Friday, June 19, 2009

We Warned You: Democrats Seek Tax Hikes Across the Board

House Democrats have lots of potential targets for higher taxes as they aim to expand health care coverage to reach the roughly 50 million that experts say are uninsured.

Under consideration are higher alcohol taxes, increases to the Medicare payroll tax and a value-added tax, a sort of national sales tax, of up to 1.5 percent or more.

A tax war of choice?

Democrat tax options include:
  • Increasing the price of soda and other sugary drinks by 10 cents a can.

  • Applying a potential 2 percent income tax increase to single taxpayers earning more than $200,000 a year and households earning more than $250,000.

  • A new employer payroll tax could target 3 percent of employers' health care expenditures.

  • Taxing employer-provided health insurance benefits above certain levels -- a less likely option but one that still is in the running.

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