care reform."
I guess that constitutes the writing on the wall. Unless, that is, we have different lawmakers in 2012.
Apparently, the recession is over. It must be if tax hikes like this can passed without making things worse. I guess The One made things better after all!
I'd say this is why I am glad that Virginia requires a balanced budget, but I wonder how high tax rates would be jacked if something like this were attempted at the state level, for all income levels?
The thing about socialism is you don't even get the government you pay for. Nationalizing health care will be an absolute disaster. A wasteful, inefficient boondoggle. You'll be getting half(assed) the care for twice the money. Like P.J. O'Rourke said, if you think health care is expensive now, just wait until it's free.
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