Big Money

Dems Consider Taxing Health Care

This should be good for a tea party or two: According to The New York Times, “House Democrats will ask the wealthiest Americans to help pay for overhauling the health care system with a $550 billion income tax increase.” House Ways and Means Committee Chairman Charlie Rangel said the plan will tax the health care of individuals who make more than $280,000 a year and couples that make more than $350,000. The tax would generate about $550 billion over 10 years, paying for half of the expected cost of health care reform. Nancy Pelosi is supportive of the idea, but it is likely to be meet opposition in the Senate.