HR 3962 – Tax Surcharge on High Income Earners

I spent most of the past four days reading and re-reading sections of H.R. 3962 Affordable Health Care for America Act and have come across some surprising details. Click here to download a PDF version of the bill.

For example, Section 551 will amend Part VIII of subchapter A of chapter 1 of the Internal Revenue Code of 1986. If a taxpayer has a “modified adjusted gross income” that exceeds $1,000,000, he will be assessed a 5.4 percent surcharge on the amount over $1,000,000 [Sec. 551(a), amendment to Part VII, subchapter A, chapter 1, Internal Revenue Code]. And oh, by the way, this “shall not be treated as a change in a rate of tax” [Sec. 551(c)].

There is no stipulation in the bill that these funds would or would not be used for health insurance; that these funds would or would not be used to help pay for premiums to the public health insurance option for those who can’t afford it; or that these funds would or would not be used to help offset the start-up costs associated with the public option–set at $2 billion in H.R. 3962.

Maybe it’s just me, but…what in the world does this have to do with health care? And how does this help provide health insurance for those who are uninsured?

Contact your representatives today and tell them to stop HR 3962. Click here to go to the Susan B. Anthony List webpage to send a message to your elected officials.