Tuesday, December 29, 2009
Damage from health care reform reaches beyond health care boundaries
"During formulation of the Senate Finance Committee’s health care bill, a group including Senator Jay Rockefeller (D-WV) and John Kerry (D-MA) proposed an idea that would raise billions of dollars in additional tax revenue to help offset the enormous costs of the health care takeover by limiting the value of itemized deductions, such as donations to charity. The proposal would hold the value of charitable deductions at 35 cents on a dollar, while the top tax rate rises to more than 39 percent when the Bush tax cuts expire in 2011."
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