MYTH 5: Health care reform will raise your taxes
CLAIM: Health care reform would be funded by broad-based tax increases.
- MARA LIASSON: "But the fact is, what have they been hearing? It has a $1 trillion price tag over 10 years, it's going to raise your taxes. I think --
CHRIS WALLACE: "Well, aren't those both true?" [Fox Broadcasting Co.'s Fox News Sunday, 8/2/09]
REALITY: The surtax in House bill applies only to income exceeding $350,000 per year for joint filers. The House health care legislation would establish a 1 percent tax on joint income exceeding $350,000 but not greater than $500,000 per year; a 1.5 percent tax on joint income exceeding $500,000 but not greater than $1 million per year; and a 5.4 percent tax on joint income exceeding $1 million per year. Single filers would be subject to the surtax starting at income exceeding $280,000 per year. In a July 15 Huffington Post piece, Rep. George Miller (D-CA) stated that "[o]nly the highest earning 1.2 percent of American households will pay a surcharge."source: MediaMatters.org
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