Should the affluent pay for health care?

While some Americans believe that the way to pay for healthcare reform is to increase taxes on the rich, this strategy could hurt businesses at a time when the economy is already dragging.

The rich have been coddled since the Reagan era. Reagan era tax policies fractured the Middle Class. One third became wealthy and the other two thirds declined or tred water.

The Bush tax policies were even worse cutting capital gains to 17 per cent and cutting the Income Tax Tables for the most affluent Americans. After World War II, the wealthy paid a 90 per cent Income Tax rate.

Under Bush the tax rate for the top earning Americans was 35 per cent. Keep in mind, too, that most affluent Americans make most of their money through capital gains which is about half on the that Income Tax rate. The wealthy also get a big break on Social Security tax. It is capped at $106,800 making it the most regressive of the federal taxes.

Rightardia suggests that, indeed, the rich be taxed to pay for health care. The pendulum needs to swing back to the middle because the rich have become richer and the poor have become a lot poorer because of Republican voodoo economics.

Supply Side economics have cut taxes for the affluent and increased the national debt.

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