Although it's early in the process, it seems that the Democratic led Congress is going to levy taxes against those who make more than $250K to pay for the nation's healthcare reform bill. Early reports state that those making between $250K and $500K will pay a 1% federal surcharge, those making $500k to $1million to pay 1.5% and for those making more than $1million a shocking 5.4% surcharge. These tax increases are on top of the already rapidly increasing rates of taxation at the federal level.
This will be the end of this legislation - as the Senate has no intention of passing such an increase in federal taxes against the average American entrepreneur, which are those who are in the income group being listed above.
The GOP needs to get back to the principles of small government and individual liberty to capitalize on the policy errors being made in D.C. by the Left...
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written by Quickjustice , July 25, 2009
Despite its current travails, New York remains one of the wealthiest states in the union. Many of the richest New Yorkers are Democrats. It's poetic justice that their own party is about to clobber them with enormous tax increases.
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