Medicare tax hikes for wealthy to help pay for President’s health plan

President Obama shucked his jacket to inject a note of urgency into his push for health-care legislation during an address Mar. 8, 2010 at Arcadia University in Glenside.

President Obama has proposed raising $184 billion over ten years to help pay for his $950 billion health plan by imposing new taxes on the investment income of individuals making more than $200,000 a year and couples earning more than $250,000 a year. In addition to paying 2.9 percent on interest and investment income above those amounts, the President’s health bill would impose a 2.35 percent Medicare payroll tax on all earnings above those levels. 

Christopher Weaver of Kaiser Health News lays out the proposal here and touches on what proponents and opponents say about the President’s proposed Medicare taxes.