A Thursday New York Post piece made a number of startling claims about Democratic health care reform proposals, which, the authors claim, will devastate the wealthy. Take a look at the associated chart, which was fronted on Drudge.
Notice a problem? Take the single gentleman on the top left, who earns $285,000. House Democrats would charge a surtax of one percent on every dollar he makes over $280,000. That means one percent of $5,000 or $50. But according to the Post he’ll be on the line for one percent of his entire salary–an extra $2,850. Can you say “marginal taxation?” Apparently they can’t at the post.
A Democratic aide sends over the following corrective:
One should note that a major source for the post article was the Tax Foundation, which releases an annual anti-tax “report” that the non-partisan Center for Budget and Policy Priorities blasts year in and year out for its numerous inaccuracies. Looks like they did no better on this project.
