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Socialist Surtax for Health Care


Socialist Surtax for Health Care | Cato @ Liberty.

Obama has plans to push the top tax rate from 35 to 40 percent at the end of 2010.  That would make the combined rate 47 percent for top income earners.

What’s a top earner?  Well, Obama has given about five different explanations of who is “rich” in this country.  Each time the estimate has come down.  It has to, he needs to suck as many people as possible into the top earner category. 

I am sad to say my family has been sucked into the category.  Trust me, I’m not rich.

50 percent of your income to taxes?  PLUS cap and trade (if it passes)?  PLUS the dreaded VAT tax.  PLUS taxing your health care premiums?  Roughly that could leave you with an effective tax rate of 60 to 70 percent, depending on your circumstances.

My god.

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