Massive Tax increases on Productive Americans

Taxing the rich seems to appeal to lefties. The problem with that is that often causes such individuals to change their place of residence. You are welcome to come to Canada! Fortunately looks like the senate will balk at this theft by tax.

July 15 (Bloomberg) -- House Democrats plan to fund the broadest U.S. health-care expansion in four decades by increasing taxes on the wealthiest Americans, imposing a surtax of 5.4 percent on couples with more than $1 million in income.

The legislation unveiled yesterday would place additional taxes on households with more than $350,000 a year in income and calls for further increases if the measure doesn’t hit a target for cost savings. The provisions are intended to raise $544 billion over 10 years.