It sounds like a big percentage increase. This might hurt the very rich or at least cause them to move their money out of the US. As wealthy germans fled german taxes, the same might happen here. More importantly, I wonder if Democrats will lose support from the movers in the movie industry and other multi-millionaires who previously haven't been too bothered by higher taxes.
I would prefer tax breaks for the rich. They're the one's that have been paying the bulk of American taxes for way too long.
Life is a gift, and it offers us the privilege, opportunity, and responsibility to give something back by becoming more.
This is a bad idea that helps shed light on how bad an idea the HC "reform" under consideration by Congress is, as I commented on this thread earlier.
Everyone should sacrifice if it is a sacrifice worth having. Of course, with socialized healthcare, why is sacrifice needed if it is saving money? As I have stated many times, first we must define the problem and then design a solution to the problem. Instead the government simply provides solutions that benefit the government.
ridiculous another "welfare" system. I'd write your congressmen, I'm already in the process of writing the one up here in my district in Chicago
Great. So what's going to be the incentive to actually succeed and be productive from now on? How many more Big Government programs can Obama and the Democrats create and fund by attacking the vile "rich" people? And if they succeed, why will future generations of young Americans bother to even try if they know the price of success is to be penalized for their success? We don't live in fantasy land -- this is the real world. Obama and the Democrats' policies won't end poverty....they'll stunt productivity. They won't terminate inequality....they'll undermine motivation. I never thought someone could be worse than GWB -- it hasn't even been 6 months since inauguration and I can already see I was very, very wrong.
Not only will it cost, but it will cost a lot. The article quotes $550B over 10 years. However, we know what happened with Medicare & Medicaid. Their costs ballooned out of control within a few years. I wonder who gets taxed then?
The scary part is the fact that they think that we can "save" money through cuts. That means that they are almost certainly oblivious to the fact that private insurance subsidizes government sponsored health care. If HF.com had a larger font, I would use that. The government's current reimbursement rates are insufficient, and the people in charge believe that cuts can be made despite the fact that costs go up ~5% per year. The model that they are suggesting has no meaningful relationship with reality. Everyone who can afford it will spend >$10k per year on health insurance while everyone else will be stuck with ****** government care because the government will never allocate enough money to match what we have now.
While I don't make $280K/year, I do know a handful of people that do and bust their *** at the job that they do.....why would they continue to do that when 50% of their income is going to the people that did not do **** to get their education and better their lives? Why would these people continue to bust their ***? There should be a law, a constitutional amendment, $1 earned or given is taxed at X% for every dollar no matter who earned it or received it. A dollar is a dollar and we are all equal, no matter how much money you earn or are given, no matter gender or race. Then we need to pass another constitutional amendment that says the government cannot spend more than it takes in or owes. It will be tough for the rest of my lifetime and my kids and probably my grandkids, but these would be the generations that saved the United States of America!!! Maybe not the Greatest Generation that caused all of this crap.
Wealth Redistribution is a cool thing. I am glad the Dems are in control and are about to f**k up a la 1994. Cant wait for the day Pelosi is swept out of power. She will go down faster than the Titantic.
This is simply a way to help the rich become more patriotic by finally paying their share (and everyone else's) of taxes.
