The Wealthiest Will Just Have to Pay for Healthcare Reform

The New York Times just published an article about President Obama’s proposal to raise nearly $60 billion more over a ten year time period “from tightening rules for inheritance taxes affecting the wealthiest estates”:

Revised estimates show that his main idea for financing the initiative — a 28 percent limit on deductions for Americans in the top two tax brackets — would raise $266.7 billion over a decade, not $318 billion as he had projected in his overall budget blueprint last February.

More than $24 billion will come from estate and gift taxes. If there’s anything I truly hate, it’s inheritance tax. President Obama: When you proposed this magical idea to the public, did you tell them that the wealthiest Americans would be paying for everything? As much as I support affordable healthcare, the United States is in no position to over tax a specific group of people to achieve one end.

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One thought on “The Wealthiest Will Just Have to Pay for Healthcare Reform

  1. The estate tax already affects only the very, very wealthiest Americans in any significant degree. Thomas Paine supported using revenue from the estate tax to fund government work programs.

    As it is, the wealthiest Americans actually pay LESS of their income in taxes than most people in the middle class. Why isn’t anyone up in arms about that?

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