The ‘new’ new tax on the rich

By doris | Published: July 25, 2009

Full Story at money.cnn.com

NEW YORK (CNNMoney.com) — The definition of “rich” may be going up should lawmakers choose to impose extra taxes on the wealthy to pay for health reform.

Three committees writing the lead House bill have called for an additional tax to be imposed on income above $280,000 for singles and $350,000 for married couples. The so-called surtax would run as high as 5.4% on income over $1 million.

But House Speaker Nancy Pelosi, D-Calif., this week began pushing for the surtax to apply only to singles making more than $500,000 and couples making more than $1 million.

President Obama also gave a nod to raising the threshold

This entry was posted in America, Government, Health, Insurance, Money. Bookmark the permalink. Post a comment or leave a trackback: Trackback URL.

Post a Comment

Your email is never published nor shared. Required fields are marked *

*
*

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>