House Health Care Vote is a Vote on a Huge Tax Increase

By November 6, 2009General, Health Care, Taxation

The National Association of Manufacturers is a member of the Employers for a Healthy Economy coalition, which this week is running full-page ads in The Washington Post, Wall Street Journal, New York Times, USA Today as well as the Washington political/government newspapers.

Key paragraph from the ad for today’s purposes:

The bill imposes a staggering $527 billion in new taxes. These taxes will devastate many small businesses – the engine of job creation in America. Meanwhile, others in Congress are urging massive new taxes on health insurers, pharmaceutical companies and medical device makers.

Wall Street Journal editorial today, “The Return of the Inflation Tax“:

In order to raise enough money to make their plan look like it won’t add to the deficit, House Democrats have deliberately not indexed two main tax features of their plan: the $500,000 threshold for the 5.4-percentage-point income tax surcharge; and the payroll level at which small businesses must pay a new 8% tax penalty for not offering health insurance.

Click to enlarge.

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