Congressional plans to fund a massive health-care overhaul could have a job-killing effect on New York, creating a tax rate of nearly 60 percent for the state's top earners and possibly pressuring small-business owners to shed workers.
New York's top income bracket could reach as high as 57 percent -- rates not seen in three decades -- to pay for the massive health coverage proposed by House Democrats this week.
The top rate in New York City, home to many of the state's wealthiest people, would be 58.68 percent, the Washington-based Tax Foundation said in a report yesterday.
That means New York's top earners, small-business owners and most dynamic entrepreneurs will be facing new fees and penalties.
The $544 billion tax hike would violate one of President Obama's ironclad campaign promises: No family will pay higher tax rates than they would have paid in the 1990s. - FOX News Story
Welcome to the America that Obama is Destroying. Can you imagine paying more than half of what you make to the Government. BULL****! You want to talk about job killers and revolt.
I have often been criticized for saying that America is slowly heading back to Civil War, but at the rate things are going I believe we may be moving there quickly. You cannot have as divided a Country as we have right now and keeping doing stupid stuff. Driving the Deficit into unheard of numbers, national debt rising faster than it ever has in history, raping people of their wealth to support those that don't have it, People aren't going to continue to stand by and watch it happen.
Say what you want about whether Obama is Socialist, when you start talking about people paying these ridiculous taxes so people who don't have money can get stuff for free, HELLO, that is socialist.
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