DEM HEALTH RX A POI$ON PILL IN NY TERRIFYING 57% TAX LOOMS FOR BIGGEST EARNERS

[bijou]

Congressional plans to fund a massive health-care overhaul could have a job-killing effect on New York, creating a tax rate of nearly 60 percent for the state's top earners and possibly pressuring small-business owners to shed workers.

New York's top income bracket could reach as high as 57 percent -- rates not seen in three decades -- to pay for the massive health coverage proposed by House Democrats this week.


The top rate in New York City, home to many of the state's wealthiest people, would be 58.68 percent, the Washington-based Tax Foundation said in a report yesterday.

That means New York's top earners, small-business owners and most dynamic entrepreneurs will be facing new fees and penalties.

The $544 billion tax hike would violate one of President Obama's ironclad campaign promises: No family will pay higher tax rates than they would have paid in the 1990s. ...

http://www.nypost.com/seven/07162009/news/regionalnews/dem_health_rx_a_poion_pill_in_ny_179525.htm

[thundley4]

The DimRats and 0Bama do not care about the economy, their only goal is to use class warfare to increase their control of people and to enlarge the Dim voting base.

[Tess Anderson]

You've all probably seen the flowchart of this scheme that the GOP put out . . . a bureaucratic nightmare. And how to pay for it, increasing any taxes in a severe recession will only worsen it. On the up side, the "blue dog" dems are dominant in a key committee and they're now saying that they want this bill to die there. It takes seven votes to do that, and they've got ten.

[RightCoast]

The really scary part is even with those tax increases they still can't fund the health monster.