New Health Care House Bill Has Plenty of Taxes — Rea S. Hederman

The new House health care bill has not been improved over the last few months. It still contains painful tax increases that will affect more and more Americans every year. Because the surtax applies to adjusted gross income, the effective marginal tax rates of successful business owners will skyrocket. The surtax, combined with the expiration of the Bush tax cuts, will result in some individuals having their effective tax rate increase by one-third. These tax increases will slow America’s recovery from the current recession.

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