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July 20, 2009
Posted: 05:00 PM ET
As the debate over paying for health care reform takes center stage, it seems like the rich could wind up with the heaviest burden. Democrats want to hit the rich with even higher income taxes to pay for the proposed overhaul; along with limiting deductions that wealthy families take for mortgage interest and charity contributions. ![]() Taxing the rich to pay for health insurance would mark a significant difference from how this country has paid for safety net programs. For example, both Social Security and Medicare are funded by payroll taxes that affect all Americans. It’s estimated a single taxpayer making $450,000 a year would pay $7,100 a year more in taxes, while a family making that much would pay an additional $1,000. Meanwhile - a single taxpayer making $5 million a year would pay $452,000 more in taxes; while a family at that income level would pay $443,000 more. House Speaker Nancy Pelosi says she wants to soften the proposal by making it apply only to families that make $1 million; and individuals that make more than $500,000. Republicans are pushing back big time. They say some taxpayers would wind up facing tax rates above 50-percent when you combine federal and state taxes. The White House has problems on this issue. A new poll shows approval of the president's handling of health care has fallen below 50 percent for the first time. Here’s my question to you: Is it fair to soak the rich to pay for health care reform? Interested to know which ones made it on air?
Bertha from South Carolina writes: Mark from Arkansas writes: Craig from Arizona writes: B. from Mississippi writes: B. from North Carolina writes: Tom writes: Michael from Ft. Hood, Texas writes: Filed under: Health care
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