Struggling to find ways to pay for health care legislation, Democrats are now considering creating a new surtax on Americans earning over $250,000, Bloomberg reports. The surtax would be on top of the tax hike that is already anticipated at this income level in 2011 when the Bush tax cuts are allowed to expire, and would hit small business owners who declare business income on their personal tax returns. Sounds like a great policy to pursue as the unemployment rate races toward the double digits.
Notice to Readers: The American Spectator and Spectator World are marks used by independent publishing companies that are not affiliated in any way. If you are looking for The Spectator World please click on the following link: https://spectatorworld.com/.