WASHINGTON – House Democrats at work on health legislation are narrowing in on an income tax surcharge on the highest-paid wage earners to help pay the cost of subsidizing insurance for the 50 million who lack it.
As discussed in the tax-writing House Ways and Means Committee, the surtax would apply to individuals with adjusted gross income of more than $200,000 and couples over $250,000, according to officials involved in the discussion. Most spoke on condition of anonymity because the talks were private.
In addition, key lawmakers are expected to call for a tax or fee equal to a percentage of a worker's salary on employers who do not offer health benefits.
Rich people don't get that way by being unmotivated or stupid. The motivation to earn large incomes presupposes that they will be able to reap the benefit. Take away that and you reduce the incentive to earn that income. Further, this sort of plundering will only encourage people to shelter their incomes in ways hidden from the Feds greedy maw, or give up on earning that "excessive" income altogether.
Don't think that Atlas will shrug if this passes? Bet on it.