Americans Want a Health Surtax on Wealthy
Although the House bill includes a surtax on the wealthy in order to help fund the proposed health care overhaul, the possibility of it being included in the final health care bill seems uncertain. As Majority Leader Reid prepares the Senate's bill, he ought pay attention to this newly released Associated Press poll which shows that 57% of Americans are in favor of a health surtax on the richest among us -- and only 37% are opposed.
The poll also found that respondents dislike other options that are publicly being discussed on the Hill, such as the so-called "Cadillac plans," that would tax insurers on high-value coverage plans. Higher taxes on insurance providers, pharmaceutical companies, and medical device manufacturers were not as popular either.
The surtax included in the House bill would levy a 5.4% income tax surcharge on individuals earning $500,000 a year and households raking in $1 million.