|


|
November 2, 2009
Posted: 06:00 PM ET
FROM CNN's Jack Cafferty: When it comes to health care reform, the rich may have to dig deep into their pockets. The House Democratic plan calls for a 5.4 percent tax on singles making more than $500,000 - and on couples making more than one million dollars. ![]() It would only affect 0.3 percent of tax filers and is expected to raise $460 billion over 10 years. But, as always, there's a catch... This new tax isn't indexed to inflation like other income taxes are, so it would continue to ensnare more families and more small business owners as time goes on. One analysis shows that in 2011 - a family of four making $800,000 would see their federal income taxes go up more than 12 percent, while a family making $5 million dollars a year would see their taxes go up about 32 percent. Some tax experts say it's a mistake to call on only the rich to pay for services that are used by all. One economist who advised President Bush says: "This gives the impression that (health care) is only worth having if someone else pays for it." Meanwhile this isn't the only tax that President Obama has planned for the wealthy. He wants to increase the top marginal income tax rate from 35 percent to almost 40 percent. I guess cutting government spending is out of the question. Socialism takes another step forward. Add to that the fact that most Americans are already seeing their health insurance premiums, deductibles, co-pays, etc. go up. Here’s my question to you: Is it fair to make the rich pay for so much of the cost of health care reform? Interested to know which ones made it on air?
Mich writes: Cheryl writes: Henry writes: Ralph writes: Carters writes: Angel writes: Ryan from Wisconsin writes: Filed under: Health care
|
Jack Cafferty sounds off hourly on the Situation Room on the stories crossing his radar. Now, you can check in with Jack online to see what he's thinking and weigh in with your own comments online and on TV. Send your comments on the "Cafferty File". Jack's Book
Read excerpts about Jack's battle with alcoholism and Jack's philosophy on parenting. CNN=Politics Screensaver
Recent Posts
Categories
Archive
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Loading weather data ...