Tuesday, July 7, 2009

And So It Begins

It is inevitable that the health care "reform" being kicked about in Congress will result in tax increases for many Americans. President Barack Obama's top political advisor David Axelrod "declined yesterday to rule out the possibility that the White House would agree to a tax hike on health insurance plans that would hit middle-income Americans," according to the Washington Post.

Of course, those Americans who still have enough money to buy anything or employ anyone will get socked worst -- at a time when the economy needs these people to spend, invest and hire. According to Bloomberg, "House Ways and Means Committee members are likely to propose a surtax on high-income Americans to help pay for an overhaul of the health-care system, according to people familiar with the plan."

Look for Democrats to seek a four percent surtax on anyone who makes more than $250,000.

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