Baucus Healthcare Bill Imposes Effective, Implicit Tax Rate of 70 Percent

Add that figure to the income tax, the payroll tax, and the phase-out of the EITC and “the effective, implicit tax rate for workers between 100 and 200 percent of the federal poverty line would quickly approach 70 percent — not even counting food stamps and housing vouchers.

Methinks the healthcare bills running around the capitol need to die before they send our society into a wealth destroying tailspin.