Friday, July 10, 2009

News Alert: House Democrats Plan to Tax the Wealthy for Health Reform

Breaking News Alert
The New York Times
Friday, July 10, 2009 -- 7:40 PM ET
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House Democrats Plan to Tax the Wealthy for Health Reform

To pay for a sweeping overhaul of the health care system,
House Democrats will propose a surtax on individuals earning
$280,000 and up and couples earning more than $350,000, the
chairman of the tax-writing Ways and Means Committee said on
Friday.

In all, the proposal is projected to generate roughly $550
billion over 10 years, which would cover about half of the
estimated cost of the $1-trillion-plus health care
legislation.

But it remains unclear if the Senate would approve such an
across-the-board income tax on the wealthy.

Read More:
http://www.nytimes.com/?emc=na

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