Reuters: House Health Bill Will Include Surtaxes on the Wealthy, Beginning in 2011

[flpoljunkie]

Tuesday, July 14, 2009; 10:34 AM

WASHINGTON (Reuters) - The U.S. House of Representatives healthcare overhaul bill expected to be unveiled on Tuesday will include surtaxes on the wealthy starting in 2011 and rising in 2013 if more money is needed to pay for its programs, Democratic Representative Ron Kind said.

The bill will include a blue-ribbon commission through the U.S. Institute of Medicine that will have one year to recommend changes in Medicare reimbursement rates. The new rates would go into effect for two years, with $8 billion set aside to pay for the changes, and Congress would then review the Medicare rates.

(Reporting by Donna Smith, Writing by Jackie Frank)

http://www.washingtonpost.com/wp-dyn/content/article/2009/07/14/AR2009071401157.html

[MarjorieG]

1. About the time the Bush tax cut expires, which GOP will call a tax increase?

[flpoljunkie]

3. Yes. Republicans are the water carriers for the wealthy. It's who they are, and what they do.

Let them whine. A recent survey indicates the American people are fine with a surtax on the wealthy and even a 5% tax on beer, wine, and other alcohol.

Last week Rangel proposed a 1% surcharge on individuals with an AGI of$280,000 and joint filers with AGI of $250,000 with a somewhat higher percentage for those whose AGI $500,000 and $1 million.

[jaxx]

2. Why wait so long?

[flpoljunkie]

4. I think they are hoping the economy will have recovered by 2011; Bush tax cuts will have expired

To make the move more politically palatable, I suspect.

[SpartanDem]

5. They're already in the middle of passing the FY 2010 budget

which takes effect in October and this is just one proposal for funding, the final bill may look different. This won't be settled until final passage of a bill in the fall and you'll see the tax changes as part of 2011 budget.

[jaxx]

6. Good answers you two and thanks.

I get carried away sometimes. ;-)