Saturday, August 1, 2009

Tax Surcharge For Health Care Faces Broad-Based Opposition

So if the surtax is dead where is the money going to come from? - duh!

http://www.investors.com/NewsAndAnalysis/Article.aspx?id=483965

"...A sweeping health care expansion appeared likely to advance to the House floor on Friday with a surtax aimed at high-income individuals still intact — for now.

"Technically, the surtax is alive and kicking, but in the real world it is completely dead," said Daniel Clifton, head of policy research at Strategas Research Partners..."

"...While it's no surprise that Republicans and centrist Senate Democrats quickly rebuffed the surtax idea, respected economists with stellar progressive pedigrees were among its most vocal and effective opponents.

"Choosing to finance health care reform by taxing the rich is bad economic policy, bad health policy, bad budget policy and poor leadership," wrote Brookings Institution economist William Gale in a forum at National Journal Online..."

"..."There's no economic school of thought that advocates raising tax rates during a recession," said Brian Riedl, budget analyst at the conservative Heritage Foundation..."

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