Home > Political, Politics, Pre Pulse Ramblings > House Plans to Tax Millionaires to Fund U.S. Health-Care Plan

House Plans to Tax Millionaires to Fund U.S. Health-Care Plan


via House Plans to Tax Millionaires to Fund U.S. Health-Care Plan – Bloomberg.com.

Pretty much the end of our country as we know it.  I loved this part:

People would be penalized as much as 2.5 percent of their income for failure to buy health insurance.

Yay. So if you don’t want health insurance you get to pay 2.5 percent penalty. 

Anyone making over 350k is getting soaked with increased taxes.  Millionaire couples have a 5.4 percent increase to look forward to.

Keep track in your head and add the numbers up.  Cap and trade will send the cost of utilities and virtually everything you buy higher.  Some estimates move electric rates for a family from 300 dollars a month to 700 dollars a month.  This will mostly hit the poor however, everybody will pay the price.  Start factoring in current taxes (Obama’s 38 percent for top wage earners) plus the increase in payroll taxes.

We will have an effective tax rate in this country of well over 50 percent.  Perhaps as high as 65 percent for some lucky individuals.  Add to this the skyrocketing cost of everything due to tax and trade. 

The numbers just do not add up to a productive working class.

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