New Health Care Law House Bill Would Mark the Return of Confiscatory Tax Rates July 16, 2009 John Goodman 5 Comments Tax consequences of the House health bill: New York tax rate to top 57%, thirty-nine states to top 50%. Print
Since when does the tax rate have to go above a certain point before it becomes “confiscatory”? Even taking 1% of someone’s money is stealing. You may argue that it’s necessary…and i am open to the argument. But it’s still confiscatory
This is going to make Jimmy Carter’s stagflation look like a picnic.
When are people going to realize that everything Obama has been doing has been bad for the economy.
I don’t believe this even counts the 12.5% Social Security (FICA) tax Obama wants to tack on. Right?
Since when does the tax rate have to go above a certain point before it becomes “confiscatory”?
Even taking 1% of someone’s money is stealing. You may argue that it’s necessary…and i am open to the argument. But it’s still confiscatory
Joe: True, if you’re talking about the proposal to remove the income cap for Social Security tax.