Marginalizing Americans
By: Michael Caffrey
One of the founding tenants of liberty is man should bear the fruits of his labor; that is, a person should be entitled to keep all of the money that he or she earns. Current OBAMACare legislation runs in the face of liberty, as the marginal tax increases have lasting and ignored ramifications.
While it seems difficult to connect “Penalized for Working More” to National Health Care, there exists a direct correlation. A January 13th CATO.org article identifies the role that marginal tax increases play in any future health care proposals. In a nutshell, a Marginal Tax Rate is the amount of additional tax one would be required to pay if he or she made one additional dollar.
At several points of income, a person would lose money by working more through progressive taxation and reduced subsidies; the article cites examples of “Under the House bill, a family of four starting at $43,670 that earns an additional $1,100 would see its total income fall by $870.”
And THIS is Change I can believe in.
